Currently the term “Industry 4.0” or the “Industrial Revolution 4.0” is circulating with immense force. But what does it mean? What is technology capable of transforming?
The term refers to the fourth industrial revolution. This change was preceded by previous transformations. The first revolution came with the invention of the steam engine, the second with the adoption of new economic models that introduced mass production, and the third revolution introduced the digital era and the automation of manufacture processes. In this fourth revolution, the form of production will also be transformed but at levels never reached before.
Industry 4.0 will completely transform the way a company operates. Previously, each process was “managed”, in that it was undertaken in consultation with a manager who oversaw the projects. The manager coordinated, resourced and monitored the steps of the process.
Industry 4.0 consist of applying high-end technology in each business process. Computers, data and algorithms read, interpret and execute the processes of management. A transparent and perfectly orchestrated outcome is managed virtually. Say goodbye to management as we know it.
The communication becomes constant and fluid; saving enormous amounts of time. Because of the dramatic saving of time and removal of human error, the final product and the whole process reaches new levels of extreme effectiveness.
By dispensing with labour, since most of the processes will be done by machines, the final product will be much cheaper. The concept of work changes radically. Many jobs will become obsolete with some new jobs being created. Supervisors become completely systematized. The relationship between man and machinery is transformative.
This not only radically changes the rules of the game in commerce, but it also reaches all areas of the system in which we live. Boundaries will no longer be barriers. Industries will transform the way we see the world. Change is imminent and it’s closer than we think.