Industry 4.0, another term being batted around for the Industrial Internet of Things (IIoT) to explain the next-generation of industrial manufacturing and a new data exchange paradigm, is bleeding into multiple industry dialogues to describe the new landscape of how things are being made. With all the hype surrounding the idea of a “smart factory,” it seemed fitting to turn our attention towards highlighting our top news being reported on Industry 4.0.
Industry 4.0: the urgency of data standardization
“Sometimes presented as the new industrial revolution, Industry 4.0, primarily represents an advance in production means and practices. Characterized by interconnected machines and systems, it involves making production and supply chains smarter in order to improve efficiency in resource allocation and increase agility in production processes.”
“Industrial Analytics (IA) describes the collection, analysis and usage of data generated in industrial operations and throughout the entire product lifecycle, applicable to any company that is manufacturing and selling physical products. It involves traditional methods of data capture and statistical modeling. However, most of its future value will be enabled by advancements in connectivity (IoT) and improved methods for analyzing and interpreting data (Machine Learning).”
“Drones are transforming agriculture — giving farmers new tools to supervise crops and check on fields from the air — and 2017 will be be a pivotal year for adoption, say industry experts.”
By IW Staff | Published on @IndustryWeek
“Nearly 90% of manufacturing leaders surveyed by BCG regarded adopting Industry 4.0 technologies as a way to improve productivity, but only about one in four see opportunities to use these advances to build new revenue streams. Many are pursuing isolated initiatives scattered throughout the company, BCG found in its new report, “Sprinting to Value in Industry 4.0,” without a clear vision and coordination from the top.”
“There’s a interesting new report out from BCG this morning on “Industry 4.0” – the German’s preferred term for how big data, cloud computing, sensors, advanced analytics, augmented reality and improved robotics are dramatically changing the world of manufacturing (known in GE-land as the “Industrial Internet”).”
As we conclude another round of top news, we hope you were inspired and informed about the latest in Industry 4.0. It’s clear that business digitalization will only continue to add more technology, whether that be IoT, sensors, cloud computing and other solutions. Our job is to be ready and informed about how tomorrow’s technology could help enterprise digital transformation today.