Industrial revolutions are massive significant events and currently, we are talking about four of them. The first one was launched by introducing a commercially usable steam engine and the emergence of the textile industry. The second one is associated with electrification and mass production. And the third one began with the emergence of computers after World War II. And as Klaus Schwab mentioned at The World Economic Forum, we are now headed towards the fourth industrial revolution.

This revolution is also known as Industry 4.0 and refers to main technologies and innovations that have been gradually maturing and are implemented by the companies across the entire globe. These technologies integrate the physical and virtual world into completely new means and work procedures and bring absolutely unprecedented opportunities not only in the industry, but in almost all areas of life.

What technologies are the key ones? The internet of things!

It is an interconnection of physical objects, such as sensors and electronic devices, software and other assets, through the internet. The internet of things enables real time communication, initialization of physical devices and also whole systems and is the absolute basis of all smart technologies. It offers the option to build digitized supply chains working as completely connected ecosystems that are completely transparent from the perspective of marketing, development, production and distribution departments.

Big data and advanced analytics

Vast amounts of data come hand in hand with the internet of things. The way we are able to read these data and analyze them is crucial. For example, the availability of data from development, production and testing can add a whole new dimension of the means your products are produced, innovated and offered to customers.

Robotics and automation

In production, robots are being extensively used already. Within Industry 4.0, the utilization of robots could be much more massive with the idea of creating smart factories where robots are able to take over all physical work regarding production of goods and supply them to customers almost without the need of human intervention. Even here, we can see the use of interconnection of the physical and virtual world with communication systems.

Simulation techniques

Dynamic simulation is nothing new. Goods and processes can be virtually modeled and tested. Time, material, effort and also money savings are therefore enormous. Extensive systems, processes and project planning can’t be done without simulation and testing using digital twins.

3D printing and augmented reality

These technologies are not yet used very often, however their potential is not negligible. Thanks to 3D printing, we are able to quickly and easily produce complex, customized products. Augmented reality will come in handy when it comes to staff training, for example, in the future. With the utilization of augmented reality, employees can be trained much better and more effectively in comparison with the traditional paper manual or a common computer. And it doesn’t end with training. Augmented reality can be used excellently within logistics and warehousing or in production as well.

Why should we invest in Industry 4.0?

Industry 4.0 is not only a popular and frequently used phrase. The truth is that businesses are starting to invest in new technologies and the ones that still procrastinate are risking being left behind. The growing competition is expressed in the constant effort to improve customer care which also brings the requirement of constantly examining new ways of production, delivery and services.

In the near future, products will have to be more personalized to individual customers, which will require a change in production, delivery and the overall handling. For most enterprises, many of these changes are unreal now, that’s why they will have to include modernization in their priorities. And that’s what Industry 4.0 is about – change of thinking, processes and business models.