Industry 4.0: Marketing Buzzword or Looming Revolution?
Updated: Oct 8, 2019
On the 21st of February, Donald Trump used Twitter to appeal to U.S. technology companies to hasten the roll-out of 5G.
"I want 5G, and even 6G, technology in the United States as soon as possible... American companies must step up their efforts, or get left behind."
Trump, therefore, became one of the world’s foremost proponents of 5G. This being a new standard of high-speed mobile telecommunications, scheduled to be implemented worldwide by 2020. As for why 5G is such a hot topic at present, the reason is simple. 5G promises to give rise to the long-awaited Internet of Things, and with it, Industry 4.0.
What is Industry 4.0?
The world as we know it has experienced three significant industrial revolutions. First industry became mechanized. During the second industrial revolution, mass production became possible. More recently, the digital era has given rise to automation, instant global communications, and the information age as we know it.
Industry 4.0 promises to be the world’s fourth industrial revolution. However, Industry 4.0 isn’t just about 5G. Industry 4.0 will be an industrial revolution made possible by 5G, artificial intelligence, big data, and a new generation of smart technology.
Industry 4.0 is Already Here
Over the course of the next three years, 5G and the Internet of Things will bring Industry 4.0 to the forefront of modern industry and commerce. However, Industry 4.0 innovations are already manifesting in a variety of business and industry sectors.
AT&T already has 18.5 million smart appliances and machines connected to the Internet of Things
AI, smart robotics, and IOT connected smart sensors, are already increasing automation and productivity in manufacturing
By 2020, practical Industry 4.0 applications are predicted to surpass $4 trillion in value
Industry 4.0 & Future Job Creation
In the UK, government assessments have predicted that Industry 4.0 will create 175,000 new manufacturing jobs and boost the manufacturing industry by £445 billion. However, Industry 4.0 promises to create jobs and add value across several industry sectors.
Sectors wherein Industry 4.0 stands to create the most jobs include blockchain technology development, big data management, autonomous vehicle production, and renewable energy. Moreover, as Donald Trump has acknowledged, it will be businesses which embrace Industry 4.0 early, which will stand to reap the most significant rewards.