What are Industry 4.0 and the Internet of Things all about?
Industry 4.0 is here. How have we come this far? When we look back in time, we discover enormous changes. And when we look at today and into the future, we see that progress occurs in even shorter cycles. Starting back in the 18th century with the First Industrial Revolution, keywords like mechanical production, income and population increase were hot topics. This was followed by the Second and Third Industrial Revolution where mass production and the first electronic tools were introduced. Today, we are in the Fourth Industrial Revolution. Everything is faster, smarter but also more volatile.
Innovations dominating Industry 4.0 include:
- Sophisticated sensors
- Cloud computing
- 3D printing
- Artificial intelligence
- Advanced robotics
Industry 4.0 is a hot topic around the globe. We call it Industry 4.0 but it has different names in other countries.
Check the following graphic to find out what it’s called around the world:
As already mentioned, the Internet of Things is predominant within Industry 4.0. But you’re benefiting from smart devices not only in industry but also in your everyday life. The Fitbit you’re wearing, the app that you use to control your in-home LED lighting and Nest thermostats are only a few examples. In terms of industry, this revolution entails the utilization of cyber-connected systems which monitor factory processes to maximize efficiency and reduce downtime. According to Bossard, factories and businesses that have adopted Industry 4.0 share four common characteristics:
- Information transparency
- Technical assistance
- Decentralized decisions
Identifying these four characteristics is only the first step in getting ready for Industry 4.0. Discover how Industry 4.0 will impact your supply chain in a newly released E-Book.