Leading Industry 4.0
FountainBlue's April 12 VIP roundtable was on the topic of 'Leading Industry 4.0'. We are grateful to each of our executives in attendance for their insightful comments and advice on how to best lead Industry 4.0. We framed our discussion with definitions, with the support of perplexity.ai:
Industry 1.0 refers to the first industrial revolution, which began in the late 18th century. Industry 1.0 was characterized by the transition from manual, handicraft-based production to mechanized, steam and water-powered manufacturing, which transformed industries and social/economic life.
Industry 2.0, also known as the second industrial revolution, occurred in the late 19th and early 20th century. Industry 2.0 was defined by the widespread adoption of electricity, the rise of mass production techniques, and various other technological advancements that transformed manufacturing and improved overall living standards.
Industry 3.0, also known as the third industrial revolution, began in the 1970s and characterized by the widespread adoption of electronics, IT, and automation technologies in manufacturing, which transformed production processes and improved efficiency, productivity, and working conditions compared to the previous industrial revolutions.
Industry 4.0 refers to the fourth industrial revolution and represents the transformation of manufacturing and industrial operations through the convergence of digital technologies, automation, and data-driven intelligence to create smart, connected, and flexible production systems.
Industry 5.0 represents the fifth industrial revolution, which is characterized by the integration of advanced technologies like artificial intelligence, nanotechnology, and biotechnology to create a more human-centric, sustainable, and resilient industrial ecosystem.
While there is no clear definition of Industry 6.0, the search results suggest it may involve further integration of emerging technologies like AI, automation, and data science, with a greater emphasis on sustainability, societal impact, and collaborative human-machine interaction.
Leading companies in the space are continuing to navigate the connectivity challenge with 5G and advanced networking innovations, and address the cybersecurity and energy generation and management challenges inherent in leading Industry 4.0.
But the theme of this month's roundtable are the stories of how organizations are building real-world use cases, leveraging Industry 4.0, including solutions below:
going beyond IT and software-only solutions to OT solutions where data collected by physical sensors are included
AI solutions which enable industrial automation on the manufacturing floor and far beyond
multi-modal solutions which integrate not just text, audio and video, but also data collected by sensors
designing predictive analytics solutions which automate the management of smart buildings, manufacturing floors, etc.,
creating solutions which leverage natural language programming, which might, for example help users more easily program robots for autonomous execution within prescribed behavior rules
Below is a compilation of advice for companies leading Industry 4.0:
Consider partnering with corporate venture as go-to-market partners, as funders, as customers.
Create smarter, more intelligent solutions which don't just automatically perform a function, but also responds to specific scenarios when the function can't be performed as defined.
Raise the bar, looking not just for the data/the report, but also ask for analysis, recommendations, predictions, and even automate actions, within specific parameters of course.
Your company doesn't necessarily have to directly lead Industry 4.0 to benefit from its expansion. Your company could offer products and services which enable Industry 4.0.
Design solutions which protect the people, protect the data, protect the equipment.
Extend your perception of Industry 4.0 far beyond the manufacturing floor, exploring how digital technologies, automation, and data-driven intelligence can create smart, connected, and flexible production systems which can help your organization be more efficient and effective.
Below is a summary of some opportunities ahead:
cognitive robotics which create intelligent, adaptable robots that can perceive, learn, reason, and interact with the world in more human-like ways
advanced, complex packaging integrating 15-20+ interconnected chips will enable much more functionality
humanoid robots capable of natural human-robot interaction and collaboration
additive manufacturing (3D printing) solutions which makes it easier to customize materials and create new structures and forms with fewer tools and less waste, which supports the flexible and customized production of Industry 4.0.
We ended this fascinating discussion with a challenging question: If Industry 5.0 represents a new vision for industry that goes beyond efficiency and productivity, and prioritizes human well-being, sustainability, and the creation of societal value, how can advanced technologies enable this vision?