Most of what you read about digital transformation focuses on customer experiences, business model agility, and the effect that all of this has on enterprises — particularly IT departments.

Less widely recognized is the fact that digital technology is revolutionizing product development and management. Makers of smart products are using digital tools to speed prototype development, facilitate manufacturing and product testing, and enhance life-cycle management.

Products are generally becoming smarter. We now have smart TVs, smart speakers, smart refrigerators, and even smart sneakers. The most ordinary products can be made “smart” by adding Bluetooth beacons, RF ID tags or QR codes that provide information or links to webpages.

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