I4.0 marks the next phase of intelligence where mass data; connectivity of devices; machine learning; and Artificial Intelligence combine to deliver dramatic efficiencies to key industries.
I4.0 builds upon the progress of the 3rd Industrial revolution and is a response to the challenges that organisations still face today as quantified by IBM:
- 1h downtime in production is estimated to cost $100k.
- Product detects cost up to 30% of annual revenues.
- 65% of procurement leaders lack visibility across the supply chain.
Industry 4.0 has evolved to address these challenges and more – but the notion that industry 4.0 is something that just ‘happens’ is false. I4.0 currently, and for sometime, relies upon humans building the foundations of I4.0.