What
Does it Mean?
Commonly referred to as the fourth industrial revolution, Industry
4.0 is the name given to the current wave of automation and data driven
approach to manufacturing technologies.
It leverages state-of-the-art technologies to innovate products and
services in the fields ranging from design, engineering, manufacturing and
support, thereby positively impacting operational efficiencies and
enterprise-wide growth[1].
Industry 4.0 encompasses cyber-physical systems, the IoT, cloud
computing, and cognitive computing.
The digitization of manufacturing has
resulted in a compelling change in the way products are manufactured. Industry
4.0 revolution will enhance Industry 3.0 by providing it with smart
and autonomous systems, fueled by data and machine learning. It will make it possible to gather and
analyze data across machines to make them faster, more flexible and efficient
and, thereby, produce superior products at reduced costs. This will further result in increased
productivity, fostering industrial growth, and modify the profile of the
workforce, thereby, improving the competitiveness of companies and regions.
Why it Matters?
From current data available, only thirteen percent of businesses
have been able to fully capitalize on their digital investments, to achieve
cost savings and create growth. The optimal exploitation of this mix of
technologies could save large companies up to Rupees 124.8 crores!!
During Industry 3.0, when computers were introduced, they
created a disruption in the way work was done, thanks to the addition of an
entirely new technology[2]. Now, as Industry 4.0
unfolds, computers are connected and communicate with one another to speed-up decision-making
without human intervention, thereby making the smart factory a reality. This will result in factories becoming more
efficient and productive and less wasteful, and this is what will define the
true power of Industry 4.0.
Industry 4.0
Technologies and Applications Today[3]
While the jury is still out on how Industry 4.0 could impact
business, several companies have begun implementing changes for a future where
smart machines would become an integral part of all business activity. Some of
the possible applications are discussed below:
Ø
Identify Opportunities - Given the fact that connected machines collect a humongous
volume of data that could be collated, analyzed, and critically scrutinized
faster and more efficiently than would ever be possible by human effort.
Industry 4.0 offers the opportunity for manufacturers to optimize operations
quickly and efficiently and focus on matters that need attention. A typical example of this is the case of an
African gold mine, which identified problems with the oxygen levels during
leaching. After resolving the issue,
yield increased by 3.7%,
saving them Rupees 1,560 million annually.
Ø
Optimize Logistics and Supply Chains - Connected supply chains can quickly adjust
and accommodate their operations to new information. For example, if shipments are delayed due to
bad weather, connected systems could proactively adjust to modify manufacturing
priorities.
Ø
Autonomous Equipment and Vehicles - A host of applications and use cases can
be developed for autonomous operations of critical equipment and vehicles. For example, shipping yards employing
Industry 4.0 can leverage their autonomous cranes and trucks to streamline
operations as they accept shipping containers from the ships.
Ø
Robots - Advancements in
science and technology have made use of robots more affordable to organizations
of every size. Robots are employed for a
range of activities, from picking products at a warehouse to getting them ready
to ship, thereby providing quick and safe support to manufacturers.
Ø
Additive Manufacturing (3D printing)[4] - 3D printing is now being used in
innovative ways and fields ranging from manufacturing industrial parts, to
human body parts. These advances have
opened up a lot of possibilities for production.
Ø
Internet of Things and the Cloud - The IoT forms a key component of Industry
4.0. Uses are not limited to just
assistance in internal operations. The
cloud environment can be exploited to optimize equipment and operations and to
allow smaller enterprises access to technology they wouldn’t be able to on
their own.
Ø
Simulation[5] - Simulations of plant operations would be done
extensively to mirror the physical world in a virtual model involving machines,
products and humans. Such simulations would allow manufacturers to optimize
machine settings to meet future product demand, well before physical
changeover, thereby cutting-down machine setup times and increasing quality.
Ø
Cybersecurity - With
increased machine connectivity and employment of standard communication
protocols defined by Industry 4.0 comes the need to protect critical systems
and manufacturing infrastructure from ever-increasing cyber-threats. This mandates the setting up of secure and
reliable communication systems as well as sophisticated identity and access
management processes for machines and users.
Crystal-ball Gazing
The traditional
value chain is rapidly moving towards hyper-personalized experiences, products, and services that are increasingly resulting in
newer sources of revenue. Companies
would have to develop and implement customized digital manufacturing strategies
to sustain a lead in future operations involving innovating business models and
new technologies.
Author Bio
Ashwin
Patil is a passionate content marketer who writes on technology, tech trends,
tech reviews. Also, I work with people, organizations and the community to
deliver solutions which are driven by Big Data, Internet of Things, Machine
Learning, Deep Learning & Artificial Intelligence.
