IoT, AI and robotics technology
In this post, we have gathered the latest research on the use cases and initiatives connected to the fourth industrial revolution – Industry 4.0.
Studies point that the fourth industrial revolution can create up to 3.7 trillion in value by 2025. With the advancement of digital technologies; countries and companies can transform their operations. In one study, McKinsey Global estimated that 60% of all manufacturing activities can be automated. With the advancement of latest development in IoT, AI and robotics technology, the production of the future will be characterized by autonomous and self-organizing factories.
Today, most companies is performing different pilot studies but in order to maximize the potential gains of Industry 4.0, companies need to adopt technology at scale and transform their business models. To grasp the full benefits, collaboration needs to take form in eco systems where governments develop the right set of policies and protocols. The public and private sector should create partnership to tackle the impacts of adopting new technologies.
From Pilot to deployment
McKinsey & Company, a global consultancy firm states that only 29% of industrial companies have started to roll out new technological solution across their production processes. Many companies is still piloting solutions and experts is concerned of the slow pace of adoptions. The companies are struggling to make the transition from pilot to large-scale deployments. The top three reasons are:
5 Use cases:
In the section below, a graphical summary is showing the use-cases and recommendations.