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All incremental value from an IoT product comes from its virtualized representation, what I call the software-define product (SDP). Broaden this concept and you have software-defined manufacturing (SDM) which is the superset of all SDPs it produces. Abstracted, a factory is just a highly complex product so incorporating and advancing it with the Internet of Things is the future.
Watch this video (or read the transcript) to hear Helmuth Ludwig describe how he sees the future of manufacturing ...