Throughout the previous century, the way business functions have changed. Since its early days, industrialization evolved to be less human intervening. From industry 1.0, where industries replaced agriculture as the primary source of income, to Web 3.0, where we intended to automate business operations.
We are now witnessing the fourth industrial revolution, Industry 4.0. Its primary drivers are increasing automation, artificial intelligence, and data processing technologies. In this age, machines collect and process data to achieve information transparency and make error-free decisions.
In other words, it is revolutionizing the way businesses function. Let us look at some of the constituent technologies that power Industry 4.0.
1. Internet of things: –
It is one of the technologies that make the concept of smart industries possible. It allows all internet-enabled machines on the factory floor to function in coordination. Apparently, they use the web to communicate information.
The IOT allows businesses to automate manufacturing and enhance operating efficiency.
2. Cloud Computing: –
Cloud computing work as connecting unit for various departments. Take manufacturing, for instance. It requires the integration of engineering, supply chain, production, procurement, and distribution to automate the process. Cloud computing makes it possible. In addition, it works as storage for a large amount of business data. Consequently, making it easier to process and analyze.
Infrastructure as a service (IaaS) is another significant cloud computing application. It is a service type that makes the cloud infrastructure available to businesses. Consequently, it is a remarkable way for organizations to cut expenses and scale as they grow.
3. AI and Machine learning: –
Artificial intelligence is the crux of Industry 4.0. It enables manufacturers to collect stakes of data from various sources. Subsequently, AI processes data to make data-driven decisions.
AI is doing wonders for businesses by providing visibility and automation opportunities in their business operations and processes. Consequently, organizations are becoming more automated and accurate in their business processes.
Prediction is another significant feature of machine learning. Collected data can help businesses pre-identify their customers’ behavioral change and alter their business processes to go with it.
4. Cybersecurity: –
Every good thing comes at a price, and so does Industry 4.0. The connected network of several devices creates vulnerabilities for attackers to target. It is one of the reasons behind the sudden upsurge of cybercrimes since the introduction of Industry 4.0. Consequently, with the increase in cybercrime, security has become one of the major concerns for businesses.
Cybersecurity helps businesses identify potential web vulnerabilities and eradicate them to safeguard business data from potential theft.
5. Edge Computing: –
One can’t rely on the hordes of data for every single business decision. Sometimes we need to process data and take actions on the edge. It obliterates the need to send data to a central processing unit and wait for it to respond. Instead, with edge computing machines are integrated with their own processing units allowing them to make decisions on the edge.
Edge computing enables businesses to fasten their operations.
How is industry 4.0 evolving business processes?
The future is here with industry 4.0. It helps businesses transform operations and enhance their business processes. There are several ways it is transforming businesses processes, some of them are as follows:
Making them more efficient: –
With progressive maintenance, businesses can predict the probability of machine malfunction that may put a temporary impediment to production. Subsequently, organizations can better maintain their machinery and become more and more efficient.
Making them more productive: –
Industry 4.0 has allowed businesses to automate business processes. Additionally, advanced computing technologies facilitate faster analysis and procession of data. In other words, it enables organizations to procure more, manufacture more, and deliver more in less time.
Making them more flexible: –
The collection and analysis of data make it easier for businesses to estimate product demands. Subsequently, they can scale up or down production and maintain an adequate supply.
Keep track of the supply chain: –
With Industry 4.0 businesses can easily identify flows and malfunctions in their supply chain. Consequently, it allows businesses to eradicate them and prevent cognitive production stoppage.
Conclusion: –
Industry 4.0 Proposes tremendous potential for transforming business manufacturing, operations, Product supply, quality, and customization. Consequently, it is been adopted rapidly by different business industries worldwide. It enables businesses to collect a vast amount of data from different sources and make effective decisions.
Industry 4.0 emphasize mainly on complete automation of business processes. It is the first brick to a future where machines can learn, process, coordinate and function without any human intervention.
