Urenio Watch Watch: Innovation ecosystems

Forces of change: Industry 4.0

We’re in the middle of a fourth Industrial Revolution’”and this one goes far beyond manufacturing. Smart, connected technologies are transforming how parts and products are designed, made, used, and maintained. And by ushering in a digital reality, they are transforming organizations themselves. Mark Cotteleer, Brenna Sniderman in Deloitte Insights explore some key insights that can enable business leaders to visualize the ways in which the Fourth Industrial Revolution could affect their worlds.

Executive summary

Industry 4.0 signifies the promise of a new Industrial Revolution’”one that marries advanced production and operations techniques with smart digital technologies to create a digital enterprise that would not only be interconnected and autonomous but could communicate, analyze, and use data to drive further intelligent action back in the physical world. It represents the ways in which smart, connected technology would become embedded within organizations, people, and assets, and is marked by the emergence of capabilities such as robotics, analytics, artificial intelligence and cognitive technologies, nanotechnology, quantum computing, wearables, the Internet of Things, additive manufacturing, and advanced materials.

While its roots are in manufacturing, Industry 4.0 is about more than simply production. Smart, connected technologies can transform how parts and products are designed, made, used, and maintained. They can also transform organizations themselves: how they make sense of information and act upon it to achieve operational excellence and continually improve the consumer/partner experience.

In short, Industry 4.0 is ushering in a digital reality that may alter the rules of production, operations, workforce’”even society.