About Lesson
A.5. Fourth Industrial Revolution (Industry 4.0): Present
A fourth industrial revolution, known as Industry 4.0, which is based on a recent technological development called digitalization, is set to take place in the world due to tremendous advancements in the sectors of hardware and information technology.
- While Industry 3.0 focuses on the automation of single machines and processes, Industry 4.0 concentrates on the end-to-end digitization of all physical assets and their integration into digital ecosystems with value chain partners.
- Driven by the power of big data, high computing capacity, artificial intelligence, and analytics, Industry 4.0 aims to completely digitize the manufacturing sector.
- Industry 4.0 is the next phase in bringing together conventional and modern technologies in manufacturing to create “smart factories”.