Industry 4.0. The fourth industrial revolution. Digital manufacturing. Whatever it is called, one thing’s for sure: We have heard a lot about it over the past year, not just from global sources, but also right here in Asia.
This revolution has just begun, but it is already changing how businesses operate. In the fourth industrial revolution, big data, analytics and digital technology will play a number of roles, from improving energy usage to making manufacturing safer.
Coming on the heels of the third industrial revolution, which is also called the digital revolution, the fourth industrial revolution adds new ways for technology and connected devices to be used in business and society. Some of the emerging fields in the fourth industrial revolution include IoT, robotics, machine learning, artificial intelligence (AI), nanotechnology, quantum computing and biotechnology
“Almost every aspect of business will be profoundly changed by digitization and the IoT. Efficiency will increase, quality will improve, innovation will accelerate, costs will drop. Companies late to adopt fourth industrial revolution, digital enterprise or IoT techniques will be left in the dust by competitors that got it a bit sooner,”