The term Industry 4.0 was coined by German Government which indicates use of latest digital technologies like Internet of Things in manufacturing industry.
Sometimes it is also known as Industrial Internet of Things (IIoT). It refers to the 4th industrial revolution.
Here is the brief history of industrial revolutions:
- Industry 1.0: use of water and steam power
- Industry 2.0: introduced mass production with the help of electric power.
- Industry 3.0: use of electronics and IT to further automate production.
- Industry 4.0: digitization of manufacturing with the use of Internet of Things, Big Data, automation of processes with Robots, 3D printing, drones & Artificial Intelligence (AI)
In the Internet of Things, sensors having the ability to collect real time data which can be used by manufacturers and producers. The advancements in big data and powerful analytics means that systems can scan through the huge sets of data and produce insights that can be acted upon quickly.
Smart factories, which will be at the heart of Industry 4.0, will take on board information and communication technology for an evolution in the supply chain and production line that brings a much higher level of both automation and digitization.
It means machines using self-optimization, self-configuration and even artificial intelligence to complete complex tasks in order to deliver vastly superior cost efficiency and better quality goods or services
Industry 4.0 represents a giant leap in the evolution of machines, today, our machines are connected with each other, their physical environments, and most importantly, to people.
Companies have just begun to adopt additive manufacturing, such as 3D printing, which they are using to prototype and produce individual components.
In the future, companies will make much broader use of augmented reality to improve decision making and work procedures. In the virtual world, operators will learn to interact with machines by clicking on a cyber representation. They will also be able to change parameters and retrieve operational data and maintenance instructions.
Manufacturers should make the most of Industry 4.0 with this adoption of digital transformation.