Industry 4.0 can be defined as the 4th revolution in the Industrial world which uses New-age Technological Innovations to revolutionize the way the Manufacturing Industry operates.
In recent years, Industry 4.0 has evolved rapidly from a distant, far-fetched concept to something companies now believe is real and tangible. Industry 4.0 is a collective term used for the new-age technologies that are significantly altering the Industrial manufacturing landscape. These game-changing technologies include 3D printing, sensors, advanced robots, Internet of Thing (IoT), augmented reality, Cloud Computing, Artificial Intelligence (AI) & Big Data.
Although The major challenges in adopting & integrating these technologies include availability and access to relevant talent, for example, data scientists, a strong supplier and technology provider ecosystem, training the existing workforce, and change management in the organization. For micro, small and medium-sized enterprises (MSMEs), even getting access to these technologies, understanding them, and the ability to identify the business use for these new-age technologies cases remains a greater challenge. Governments of several countries are already driving efforts to integrate the use of new-age technologies. Europe For instance, in Germany, the government has allocated a specific budget to research and development and is establishing new bodies/partnerships/MOUs to support the digital economy. Also, China’s 13th Five-Year Plan puts focus on the Internet of Things (IoT) and Big Data among other elements of Industry 4.0. Big data pilot zones are being set up and significant financial support is being provided for companies specializing in Robotics. The government of Singapore with various policies & incentives is encouraging both established suppliers, companies and startups to increase their presence and anchor their most advanced technologies in Singapore so that local & small companies have access to what the worlds best has to offer.
Talking about India, many Indian companies have started plans to adopt & Integrate Industry 4.0 in their daily operations. A recent BCG-CII survey showed that almost 60% of the surveyed companies have started deploying data analytics in some ways and another 20-40% are experimenting with autonomous robots and additive manufacturing. More than 75% of the companies suggested that they will be trying to integrate at least three or more of these technologies over the next five years.
The level of adoption of these new age technologies varies, and hence their applicability across industries in India is different what is in other developed as well as developing countries. Still, there is no doubt that these technologies can substantially decrease costs, increase productivity, quality, flexibility and employee satisfaction. The government & key industry bodies controlling them in India, ought to take the lead to drive the Industry 4.0 agenda on a priority basis. Investments in developing the skills and capability, upgrading the infrastructure, and to support research and development, as well as enabling investments from various third-party institutions for developing the technological infrastructure. Partnerships between the government, industry associations, universities and technology suppliers are a must for developing this exciting & futuristic infrastructure.
Automation India Expo is another opportunity to get a head-start in Industry 4.0.
It is a perfect place where the Manufacturing Innovators from all over the world showcase their Industrial Innovations!
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