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Manufacturing is in the midst of a revolution. Whole supply chains are becoming visible. Innovation is speeding up and becoming more open. Data is being shared and value is being created in real time. Potentially, performance can be transformed and new markets created, either by existing players or disruptive ventures. For all the excitement of the fourth industrial revolution or Industry 4.0, the risks are too often overlooked. Like other digital markets, value can just flow to the top, leading everyone else to struggle as commodities. Manufacturers can adopt all the technologies, but...