Industry 4.0 Is Here. Are You Ready?

What is industry 4.0 ?

Industrial revolution is the transition from one technological era to the new. When industrial revolution occurs it has the greater impact how how we live, work and interact with each other. From invention of steam engine to the invention of the Internet, we’ve been through three industrial revolutions.

The First Industrial Revolution used water and steam power to mechanize production. The Second used electric power to create mass production. The Third used electronics and information technology to automate production.

Now a Fourth Industrial Revolution or also called as Industry 4.0 is building on the Third, the digital revolution that has been occurring since the middle of the last century. It is characterized by a fusion of technologies that is blurring the lines between the physical, digital, and biological spheres. Resulting in the Cyber Physical System.

We are at the verge of technological revolution that will surely alter how we live, work and interact with each other. It will also have the greater impact in terms of environment and health of the planet. Next industrial revolution will have an impact on various thing also.

Impact on people.

The Fourth Industrial Revolution, finally, will change not only what we do but also who we are. It will affect our identity and all the issues associated with it.

It will change our relationship with technology as it will be the integrated part of out lives. 

Industry 4.0 will also be the realm for things like IoT. Today billions of people are connected with each other through their mobile devices. Additionally, many companies like Apple and Google have already started creating “Ecosystems” of their product. 

Fourth Industrial revolution will also bring some opportunities. Like the revolutions that preceded it, the Fourth Industrial Revolution has the potential to raise global income levels and improve the quality of life for populations around the world. Things that now categorised as ‘Not For Everyone’, Will be common and accessible to all the people around the world. For e.g. Things like going to space have been limited to only professional astronauts and scientists. With commercialization in space industry pretty soon general population will be able to visit space and have a dinner orbiting the Earth.

With upcoming technologies like 5G, many new ways of interaction and communication will be emerged. It will affect how we develop our careers, cultivate our skills, meet people, and nurture relationships.

Impact on Business

One of the main effects of the Fourth Industrial Revolution is increased human productivity. With technologies like big data analytics, cloud technology, AI and automation augmenting our professional lives, We’ll able to make smart choices, faster than ever before.

More specifically, AI and automation are expected to have the most significant impact on employment figures within the global workforce.

Major shifts on the demand side are also occurring, as growing transparency, consumer engagement, and new patterns of consumer behaviour (increasingly built upon access to mobile networks and data) force companies to adapt the way they design, market, and deliver products and services.

Next industrial revolution will bring automation and AI in almost every sector.  Industry 4.0 will also shade a light on Remote Working. Work from home concept will be adapted by every industry in the world in order to become less physically dependable on the employees. 

Impact on Environment

As we are doing more and more progress it is becoming more and more unbearable for the planet. We are at the verge of the technological revolution but so does the planet in terms of its sustainability and natural perseverance for species. Without realizing the tension on nature we exponentially have risen the population resultantly spewing thousands of tons of greenhouse gas in environment. If we continue to do so within the next century many species will become extinct and planet will be more unstable.

But fortunately if we do it right, industry 4.0 can refrain it from happening.

Next industrial revolution will also increase the production of renewable energy. With becoming more dependable on the technologies like electric vehicles and renewable energy it will reduce the pollution levels and carbon footprints. Industry 4.0 will bring the technologies to remove pollution and carbon from the air, substitutes for non degradable products like plastic.

Advances in computing power, artificial intelligence, robotics, and material science can accelerate the shift toward more environmentally friendly products of all kinds.

Following is the survey about what sectors industry 4.0 will alter the most.

At the end it’s not just a digital transformation, it’s an intelligence transformation.

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