In the modern era of technological advancements, business and industries have been transformed into a new oscillation of digital technology. Thanks to digitalization of manufacturing for making people's lives so easy and comfortable. This type of intelligent transition is simply named as Industry 4.0 or the fourth industrial revolution.
The world's population is increasing day by day and is seeking for permissible solutions. The first digital revolution made it possible to process and store data digitally with the help of transistors. Later on, third industrial revolution made use of computers that were designed with complex interventions to allow automation of tasks. However, the third revolution used simple automated mechanisms that needed to be formulated by a person and didn't understand its own purpose. But now, the fourth industrial revolution has taken automation to the next level. It operates without human intervention and appreciates the good processing and what is needed to be improved, all by itself.
Today, mobile sensors can track down inventory from manufacturing units to the shipping channels to customer's door or a retail shelf. Machines alert about errors, breakdowns, quality control and supply shortages. Financial institutions are helped by behavioral analytics to spot the doubtful activities in credit card accounts or bank. All of this is made possible by advanced technologies of artificial intelligence, mobile, 3D printing, cloud computing, etc.
Importance of industry 4.0
- The dynamic combination of technologies offered by industry 4.0 has added productivity, accuracy, and efficiency to the industries. It also provides personalized customer service to the industry and business in prodigious ways.
- Industry 4.0 has lowered the cost of doing business and increased profitability with better agility and flexibility.
- It has enhanced the collaborative working and increased knowledge sharing of different departments regardless of time zone, location and any other factors.
- They allow better customer experience with the in-depth information availability and quick responsiveness offered by manufacturers .
Do we need to panic?
By investing in industry 4.0 for your organization, you might face some of the challenges for incorporating new processes and technology. But you are not alone! Some of the questions causing people to panic are:
- Will the customer information and the data of our business be safe?
- Do we have appropriate staff and resources to execute and manage this technology?
- Will I get the team support?
- Will I know about data leverage mechanisms to make more wise decisions?
Even the headlines are causing people to panic like:
- “Automation could kill 73 million U.S. jobs by 2030” (USA Today,2017)
- “How the robots will take your job and kill the economy” (Fast company,2015)
- “Job loss from AI? There’s more to fear!” (Forbes, 2018)
Relax, nothing to worry about as the story is more equitable than the headlines implicit. Industry 4.0 is all about revolutionizing your entire business operation and growth. The new technology offered by industry 4.0 keeps the information of your business and customer’s data safe and secure by leveraging deep security expertise and by deploying cyber-security measures. We have to focus on the way it will transform the direction of our living and work. Wherever one door shuts another opens, obviously this advancement might make some jobs redundant, but, it will provide new job opportunities at the same time. The employee experience will take on a new level when he will be free of monotonous tasks and will be able to benefit himself from more rewarding and exciting tasks. Industry 4.0 is even improving the productivity of businesses by minimizing error rates without inducing mass redundancies.