WHAT IS INDUSTRY 4.0?
We are hearing these terms often now like Industry 4.0, web 3.0, Quality 4.0 etc. and all these sounding like the names of tech sci-fi movies. In this article, let’s see what Industry 4.0 actually is on a macro level.
In fact Industry 4.0 refers to the 4th Industrial Revolution, a phase in the evolution of industries specially manufacturing and supporting processes.
We have had three Industrial Revolutions in the past, the first happened during the 18th century, with mechanization.
The Second Industrial Revolution took place around the early 20th century with advent of automobile industry with improved manufacturing processes and assembly lines.
The Third Industrial Revolution took place in the 1960s and 70s with more use of computers and related implementation of digital technology.
Industry 4.0 really started to take shape in the 2010s, as computers became more powerful and the internet became more interconnected than ever before. The main change was the introduction of the smartphone (The iPhone 3G in 2009), as it brought exponential development of applications which could link devices, and the widespread use of Bluetooth and wireless technology.
These days, the term Industry 4.0 is commonly used as a buzzword for smart manufacturing, and supporting smart processes by interconnecting and integration of the processes for simplification by using the exponential technologies.
The main idea of Industry 4.0 is to create a well-rounded and holistic ecosystem for manufacturing processes, technology and applications. This idea of smart manufacturing will revolutionize how products and services are developed, processed, transported, retained, inspected and lead to more automation and less routine manual labour and resources.
The 9 core pillars of Industry 4.0 and its development are:
- Big Data and Analytics
- Autonomous Robots
- Horizontal and Vertical System Integration
- Industrial Internet of Things (IIoT)
- The Cloud
- Additive Manufacturing
- Augmented Virtual / Mixed / Extended Reality; Blockchain
The Fourth Industrial Revolution is extremely relevant and increasingly important for a multiple reason. It represents the next wave of technology driving efficiency across all operations not just in manufacturing but transactional and service processes.
Failing to adopt the new technology of Industry 4.0 will cause organizations to fall behind, competition.
In technology strategy, the “second half of the chessboard” is a phrase, coined by Ray Kurzweil. Many of us know the wheat grain and chessboard story…In that While the number of grains on the first half of the chessboard is large, the amount on the second half is vastly large Organizations need to assess industry 4.0 readiness and act fast and act fast.
Is your organization industry 4.0 ready?
At what level you are?
Is your technology strategy aligned to industry 4.0?
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