What is Industry 4.0? It is the Fourth Industrial Revolution and all of its game-changing technologies and concepts. The previous three industrial revolutions are broadly considered to be the advents of mechanisation and steam power, electricity and assembly lines, and electronics, computers, and automation.
The fourth one is the rise of industrial applications in our data-driven, highly interconnected world. It is characterised by industrial machines connecting to the internet and each other, allowing rapid execution and optimisation in quality control, supply chain management, maintenance, and automation. Industry 4.0 also deploys cloud computing, AI, machine learning, and robotics to reduce waste and increase energy efficiency to improve operating costs.
Businesses operating in Industry 4.0 have a better understanding of their operations and can more nimbly succeed in this fast-paced revolution.