Why Do We Need Industry 4.0?

WHY DO WE NEED INDUSTRY 4.0?

Overview

The first three industrial revolutions significantly changed the world, but this fourth revolution will transform our way of living.

Industry 4.0 has brought in a new era wherein technology combined with artificial intelligence, robotics and the complete automation of business processes to increase efficiency and productivity of the entire modus operandi. Investing in such digital solutions that can transform your physical operations, means a beneficial strategy to make your organisation future-proof.

What is Industry 4.0

Industry 4.0 is entitled to the transformation of traditional industrial platforms into interconnected, digital solutions that are capable of constant autonomous improvement and automation.

This transformation is driven by major technological advances such as the Industrial Internet of Things (IIoT), Internet of Things (IoT), and inter-connected devices on AI networks.

Combining the real and the digital worlds

It is only possible through industry 4.0 to combine both worlds and seamlessly incorporate the entire value chain while optimizing it with a nonstop flow of data. This enables an enterprise to harness the indefinite power of data by acquiring valuable insights to make well-informed decisions and manufacture best-in-class products through resourceful production.

This automation has been proven to be hugely beneficial for the industry. Visionary companies that welcomed industry 4.0 are already reaping its sweet fruits. Take a look at the bunch of benefits it has to offer.

Key benefits of industry 4.0

Smart products

AI network connected, self-aware products, capable of sharing information about their location, usage level, storage conditions, overall health and more. The data provided by these smart products can help in improving everything from R&D, logistics, product quality and customer service. They are also capable of anticipating service needs, receiving automatic upgrades, and opening the door to new, service-based business models.

Smart factories

Smart factories are fully digitised. Autonomous facilities that take full advantage of advanced technologies like artificial intelligence, big data, robotics, analytics, and the IoT. These factories are self-correcting, implementing smart manufacturing 4.0 processes, and making it possible to deliver customised products at a large scale.

Smart assets

Almost all physical assets manufactured today have built-in sensors that are connected to the IoT and analytics and are game-changers for company asset management. With such intelligent assets, technicians can monitor the performance in real-time, forestall and avoid downtime, implement dynamic and predictive maintenance, integrate assets and business processes, and take advantage of digital twins.

Empowered people

Despite having an autonomous system, you will always require productive people in your enterprise. They usually spend a lot of time performing repetitive tasks like copying and entering data across disjointed systems. Industry 4.0 automation helps automate any business processes like triggering responses, integrating incompatible systems, and executing tasks in conditional sequence without breaks and zero mistakes.

Advanced technologies like cloud computing, artificial intelligence and access to live sensors can help them make informed decisions and tackle random issues on their own. Augmented reality apps and wearable devices can also help them solve problems, and monitor the overall performance of the operations.

Companies that dared to change are experiencing the benefits

Industry 4.0 solutions are helping hundreds of companies transform their mode of operation to the digital – reinventing manufacturing processes, focusing on customers, and connecting the entire value chain of the organisation.

Significant productivity improvements

Businesses are making well-informed, data-driven decisions across all operations. This improves forecast accuracy, supports on-time delivery, and helps in building profit-optimised plans.

Progress despite market shifts

Industry 4.0 enabled companies are shaping the future of business supply chains based on advanced planning.

Confidence to explore new business models: With the help of industry 4.0, businesses are minimising costs, improving efficiency, and connecting supply chains by sea, land, and air

Sustainable business solutions without losing profits

It is more productive and cost-effective to go digital, and meet the environmental objectives at the same time, without compromising on business goals.