Industry 4.0 is impacting companies at many different levels. New technology, robots and communications are taking manufacturing through a full restructuring process. Today, many of the promises that Industry 4.0 – also referred to as the industrial internet – may still sound unrealistic and distant. Executives and business consultants talk about its potential as something that is about to happen. But has it really started? Indeed, Industry 4.0 is no longer the future. Some organizations are already transforming their processes to adapt to the new digital reality that the industrial internet is bringing with it. The process may not always be painless but it offers countless benefits that make it worthwhile. This technical note provides a compilation of leading-edge initiatives that may show us the path forward. Learning objective: To understand how Industry 4.0 is transforming organizations. The note identifies four main drivers of what is also called the fourth industrial revolution (Internet of Things, Artificial Intelligence, Robotics and 3D printing) and uses real examples of business-to –business companies to illustrate what is already happening.
Reference
IMD-7-1784
Keywords
Digital Revolution; Robotics; 3D Printing; Artificial Intelligence; Business to Business; Industrial Internet; Industry 4.0
Settings
Global; Business Services Industry
Type
Industry Note (Published Sources)
Length
18 pages
Copyright
©2016
Language
English