Industry 4.0 and digitization are currently some of the most-discussed and yet least understood topics within manufacturing today.
With still a lot of confusion surrounding Industry 4.0, today, we'll be exploring the key technologies behind Industry 4.0 and how these technologies are changing manufacturing.
Industry 4.0 is signaling a change in the traditional manufacturing landscape. Also known as the Fourth Industrial Revolution, Industry Industry 4.0 brings together information technology and manufacturing processes. Thanks to advances in IIoT and automation, as well as data analytics and artificial intelligence, the production line can be optimized to maximize efficiency and even be adjusted on the fly..
Deloitte Insights reported that the new Industry 4.0 technology helped to create 3.5 million new jobs between 2001 and 2015 in the United Kingdom alone.
The Wave of Industry 4.0 in Manufacturing
The term "Industry 4.0" signifies the beginning of the fourth industrial revolution – the previous three being mechanical production, mass production, and then the digital revolution.
Industry 4.0 is revolutionizing the way companies manufacture, improve and distribute their products. Manufacturers are integrating new technologies, including the Internet of Things (IoT), cloud computing and analytics, and AI and machine learning, into their production facilities and throughout their operations.
Developing smart factories provides an incredible opportunity for the manufacturing industry to enter the fourth industrial revolution. Using Industry 4.0 technologies in smart factories leads to higher productivity and improved quality. Analyzing the large amounts of big data collected from cameras on the factory floor ensures real-time visibility of manufacturing assets and provides tools in order to minimize equipment downtime. Replacing manual inspection business models with AI-powered visual insights reduces manufacturing errors and saves money and time. By applying machine learning algorithms, manufacturers can detect errors immediately rather than at later stages when repair work is more expensive.
Industry 4.0 allows the entire value chain to become more efficient, more flexible, more resilient and most importantly, more profitable. It brings improved visibility, connectivity, real-time decision making and operational intelligence created through artificial intelligence.
Industry 4.0 Technologies
Industry 4.0 has made the smart factory reality, thanks in part to the widespread use of digital technologies in manual processes. Many technologies are working together to realize the full potential of the manufacturing 4.0 movement.
Diving a little deeper, as we said earlier, Industry 4.0 is driven by technological advancements, such as;
1. Industrial Internet of Things (IIoT)
IIoT is when interconnectivity and collaboration of data, machines, and people in the world of manufacturing. Every aspect of the manufacturing operation can be connected to the IIoT, and the data it creates can be leveraged into optimizing efficiencies across the manufacturing operation.
The ultimate goal of a connected factory is to maximize efficiency, therefore maximizing profits. To achieve, automation must be adopted into some or all of the manufacturing processes. Automation is made possible by the interconnectivity and communication that occurs across an Industry 4.0 optimized facility.
3. Artificial Intelligence
Artificial Intelligence and its subset of machine learning are practically a requirement for an Industry 4.0-enabled smart factory. AI can use the data generated from a connected factory to optimize machinery and identify overall improvements that can be made to drive efficiencies and ultimately revenue.
4. Big Data & Analytics
There are tons of data to sift through because every function of the manufacturing operation is being monitored and generating data. Moreover, big data analytics systems can utilize machine learning and AI technologies to quickly process data and give decision-makers the information they need to improve an entire manufacturing operation.
5. The Cloud
Manufacturers don't have or don't want to use the massive amount of space required to physically store vast volumes of data created in an Industry 4.0 operation. This is what makes cloud storage an absolute necessity and key cog in a connected factory. Cloud storage also allows remote access and monitoring of all data and machine operating systems, giving great visibility into operations and efficiencies.
According to IDC, manufacturers' global spending on cloud computing platforms is predicted to reach $9.2 billion in 2021.
Accelerate Your Operations with Industry 4.0
With new digital technologies emerging, now is an exciting time for the manufacturing industry. The opportunity to be future-ready begins with Industry 4.0. Do not hesitate to take the following steps toward this brave new world with Khenda.
For companies looking to begin their digital transformation, look no further than the Khenda's solutions. Our solutions are built specifically for manufacturers looking to stay competitive in their newly digitized industry.
Get help from our team for all your digital transformation needs!