What is Industry 4.0 and How It will Impact Businesses
Industry 4.0 or the fourth industrial revolution is a highly innovative and transformative concept that will deploy an assortment of advanced futuristic technologies in industrial production processes.
As the number indicates, Industry 4.0 had prior iterations with the advent of each new technology making its way into the production process. People used to purchase handcrafted products from craftsmen trained to manufacture each product.
Industry 1.0 or First Industrial Revolution
As human capacities could only be limited, handcrafted products could not be mass produced. So, the first Industrial Revolution or Industry 1.0 came into being to enable mass production. In Industry 1.0, factories used machines that could be made to function with the help of water and steam engines.
The first industrial revolution was true revolution but then it overused labor to scale up production capacities, which drew a lot of criticism. So, after almost a couple of centuries, this and many other factors led to the advent of Industry 2.0.
Industry 2.0 or Second Industrial Revolution
The second industrial revolution or industry 2.0 used electricity instead of water and steam engines to automate industrial production. Assembly line, as an innovation, happened during this period to ensure mass production was even more prolific. If we considered mechanization of Industry 1.0 as semi-automation, industry 2.0 with the use of electricity is where automation truly began.
Industry 3.0 or Third Industrial Revolution
Most of us have been living during this period to witness the transformation of industry into even more automated and computerized processes. Computers reduced the inertia of electrified processes to regulate and optimize production processes.
Use of computers restored a sense of control in avoiding wastage and producing in specific quantities. Precisely, at this moment, we took the next big step, desiring even more accuracy and control.
Industry 4.0 or Fourth Industrial Revolution
Industry 4.0 uses not one but many interrelated technologies as Artificial Intelligence, Machine Learning, Internet of Things, Robotic Process Automation, Cloud Computing, Cyber-Physical Systems, Data Analytics, etc.
Like Bitcoin and blockchain, Industry 4.0 began almost with the advent or ideation of the Internet of Things (IoT). What Bitcoin was to Blockchain, IoT, more of less, was to Industry 4.0. Similarly, we can also say that what electricity or the computer was to Industry 2.0 and 3.0 respectively, IoT is to Industry 4.0
Industry 4.0 or the Fourth Industrial Revolution is when inanimate objects will gain sensory perception using sensors and cameras to sense both itself and its environment. This can be highly useful in self-driving cars that will be programmed to (learn to) prevent accidents.
The industrial use of technologies like IoT, AI, ML, RPA and Data Analytics in Industry 4.0 will lead to what is now called “Smart Factories”.
The concept of smart factories is also highly futuristic, as most of what can make a smart factory are still in their fetal stages. Smart factories may deploy a combination of advanced technologies like AI, Machine Learning, IoT, RPA, Cyber-Physical systems, etc.
RPA is Robotic Process Automation and Cyber-Physical Systems are physical products digitally connected to generate, communicate and transmit data. They may also even sense the environment around them.
Although much hasn’t been made of Smart Factories, suffice to say that smart factories will identify the problem, find solutions and even fix the problems in machinery and equipment to ensure continuous production. It can also leverage smart technological processes as asset tracking, predictive analytics, optimization of supply chain management, etc.
Integration of all these technologies in a smart factory can lead to greater efficiency, higher quality and increased profitability, as production processes get even more optimized and automated than now.
We explore futuristic tech as IoT, AI, Machine Learning, Industry 4.0 and Smart Factories to pioneer them. Write to us at [email protected] and visit us at www.twilightitsolutions.com to explore how you can leverage and deploy these technologies in your business.