What is Industrial Revolution 4.0?

Industrial revolution 4.0 (Industry 4.0) refers to the stage of industrial progress that we are currently experiencing, which is marked by the rapid increase of digital connection (with billions of people carrying mobile devices worldwide) and real-time data exchange.

Historically, the first Industrial Revolution mechanized manufacturing with steam and water power. The second began when electricity enabled factories to run day and night and handle mass production. The third, or digital, revolution is considered to have started with the computer age in the mid-1900s. Industry 4.0 marks an extension of that digital revolution.

The term was popularized by Klaus Schwab, German engineer and economist, in his 2016 book “The Fourth Industrial Revolution.” Today, this trend is revolutionizing the way the manufacturing industry uses smart technologies to optimize production processes.

While every manufacturing firm is different, they all strive for connectedness and access to real-time data across processes, products and workers. That’s where Industry 4.0 comes in.

If you want to learn more about industrial revolution 4.0 technologies, explore this article that answers the following:

How does the fourth industrial revolution work?
How are industrial revolution 4.0 technologies transforming manufacturing?
What are some benefits of industry 4.0?
Why is the fourth industrial revolution important in manufacturing?

How does the fourth industrial revolution work?

The fourth industrial revolution is transforming the way businesses manufacture, improve and distribute products. This trend places great emphasis on digital technology and smart factories, a cloud computing system that uses advanced technologies like AI to analyze data and automate processes.

It works by implementing smart factories with advanced sensors, software and robotics to collect and analyze data to make better production decisions.

AI and machine learning can interpret large amounts of data collected from sensors on the factory floor to create real-time visibility of manufacturing procedures.

By automating business processes, a company can free up workers to focus on more pressing responsibilities and leave mundane, day-to-day tasks to artificial intelligence.

Businesses that employ smart technologies can also reduce human error and perform predictive maintenance to minimize equipment downtime.

How are industrial revolution 4.0 technologies transforming manufacturing?

The Internet of Things (IoT) is a key technology in smart factories. Today, many machines on the factory floor come with sensors that feature an IP address that can connect to other web-enabled devices.

This type of connectivity makes it easier to collect, analyze and share data across departments to improve productivity. In a nutshell, Industry 4.0 allows for greater collaboration across departments and gives organizations better control and understanding of their business operations.

For instance, setting up cloud platforms gives businesses access to the latest data, processes and applications needed to run operations efficiently. Cloud-based platforms can be adapted and changed as organizational needs and technology evolve.

Similarly, AI and machine learning can give manufacturing companies a competitive edge by not only gathering valuable data on the factory floor, but also analyzing data across entire business operations.

For example, since machines are prone to breaking down, real-time data can help businesses execute predictive maintenance based on machine learning algorithms.

What are some benefits of Industry 4.0?

The fourth industrial revolution is resulting in tons of benefits to manufacturing processes. Some of those benefits include:

1) Optimizes supply chain management: Industry 4.0 solutions can provide greater insight, control and real-time visibility across a business’s entire supply chain. As a result, companies can deliver products and services to market faster.

2) Improves collaborative work: Smart technologies boost collaboration between departments regardless of location, time zone, platform or other factors. For example, data gathered by one sensor on a machine can be transmitted to other departments. As a result, improvements can be made across production lines in real-time.

3) Enhances customer experience: Industry 4.0 technologies can also help improve the services you offer and enhance customer experience. For instance, automated track and trace capabilities can quickly pinpoint and any problems that may come up with inventory so you can resolve them. In some cases, the programs themselves may be able to clear the problem and keep inventory moving. This type of automation can help reduce any issues with product availability and delivery.

4) Reduces production costs: A smart factory uses resources more efficiently to manufacture products faster and help reduce any product waste. This can lower operating costs and bring value to the customer.

Why is the fourth industrial revolution important in manufacturing?

Applying industrial revolution 4.0 solutions can transform the way manufacturing companies operate, from boosted connectivity to improved operations.

For example, smart technologies enable manufacturers to more accurately schedule deliveries and share production data with suppliers. If an assembly line is experiencing disruptions, workers can reroute or delay orders to reduce wasted time and money.

This type of data analysis is ideal for decision making. Embedded sensors and interconnected machinery deliver data at every stage of the production process. Data analytics can help manufacturers analyze trends, identify patterns and make better informed decisions about what’s working and what’s not.

Smart factories can also use data from human resources, sales or warehousing to make production decisions based on sale margins and employees.

Augmentir is the first AI-powered connected worker solution that helps industrial companies use smart technologies to optimize the safety, quality and productivity of the industrial frontline workforce.

We can help you take advantage of Industry 4.0 tech in your manufacturing operation. If you’d like a demo, let us know and we’ll be in touch.

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