Technology and Innovation Strategy with the CTO of Caterpillar

Welcome to CXOTalk episode 807, with Karl Weiss, Chief Technology Officer at Caterpillar, an iconic brand and a leader in construction and mining equipment with over 100,000 employees, $60 billion in revenue, and 1.4 million connected assets globally,With 35 years of experience at the company, Weiss brings a nuanced understanding of how technology shapes business outcomes.Weiss shares Caterpillar's approach to innovation, which is led by customer needs. He highlights the use of autonomous and AI technologies in mining trucks and other heavy equipment, explaining how machine learning, virtual reality, digital twins, and data analytics contribute to safer and more efficient operations. He also mentions Caterpillar's steps towards electric vehicles, sustainability, supply chain resilience, and the exploration of emerging technologies such as autonomy and connectivity.This in-depth conversation includes these issues:► Caterpillar’s customer-driven approach to innovation, leveraging autonomy, AI, and machine learning to enhance the safety and efficiency of mining trucks and heavy equipment.► The role of data analytics, digital twins, VR, and telematics in enabling predictive maintenance, remote monitoring, and virtual prototyping, aiding faster development.► Caterpillar's global strategy, focusing on regional talent recruitment, local manufacturing, and collaborations to meet diverse customer needs across different markets.Throughout the discussion, Weiss stresses the alignment of business, technology, and innovation to meet customer demands, sharing insights into managing a large technology portfolio across diverse global markets. Whether you’re a senior executive, a technology enthusiast, or someone interested in the confluence of business and tech, this episode promises a deep dive into the practical, strategic, and technical facets of leading a global enterprise in a digitally connected world.Karl Weiss is chief technology officer and a senior vice president of Caterpillar Inc., responsible for the Integrated Components and Solutions (ICS) Division. ICS designs and builds components and systems that are used across the Caterpillar portfolio and also provides technology leadership, engineering, research, validation and manufacturing services to the enterprise.Since joining Caterpillar in 1988, Weiss has had various assignments within product development at Caterpillar’s Decatur, Joliet, and Aurora facilities, primarily focused on large machine structural design. He subsequently transferred to Geneva, Switzerland, with Caterpillar Global Mining as an equipment management consultant serving mining customers and dealers in Europe and Africa. Weiss then became the large wheel loader new product introduction manager in Aurora, Illinois. He and his family then moved to Beijing, China, for four years, where Weiss served as the wheel loader product manager for the Asia Pacific region. In that role, he managed the integration of Shandong Engineering Machinery (SEM) as Caterpillar’s entry into the China wheel loader market. Weiss served as the worldwide product manager for medium wheel loaders in Aurora. In 2013, the Caterpillar board of directors named Weiss as senior vice president of Earthmoving. He was then named senior vice president of Material Handling & Underground in August 2017 and senior vice president of ICS and chief technology officer in May 2019.Michael Krigsman is an industry analyst and publisher of CXOTalk. For three decades, he has advised enterprise technology companies on market messaging and positioning strategy. He has written over 1,000 blogs on leadership and digital transformation and created almost 1,000 video interviews with the world’s top business leaders on these topics. His work has been referenced in the media over 1,000 times and in over 50 books. He has presented and moderated panels at numerous industry events around the world.<br...