Why Should Businesses Adopt Industry 4.0 Technologies?
By | Bernard Marr | Internationally best-selling author, keynote speaker, futurist, and strategic business & technology advisor
The simple answer to “Why should businesses adopt Industry 4.0 technologies” is that Industry 4.0, the 4th Industrial Revolution, is not a concept that will come in the future; it’s here right now. If you don’t adopt these technologies that result in being more productive, create less waste, and that improve products and customer service, it won’t be long before your business loses relevancy.
What is Industry 4.0?
Industry 4.0 or the 4th Industrial Revolution refers to the new stage of transformative technologies changing industry—networked cyber and physical systems. You might recall the other revolutions; steam and water power, electricity and assembly lines, and computerization that metamorphosized industry. The 4th Industrial Revolution builds on the 3rd Industrial Revolution of computerization, but now computers mingle with the physical, digital, and biological worlds to create smart machines, interconnected devices, artificial intelligence, and machine learning. From interconnected supply chains to intelligent robots and predictive maintenance, this new revolution requires that everyone rethink their businesses. It will impact all disciplines, economies, and industries.
Benefits of Industry 4.0 Technologies
While the actual use cases of Industry 4.0 technologies might be different for various companies, the benefits fall into similar buckets. These benefits apply to every company in every industry, so it’s critical that you begin to adopt, if you haven’t already done so, some part of Industry 4.0 technologies.
Not only are companies able to manufacture products more efficiently, but they can also keep systems running thanks to sensors on machines that provide predictive maintenance (capable of sending alerts of potential equipment failure so humans can intervene before factory lines need to be down). By gathering and processing big data, machines can identify opportunities to improve operations, troubleshoot issues quicker than humans are able to process the same information. The reality of real-time analysis and communication throughout operations enables quicker optimization of the entire system.