The marriage of advanced manufacturing techniques with information technology, data, and analytics is driving another industrial revolution—one that invites manufacturing leaders to combine information technology and operations technology to create value in new and different ways.
What is Industry 4.0?
Industry 4.0 is a set of technological changes to create a coherent framework to be introduced in the manufacturing process. Of course, the backbone of Industry 4.0 relates to how products are made, the phenomenon will most likely affect every part of our world and has implications for all types of business. A simplistic definition of Industry 4.0 is the “application of the IoT, cloud computing, cyber-physical systems (CPS), and cognitive computing into the manufacturing and service environment. Automation and connectivity within the manufacturing world is not new.
It is classified as Industry 4.0 because it follows the third industrial revolution of the age of computers and takes that a step further and refers to self-running computers fueled by data and machine learning. As factories become smarter, learning from an influx of data from all its systems, they will become more productive and less wasteful. “Industrie 4.0” was initially coined in 2013 by the German government and is part of its High Tech strategy with the intention to maintain and avoid losing industrial advantages against other countries.