The Fourth Industrial Revolution is Almost Here

The Fourth Industrial Revolution is Almost Here

Digital technology is set to completely reshape manufacturing over the next five years. While digital technology seems to be causing some distress in the manufacturing sector it appears overall companies are embracing the concept rather than fearing it. This positive step in the direction of innovation means there are endless potentials in relation to what the manufacturing industry will soon be achieving.

Traditionally the manufacturing process consists of three parties: the psychical manufacture, the suppliers and the service providers. Generally speaking, these groups are often unconnected which can lead to inefficiency in the supply chain and in turn lead to lost opportunities. The IoT (internet of things) is expected to decrease this efficiency by bringing the new wave of manufacturing, or the fourth industrial revolution to life. Alongside this IoT is believed to essentially refurbish the entire manufacturing supply chain and bring with it digital production systems.

The manufacturing sector remains one of the main investors in computer and related services and this is only expected to drive forwards in upcoming years. In recent years, developed countries have witnessed a notable shift towards innovation in communication technologies which are seen as a primary future driver of modern economics. This falls evident in relation to spheres such as IoT, cloud computing and 5G internet, which are all poised to become the major technologies driving the industrial 4.0 shift.

Cloud Computing envelopes the overall essence of the new wave development, using networks of remote servers hosted on the internet to store, manage and process data rather than this being done by a local server or personal computer.

There are remaining issues with the revolution, such as how cloud computing and other technologies will implement across manufacturing operations and what will happen to those who do not take advantage of the developments. The lack of understanding from certain companies is causing worry that the industry isn’t quite ready for the technological advancements that are in the here and now. It is thought the fourth industrial revolution will have kick started in manufacturing society in around five years’ time with major work taking place to aid this beforehand giving companies a fair amount of time to learn the concepts of this new and advanced working world.

Developed countries investing in research and development should be at the forefront of the industrial revolution and in turn gain the most benefit from its place in society due to their work in enforcing data protection laws, developing internet infrastructure and aiding a tech-savvy population to come forth.

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