The term “industry 4.0” originates from a German government initiative focused integrating the manufacturing industry with internet technologies.
The initiative aims to accelerate the integration of next-generation technologies like big data, cloud, high-performance computing and the Internet of Things with advancements in areas like artificial intelligence, autonomous systems, and 3D printing. It aims to achieve this goal by fostering public-private partnerships, encouraging interoperability standards, and reducing or removing outdated regulatory restrictions.
The concept of this “digital transformation” of manufacturing has spread to include many industries such as logistics and transportation, oil and gas exploration, building maintenance, utilities, traffic management and even healthcare. The concept has caught on in a big way, as shown by this map that highlights a number of industry 4.0 initiatives, some of which refer to the trend as “Smart Industry.”
Whatever it’s called, the effects will be far ranging on both businesses and consumers as companies modernize through embracing these transformational technologies.… Read the rest