In contemporary times, we are seeing a tremendous change in the way products are being manufactured, in various industries. This is with respect to the usage of several sophisticated technologies in different manufacturing processes. Market experts call this major change “Industry 4.0”, to indicate that this technological surge in the manufacturing sector is the fourth Industrial Revolution.
Here, it is going to be worthwhile to succinctly speak about some salient aspects. These aspects shall give the laymen a basic idea as to what Industry 4.0 actually is.
- Industry 4.0 can be considered to be a logical continuation of the third revolution, which witnessed companies starting to make use of computers. The fourth revolution has brought further sophistication. The computers and other devices are now connected were communications between them are taking place in a simplified way.
- This is a striking feature of the fourth Industrial Revolution. Technologies such as Artificial Intelligence (AI), Machine Learning, IoT (Internet of Things), and data analytics are being adopted by numerous manufacturing plants.
- As a result of the above technologies, there is a drastic improvement in both the quantity and quality of the output. Additionally, there is a marked decline in errors that can have serious cost implications and which lead to wastage of time, as well. Factories powered by these sophistications are enabled in identifying errors in the early stages only. There are then no hassles in initiating timely corrective measures.
- The technologies seen in Industry 4.0 are suitable to be used by all industries. Whatever might be the precise product that a plant manufactures, things like Machine Learning and AI are going to be of immense value. This is applicable even to sectors like mining and oil & gas.
- There should be no hesitation in stating that “digitization” can be viewed as a synonym for “Industry 4.0.” Increased reliance on digital technologies is making sure that manufacturing products customized as per user preferences have become much simpler than ever before.
- While emphasizing the innovations of the fourth Industrial Revolution, a specific mention has to be made of digital twin technology. This particular technology ensures that manufacturers are first able to see processes, installations, and applications, virtually. They will then get a perfect idea of how to go ahead with things, in real-life situations. The fact that this significantly minimizes the risk element necessitates no special mention.
- We have another technology that is positively impacting the manufacturing sector in Industry 4.0: 3D printing. With the presence of 3D printing, which is an eco-friendly technology, the process of designing the product is now easier. Also, this printing plays a pivotal role in bringing down the overall costs of production for the plant.
Given the speed at which Industry 4.0 innovations are finding their way into many manufacturing entities, experts have made a prediction. Within the next three years, more than 60% of manufacturers are going to come under the fold of the fourth Industrial Revolution. The situation then will be conducive to the advent of Industry 5.0.
The subject “Industry 4.0” is an exhaustive one, and all its details cannot be covered in a small write-up. Yet, the article has sincerely attempted to include points that would suffice to provide basic knowledge to laymen.