FACTORY OF THE FUTURE
The industrial revolutions of the past were rapid , but the one we are experiencing today is even faster .
“ During the 4th industrial revolution , pioneers and industry leaders have deployed technologies such as IIOT at scale to gain competitive advantage ,” says Ajithkumar Nandakumar , Vice President of Global Strategic Delivery Initiatives , IoT Practice at Hitachi Digital Services .
“ They have realised benefits such as increased throughput , reduced downtime , greater energy efficiency , more responsive supply chains and safer operations .”
Continuous innovation is the name of the game with Industry 4.0 , introducing a menagerie of innovations that are boosting productivity , efficiency and competitiveness .
But it is just the start . Another , even bigger , technological revolution is fast approaching .
“ Today , we are at the cusp of the 5th industrial revolution that is ushering the cognitive era into manufacturing ,” Ajithkumar says .
“ As a result , manufacturers who have invested in IIoT will have the edge to harness the data and insights to create new revenue streams and innovative business models .
“ They will further embed intelligence into their products and look to increase the lifetime value of their customers .”
Core to the 5th industrial revolution is what has been termed the ‘ Industrial metaverse ’, where immersive
70 October 2024