Industry 4.0 Q&A
Can Industry 4.0 have the potential to transform the manufacturing industry? Read the Manufacturing Global feature on the Industry 4.0 Q&A from Terri Hiskey, Vice President, Manufacturing Portfolio Marketing at Epicor.
1. Why all the hype surrounding Industry 4.0 today? Why does Industry 4.0 have the potential to transform the manufacturing landscape?
The majority of manufacturers agree that what is being referred to as the Fourth Industrial Revolution will have a big impact on the sector. A lot of positive hype has built up around Industry 4.0 over the last few years, creating awareness of the topic within many manufacturing companies and contributing significantly to the rejuvenation of a positive outlook for the future growth. Currently, a host of connected technologies are advancing rapidly, including high-quality sensors, more reliable and powerful networks, high-performance computing (HPC), robotics, artificial intelligence and cognitive technologies, and augmented reality. These connected technologies along with 3D printing, cloud computing, mobile devices and Big Data will change how products are designed, produced and impact how data is gathered, stored and analyzed. Taken together, these technologies will have a profound impact that can change manufacturing in unprecedented ways.
2. What is the biggest myth or misperception about Industry 4.0?
One of the biggest misconceptions about Industry 4.0, the networked economy, and the Internet of Things (IoT) is that they are all one in the same. The networked economy is the dynamics of real time connectivity between people, devices, and businesses. The IoT is the technological foundation or plumbing of this economy, connecting physical devices, people, and businesses to one another through the Internet. Industry 4.0 is the materialization or outcome of how the networked economy and the IoT manifests themselves within the manufacturing industry, specifically.