Identify Your Perfect Starting Point for Your Industry 4.0 Journey
The Fourth Industrial Revolution or Industry 4.0, as we know it, is an amalgamation of the real and virtual worlds that advances the scope of automation, interconnectivity, and analytics. In short, this new paradigm is fueled by connected devices and data.
What started out as a way to mechanize production in the 18th century has now evolved into a network of complex and adaptive machines capable of handling virtually any request, every minute of the day.
And with technologies like IoT, AI, ML, RPA, AR, VR, and 3D printing powering this growth, the possibilities are endless. Projections estimate that Industry 4.0 will quadruple ($334.18 Billion) in the next seven years, resulting in the exponential growth of the global value of industries that will be influenced.
Industry 4.0 - Opportunities Galore
The aforementioned growth serves as a major impetus for companies to expand their operations, invest in the latest technologies, and increase revenue. But, with this change comes the pressure of handling tremendous amounts of data from diverse sources and a host of new variables to consider.
These factors, along with the fact that much of the existing industry infrastructure has not been designed for this transformation, make it challenging for manufacturers to effectively leverage the full spectrum of opportunities.
This is a critical issue because the road to success has never been more complex or unpredictable. In fact, the stakes are so high that making vague decisions can put your operation at a competitive disadvantage or even irreparably harm your brand.
Hence, the central question to the advent of Industry 4.0 is no longer 'Will you adopt it?', but rather, 'How will you make the shift?'
After all, the key is to truly understand where you fit in the grand scheme of things, where you are in the value chain, and what is your position in the new system of systems.
Understanding the Characteristics of Growth - The Starting Point
A succinct description and comprehension of the key Industry 4.0 components (Connectivity, Analytics, Human-machine Interaction, and Advanced Engineering) and the enabling technologies are key to effectively defining and implementing your strategy.
As a matter of fact, tapping into these four areas and coupling them with the pillars of digital transformation (Transparency, Agility, Speed, Automation, and Collaboration) provides an excellent starting point for your journey.
What Does Each Component Entail?
- Connectivity calls for the interconnectivity of sensors, equipment, devices, actuators, and control systems to create an always-on Internet of Things (IoT) environment. These are supplemented by cloud-based systems and algorithms to expedite easy connectivity and data exchange.
- Analytics corresponds to analyzing data in real-time as well as non-real-time, extracting valuable insights that enable better business decision making. Powered by AI and ML, it hands you the ability to forecast and identify areas for growth, saving you both time and money.
- Human-machine interaction remains at the forefront with the emergence of technologies, such as AR and VR, enabling a more consumer-focused experience centers and making it much easier to collaborate across verticals and on a holistic level.
- Advanced engineering centers on the design of machines that can quickly self-adapt, use sensing techniques to improve performance, and produce environment-conscious/sustainable products. A host of subjects and tools, such as cognitive computing, rapid prototyping, and 3D printing, are included to make complex designs a reality.
Ask Yourself These Questions
Before embarking on your journey, ask yourself these ten key questions to better place yourself with the proper perspective:
- What are the requirements for Industry 4.0 readiness?
- What are the new capabilities required to successfully navigate this environment?
- How much time will it take to implement a comprehensive plan?
- How will you finance this initiative?
- How will it influence your R&D operation and innovation strategy?
- What are the key areas that need to be upgraded or developed?
- Who will be responsible for spearheading the changes?
- What can you do to stay relevant as technology and the landscape change? What skills need to be enhanced, so they're continuously updated?
- How do you stay abreast of new technologies and research initiatives?
- How will you plan for the future?
Delpheon as Your Trusted Industry 4.0 Partner
Going through these questions and the previously mentioned components makes it crystal clear that Industry 4.0 is a huge undertaking and could potentially overwhelm even the most established manufacturers. But at the same time, the fact remains that successfully adapting your business model to this new industrial revolution represents the next wave of innovation.
Given the complexity of the transformation and its impact on business, aligning your organization with a partner that can lead you through this journey is vital. More profoundly, a partner should be able to:
- Guide you through this vast landscape of technological changes and help you seamlessly integrate all the elements in order to achieve your goals.
- Help you navigate the new business systems, analytical tools, and collaborative technology so that you don't fall into the trap of a slow-moving, reactive unappealing experience.
- Help you leverage the potential of Industry 4.0 right off the bat so that your journey is smoother, economical, efficient, impactful, and secure.
And that's where Delpheon comes in. With our specialization in automation, IoT engineering, IIoT, data analytics, machine vision, and much more, we help you tap into and utilize your existing hardware assets to optimize processes, improve accuracy, and drive value.
Get in touch with us today. Let's start building a better tomorrow together!