The industrial world has undergone four revolutions.

The first when the wheel was invented, the second when electricity was discovered and the third when computer technology was incorporated and now is an era of bringing intellectual data, which has been available for quite some time, to machines to analyse, exchange and monitor so as to bring new concepts, methods and improved productivity for the company. This is the ongoing 4.0 Industrial revolution.

Machines have already been computerized and large data environment is already available. Allowing each physical product to have a sensor allows connectivity of all kind of things through internet/wireless (Internet of Things) giving them an identity and a life cycle in manufacturing. A customer integrated engineering is now in a process which gives new dimensions to production, designing, implementing and will give a large impact to the entire industrial workforce.

The changes are already taking place in the industrial world in a big way. There is no way around it. In this competitive world, there is no choice but to acquire and implement it to ensure sustainability or else perish.

Benefits & Challenges

The industry has to be on a continuous process of renovation. Analysis of data at each stage will predict maintenance instead of scheduling it after a breakdown. This will bring down costs and prevent large maintenance shutdowns. There is tremendous scope for lower and greener fuel consumption. Production will be faster, quality will be better and the cost will be lower. One of the biggest advantages would be the ability to customize the product to consumer demand without making changes in the bulk production or bringing about vast changes in the method of production or in the machinery.

Any embarkation of a change comes with its challenges and resistance. Since labour work will be replaced by machines/computers there will definitely be a loss of jobs, particularly at a lower level. At the same time, many more jobs as engineers, software programmers, analysts etc are going to be generated. Demand for skilled, qualified labour is going to increase. There will be more scope for creativity at each level giving rise to improved and new products and services.

Industry 4.0 is at the crux of a kickoff propelling a total change in the industrial world giving rise to more and smarter industries in the coming times.