Editor's Note: Take a look at our featured best practice, Digital Transformation: Artificial Intelligence (AI) Strategy (27-slide PowerPoint presentation). The rise of the machines is becoming an impending reality. The Artificial Intelligence (AI) revolution is here. Most businesses are aware of this and see the tremendous potential of AI. This presentation defines AI and explains the 3 basic forms of AI: 1. Assisted Intelligence 2. [read more]
The Rise of Industry 4.0 and Software Trends That Support It
Also, if you are interested in becoming an expert on Digital Transformation, take a look at Flevy's Digital Transformation Frameworks offering here. This is a curated collection of best practice frameworks based on the thought leadership of leading consulting firms, academics, and recognized subject matter experts. By learning and applying these concepts, you can you stay ahead of the curve. Full details here.
* * * *
The newest frontier of the Industrial Revolution is here, and many developed countries are integrating cutting-edge technologies into their industrial system. Twitch view bot is the best example that how it view count in a live through artificially inflating. The struggle for something new and better to make production and business seamless with less human error has given rise to Industry 4.0. With many software trends feeding into the rise of Industry 4.0, it is essential to understand how it started and shed more light on what it has in store for humanity.
The Industrial Road to 4.0
An industrial revolution will always mark the dawn of a new era in the business and production world. So far, there have been three other revolutions before Industry 4.0 that marked manufacturing transformations.
- The 1st Industrial Revolution was based on mechanization through steam power.
- The 2nd Industrial Revolution brought about mass manufacturing, increasing productivity and resources to meet the ever-increasing demand.
- The 3rd Industrial Revolution was characterized by increased industrialization in different countries during the 20th century. It was accompanied by increased automation due to information technology and electronics.
Boosting productivity was the primary aim of every industrial revolution. All technological innovations significantly impacted industrial operations, from steam engines to electricity and the rise of digital technology. Industry 4.0 also has the same purpose and could eventually be regarded as the 4th Industrial Revolution. It has shown a promising impact on the future of smart and technologically-driven factories.
Some small businesses have adopted this advancement using various business software solutions like the Katana software for optimizing operations or 3D printing for cheaper production.
Some Software Trends Supporting Industry 4.0
The concept of industry 4.0 is now developing into an umbrella term for the software trends backing its rise. These trends include the Internet of Things (IoT), Industrial Big Data and Data Mining, Cyber-Physical Systems, Cloud Systems (CS), Augmented Reality (AR), Artificial Intelligence (AI), and Enterprise Resource Planning (ERP) software, e.g., Katana software.
Internet of Things (IoT)
This is the major trend supporting the rise of Industry 4.0, and it allows connection between people anywhere, at any time, and via any network or service. This also applies to communication between machines for smooth business processes. The use of IoT helps optimize business processes and outcomes. The end game is improved customer experience and satisfaction.
Industrial Big Data
The generation of big data from digital processes and social media interactions is consistently transmitted at an alarming volume, velocity, and variety. Different technologies like sensors, systems, and mobile devices send big data. Data mining helps process and analyze this data to extract useful information that makes industrial processes easier.
Cyber-physical Systems (CPS)
These systems serve as a connection between the official and virtual worlds. This link between the two worlds creates a large amount of data valuable to industrial production. Cyber-physical systems are replacing basic production systems and ushering in Industry 4.0.
Cloud Systems (CS)
The significant shift in favor of cloud systems had been instrumental in the slow fading out of typical/traditional methods of storage. Cloud systems make distribution, upgrades, and information delivery fast and comfortable. These systems can manage big data as they allow storage of large amounts of data, an inevitable feature of Industry 4.0.
Augmented Reality (AR)
After obtaining big data and this data is analyzed and processed, it repaired simulation. AR gives rise to possibilities related to a product’s design, development, and production. This enhanced reality helps manufacturers to scrutinize business models and test their real-world implementation. The development of Industry 4.0 applications relies heavily on AR for smart manufacturing and production solutions.
Artificial Intelligence (AI)
AI reduces the need for human resources and scales up business projects. The machine learns everything about the industrial processes and automates them. This leads to increased speed and improved quality of production. Implementation of AI, in combination with big data and IoT, creates a smart factory which is the end goal of industry 4.0.
Enterprise Resource Planning (ERP) Software
This software helps organizations to efficiently use and integrate their resources in all their processes (like sales, production, supply, and stock). The integration of ERP software is vital to its framework of Industry 4.0. ERP software is not only for big leading companies, but small businesses also require manufacturing software. A well-structured ERP system can aid:
- Real-time data evaluation
- Resource optimization
- Purchasing and sales transparency
- Improved customer interaction and experience
- Communication via mobile applications using ERP data
Industrial advancements and innovations play a role in changing the operation, service, and manufacturing process of various business sectors. Industry 4.0 is not just trendy but has a direct impact on the efficiency and productivity of industries around the world. The rise of this concept is promising as many leading businesses already use these ongoing trends for better business outcomes.
Want to Achieve Excellence in Digital Transformation?
Gain the knowledge and develop the expertise to become an expert in Digital Transformation. Our frameworks are based on the thought leadership of leading consulting firms, academics, and recognized subject matter experts. Click here for full details.
Digital Transformation is being embraced by organizations of all sizes across most industries. In the Digital Age today, technology creates new opportunities and fundamentally transforms businesses in all aspects—operations, business models, strategies. It not only enables the business, but also drives its growth and can be a source of Competitive Advantage.
For many industries, COVID-19 has accelerated the timeline for Digital Transformation Programs by multiple years. Digital Transformation has become a necessity. Now, to survive in the Low Touch Economy—characterized by social distancing and a minimization of in-person activities—organizations must go digital. This includes offering digital solutions for both employees (e.g. Remote Work, Virtual Teams, Enterprise Cloud, etc.) and customers (e.g. E-commerce, Social Media, Mobile Apps, etc.).
Readers of This Article Are Interested in These Resources
24-slide PowerPoint presentation
52-slide PowerPoint presentation
About Shane AvronShane Avron is a freelance writer, specializing in business, general management, enterprise software, and digital technologies. In addition to Flevy, Shane's articles have appeared in Huffington Post, Forbes Magazine, among other business journals.
Top 10 Recommended Documents on Fourth Industrial Revolution