With the advancement in technologies and competitiveness, the world is now soon embarking on its journey to the new industrial revolution; Industry 4.0. Industry 4.0 refers to the integration of digital tools like the Internet of Things (IoT), Cloud Computing, big data, Simulation, etc. All aspects will be interconnected with each other, constituting the enhancement of productivity, flexibility, and efficiency. This process would reduce Human Involvement in the manufacturing process making it entirely automated.
Industry 4.0 will have a huge impact on productivity, efficiency, and revenue generation. All the machines interconnected with each other would give rise to gathering and analyzing the data faster and overall boosting productivity. The interconnection between the systems will help them to interact with each other using protocols based on the Internet and it would help to interpret data, acknowledge possible failures and adapt to respective changes. The possibility of error would be declined significantly. Also, the interconnectedness between the systems will help to gather data across the machine enabling speedy, flexible, and effective processes. The adequate use of raw materials and energy by the machines will enhance the efficiency of the production process. This would enhance the overall efficiency of the organization. Furthermore, with Industry 4.0 the manufacturing flexibility would also be increased through machines and robots, as they can execute production for large varieties of products.
With Industry 4.0, there will be a lot of changes that we will be witnessing, and it would somehow change the shape of the global market. The autonomous robots would be there to tackle complex assignments. The robots would be able to interact with each other and make proper decisions and have a greater range of abilities than the ones used in the present day. Furthermore, the world would witness Horizontal – Vertical System Integration. In this system, all the cyber-physical systems will be connected. The companies, departments, and functions will interact, making the industry more cohesive and ultimately giving rise to the Universal Data Networks and the Automated Value Chains. Shortly, we will also see the use of IIoT (Industrial Internet of Things). The sensors and machines will be enhanced with embedded computing where they would interact with each other using standard technologies where the interaction will be quicker with centralized controllers, enabling real-time responses. In the next 5-10 years, Industry 4.0 will be adopted by almost all the companies globally, enhancing their productivity and efficiency massively.
The advanced economies will be implementing the concept of Industry 4.0 soon. The embracement of technologies which includes IoT, Cloud Computing, etc will embark on the journey to flexible, intelligent, and autonomous manufacturing. Industry 4.0’s adoption will mark the onset of further improvisation of living standards and human’s interconnectedness to machines. The companies who would be slow in the revolution might disappear as they would be backward technologically when it comes to their competitors.
Industry 4.0 will radically transform our lives from the personal and professional point of view, as we will be witnessing unprecedented possibilities enhancing our lives and providing us with a new universe of opportunities.