Industry 4.0 has been with us since 2011, when the term was publicly introduced by the German representatives from business, politics, and academia to advance German competitiveness in the manufacturing industry. The term encompasses automation and data exchange in manufacturing technologies, including the Internet of Things, Big Data, Analytics, Artificial Intelligence, Cloud, 5G, Cloud and Cognitive Computing. All of it is contributing to building a smart factory. A decade has passed, and even though the manufacturing industry has improved, the term significantly is still hype. We miss the connection with reality tied to business challenges and delivered value.
Do manufacturing companies really understand the benefits for their businesses and manufacturing plants, and what value does the implementation bring for their products, processes and supply chains?
In the sixth episode of Digital Business Disruptors, we focus on Industry 4.0 for Business. We focus on debunking the hype and understanding businesses’ real value in a conversation with three domain experts.