Glossary
Industry 4.0
Industry 4.0 is the digital transformation in manufacturing, distribution, oil, gas, utilities, and more, occasionally considered to be a new industrial revolution.
It is the bridge between the physical and digital systems, known as “cyber-physical” system. (You need to chrome up your industry! Everything is chrome in the future!)
Some major hallmarks of Industry 4.0 are big data, the Internet of Things, and A.I., and the union of these ideas to revolutionize how factories and production systems work as demands shift and increase with a rapidly changing world.
With every market and business competing for the top and the surge of international giants like Amazon, Google, and Apple, the idea of top-of-the-line technology is no longer an option; it’s a requirement.
By using the new technologies highlighted by the Industry 4.0 shift, companies can run faster, do more, and adapt with swifter accuracy to an uncertain future. The stock market can change based on a tweet. Seriously! Several years back, a fake White House tweet said President Obama had been attacked. The tweet was only up for twenty minutes, but in those twenty minutes, the stock market went down a full percent, which was linked to the fake tweet. That’s the kind of swift future we are looking at.
Every step of the process, from acquiring materials to manufacturing, shipping, and transactions, has been reshaped in the image of Industry 4.0.
However, this does come with its fair share of challenges. Industry 4.0 strains industries with the demand to change and adapt, especially industries with a history of tradition. Enterprise Resource Planning (ERP) software has become far more prominent across all industries as the modern ERP can undertake these challenges to empower ambitious companies.
However, Industry 4.0 also benefits the consumer. The ability to trace and track shipments, packages, materials, increase customer service with A.I., and reduce industry bloat makes for a faster business world.
So, the new revolution is upon us, and it will be televised in glorious 8k.