Hailed as the 4th Industrial Revolution, and even the next dotcom boom, there are high hopes for Industry 4.0, as delegates to the Industry 4.0 Summit in Manchester this week, found out.
It was clear that a long term vision for both industry and business is needed for the successful integration of Industry 4.0 strategies and for the UK to keep pace with Europe and the US. However, a clear theme from the event was the need for partnerships and for SMEs to implement small amounts of technology to help boost productivity. With estimates suggesting that only 48% of manufacturers think they are ready for Industry 4.0. small steps seemed to be the advice.
Speaking at the event, Lord Prior of Brampton, parliamentary under secretary of state for business, energy and industry strategy, advised: If a company’s management does not take a longer term strategic view – even if that means sacrificing short term results and difficult meetings in the meantime – then they simply won’t be here in 10 years’ time.
Industry 4.0 will see industry and manufacturing moving towards increased automation and integrated control systems, creating smart factories. According to Accenture, “the cloud enables new levels of scalability, flexibility and responsiveness. Analytics and big data allow insights to be derived in real time from massive volumes of data.”
