In this engaging discussion, Roland Busch, the CEO of Siemens and a pioneer in industrial automation, shares his journey to leadership and insights into the evolving tech landscape. He delves into the concept of digital twins, which revolutionize productivity in industries, and examines how smart infrastructure is transforming urban environments, citing Singapore's advancements. Busch also underscores the importance of fostering innovation through open communication and adaptability, while touching on the future of battery production in Norway and Germany's industrial strategies.
Siemens' digital twin concept enables virtual simulation and optimization, improving productivity and decision-making.
Siemens supports the creation of smart cities through automation and digitization, promoting efficiency, sustainability, and quality of life.
Deep dives
Siemens' Role in Automation and Everyday Life
Siemens is a global leader in industrial automation and software, with a wide range of applications in everyday life. Their automation technology is used in various industries, including manufacturing, trains, buildings, and energy grids. Siemens transforms the everyday lives of people by automating processes and improving efficiency. They have a long history of transforming themselves and adapting to new technologies and markets. The current transformation is driven by digitalization, software, and AI, making it their fastest transformation yet.
Combining the Real and Digital Worlds with Digital Twin
Siemens' strategy revolves around combining the real and digital worlds through the concept of the digital twin. By creating virtual models of physical assets and processes, Siemens enables higher productivity, faster development cycles, and improved quality control. Digital twin technology allows for simulation and optimization before the physical production, saving time and resources. It is used in various industries, such as crash testing cars, simulating train performance, and even designing entire manufacturing plants. The digital twin is constantly updated with real-time data, enabling continuous optimization and improved decision-making.
Building Smart Infrastructure and Smart Cities
Siemens's smart infrastructure business focuses on building technology, including security, fire safety, energy efficiency, and asset management. They contribute to creating smart cities by not only automating traffic and grids but also digitizing healthcare systems and other areas of public service. Singapore is recognized as one of the smartest cities in the world, offering digital passports, digitalized records, and a high-quality public transport system. Siemens works to support cities in their digitalization and automation efforts, helping them become more efficient, sustainable, and enjoyable places to live.
German Engineering, Siemens' Transformation, and Leadership Approach
Siemens is known for its strong engineering culture and its ability to transform itself over time. With a focus on vertical markets and a combination of great engineers and skilled workers, Siemens has established an ecosystem of companies that are highly competitive. Siemens CEO Roland Busch, an engineer himself, brings a unique perspective to the company's leadership. He values deep knowledge of technology and fosters an environment of learning and upskilling. Busch encourages decision-making based on both facts and gut feeling, supported by thorough analysis and a sense of practicality.
Siemens has played an important role in shaping the technological evolution of Europe, and beyond. Their impressive CEO, Roland Busch, shares his rise to the top, leadership principles, and also discuss the new trends in automation, digitisation, and AI.
The production team on this episode were PLAN-B's Pål Huuse and Niklas Figenschau Johansen. Background research was done by Sigurd Brekke with input from portfolio manager Martin Prozesky.