Industry 4.0, or the fourth industrial revolution, is the next big step in the technological advancement of humanity that is already happening. Understanding this process and acting early on the upcoming changes give companies an undeniable advantage over their competitors in several fields. In this article, SOLVVE will guide you through some key aspects of Industry 4.0 to help you gain deeper insight into the process and get ready to level up your business.
What is Industry 4.0?
Industry 4.0 is a concept of coupling traditional manufacturing with smart technologies. This will allow to work with big data collected from the machines allowing for a more flexible, even more efficient, and much faster production process. Moreover, it becomes possible to heavily customize goods while reducing their costs.
Subsequently, getting on the track of the trend and modifying one’s business and production models to be compatible with it, companies will greatly contribute to economic growth through shaping economies in a new way. The unfolding of Industry 4.0 will also change how companies interact with one another on a local and global level.
Let us take a look at how exactly businesses will benefit from utilizing the Industry 4.0 approach?
Benefits of Industry 4.0
Ultimately, what every business would aim for to keep up with the pace is optimizing and maximizing their connectivity and transmission speed. Some ways to do it is through self-optimization, self-diagnostic, self-configuration, and supporting employees dealing with the complexity of such systems.
Looking at the overwhelming amount of things that machines would be able to perform by themselves it is only logical to expect an increase in productivity thanks to an increase in production speed and quality as well as diversity. Moreover, downtimes and maintenance windows will shorten or even fall to zero thanks to systems’ abilities to autonomously monitor their state, predict vulnerabilities, and breakdowns and take timely actions. Finally, adopting elements of Industry 4.0 today, it becomes possible to rapidly adjust to changes in demand and supply.
Thus, one may ask what steps to take to switch to the fast lane. Here are some insights into what is trending right now.
Trends of today
XaaS and Cloud. XaaS stands for anything as a service, where X is your deliverable to the customer. You have probably seen many products of this type, software as a service (SaaS) and platform as a service (PaaS) being one of the most common products of this type. Delivery of XaaS products relies on high-bandwidth and stable internet connection supported by cloud computing for flexible scaling and constant availability. Thus, investing in these areas and finding trusted experts today grants you a competitive advantage tomorrow.
On-demand availability as a continuation of possibilities granted by the advance of cloud technologies is a new must-have for many services. Being able to provide the client with your product or services exactly when they need it is not an extra addition or a premium feature anymore.
The pace of our life is fast and will probably only get faster. At the same time, we are no longer confined by the boundaries of our physical location. That is why the provision of services on demand anywhere anytime is a key capability to have for your business today and in the future.
IoT, AI, and Big Data – the three whales holding the whole world of future technologies. Bound together by data science and its multiple applications, we can already see each of these technologies trending separately. IoT, or the internet of things, has been on trend-lists for several years now, finding its way into different domains, from heavy industries to healthcare. AI, or artificial intelligence, is rooting beyond the IT sector, benefiting education, gaming, security, and many other industries. Employing them separately or together supercharges the whole production process, especially for manufacturing businesses.
How to become part of the change
Whether consciously or not, many companies have already taken the path of the transformation by digitizing their products and services. All sorts of electronic health records and document flow automation, enterprise resource planning systems and chatbots, as well as delivery of your services over the net, be it education or blood tests, are part of the shift towards Industry 4.0.
If you have any questions or ideas related to the trends of Industry 4.0, do not hesitate to contact us. SOLVVE experts will find the best solution for your goals and budget. Let us make this happen!