Areas of planned investment include machine learning and artificial intelligence , creating even richer insight and better real-time decision making .
Where do you see the concept of Industry 4.0 and smart factories heading over the coming years ? Various technologies will combine to create a multiplier effect . Nano technology , 3D printing , cloud connected automated factories will lead to lower costs , increased efficiency , but intense global competition . Less need for traditional manufacturing equipment and scale , replaced by new tech , will bring geographic democratisation , as barriers to entry are lowered , new entrants will enter the market and drive further innovation .
Economies of scale and physically connected supply chains will become less important , as customisation will become more cost effective , leading to less need for uniformity and standard products based on minimum unit costs . It will ultimately be possible to produce customised finished product in units of one , for a similar unit cost to large quantities of standard product .
Self-healing factories will see components able to proactively fix themselves , before a problem arises with continuous production the norm . It will be driven through automation and AI with even less need for human intervention in all but the most strategic tasks .
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