Industry 4.0

3 min

Industry 4.0 is a new approach to the production process, which is based on the mass integration of information technology into industry, which provides automation of production and business processes, as well as allows the use of artificial intelligence. The fourth industrial revolution was a logical stage caused by the technical progress of the modern world.

What Are the Benefits of Industry 4.0?

Among the benefits provided by Industry 4.0 are the following:

• increase productivity through the ability to identify and correct vulnerabilities in production processes;
• improving the safety of employees through quality and timely planned preventive maintenance of equipment and reducing work tasks in harmful and dangerous conditions;
• reducing the likelihood of the human factor;
• increasing competitiveness;
• reducing the cost of production due to a clear calculation of the required amount of raw materials and their efficient use;
• the ability to create fundamentally new products, etc.

What Technologies Are Typical for Industry 4.0?

Today, the typical technologies of Industry 4.0 are the following:

1. Machine Computing and Automation – collect and group massive blocks of data for further processing, making it easier for businesses to develop, do equipment condition monitoring and make decisions.
2. Renewable energy – allows solving the problem of limited resources.
3. Biotechnology – used in particular in the field of pharmaceuticals and biomaterials related to production segments.
4. Robotics – allows to reduce the need for human resources, better perform production processes and ensure faster business development.
5. Artificial intelligence – helps to improve business processes and identify possible risks, to do equipment downtime classification.
6. Blockchain – helps to get rid of intermediaries and achieve unconditional trust, and transparency in relations between the state, business, and the client.
7. Internet of Things (IoT) – has the form of a cloud system, within which physical modules, devices, gadgets “communicate”. It gives the ability to remotely monitor cargo, logistics, enterprises, employee records, etc.
8. 3D-printing – provides the creation of the necessary tools, parts, and products, making optimal use of resources.

Enterprise asset management, together with Industry 4.0 technology, takes it to a whole new level, helping the company to be modern, competitive, keep up with the times, and better prepared for the technologies of the next industrial revolution.