Digitalization not only improves operational processes, but also creates strategic advantages by enabling companies to adapt to changing market requirements and to tap into new business opportunities:

• By using digital technologies, companies can monitor and control their production processes in real time, leading to a significant reduction in downtime, improved product and service quality, and the optimization of  manufacturing processes.
   
• Products and services can be individualized thanks to flexible production methods, which are also based on digital technologies.
   
• Large-scale data analyses provide in-depth insights into customer needs and market trends, resulting in innovative products and services.
   
• And last but not least, digital platforms and networked devices are opening up new opportunities for business models.

The companies in the tech industry are at different stages of the digital transformation process. Many firms are integrating digital technologies in order to improve their operational processes. They are also increasingly using artificial intelligence (AI) in combination with different ways of connecting devices and storing, structuring, analysing and using data. However, SMEs in particular are facing financial, organizational and legal challenges when it comes to exploiting the potential of digitalization and deploying new technologies strategically. The key question here is  what do I need to bear in mind for my specific use case?

The increasing networking of machines and systems thus not only opens up great potential, but also poses challenges such as security risks due to cyber attacks. Companies need to invest in robust security systems and data protection measures, as well as considering the legal issues and current regulatory efforts.