Digitization has significantly changed Siemens' €70 billion business. Where processes were once manual, they are now digital and virtual. Physical machines can be virtually commissioned and large power plants exist virtually and are networked. X-ray images are now digitally analyzed. Siemens has over 280,000 connected devices in its installed base. Digital transformation is a core strategy for Siemens across healthcare, industry and energy, and Siemens is transforming itself to help customers with this change. Innovation is key, thinking big but starting small and scaling up, through experimentation, ecosystems and localizing innovation.