PEX Talks | Industry 4.0: Is it all hype?

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Written By Jeff Winter

Since 2015, when the term was first popularized, proponents of Industry 4.0 have proclaimed that the computerization of manufacturing would be just as significant, if not more so, than the introduction of the steam engine.

In the years since, however, questions have emerged as to whether Industry 4.0 is quite as revolutionary as once thought. Experts agree that digital technologies such as the Internet of Things (IoT), robotics, digital twins, predictive analytics and augmented reality have the potential to dramatically increase efficiency, effectiveness, quality and safety. Yet many manufacturers have been slow to adopt these cutting-edge solutions.

In an era defined by slim margins, building a business case for these technologies has proven to be difficult for some. In addition, a lack of IT and data infrastructure have stood in the way of successful implementation.

The second conversation in our PEX Talks series, this 30-minute discussion explored:

  • How the concept of Industry 4.0 has evolved

  • Hype vs. reality

  • What separates the haves and have-nots

  • For those that are falling behind, how can they catch up? What steps do they need to take

Since 2015, when the term was first popularized, proponents of Industry 4.0 have proclaimed that the computerization of manufacturing would be just as significant, if not more so, than the introduction of the steam engine.

In the years since, however, questions have emerged as to whether Industry 4.0 is quite as revolutionary as once thought. Experts agree that digital technologies such as the Internet of Things (IoT), robotics, digital twins, predictive analytics and augmented reality have the potential to dramatically increase efficiency, effectiveness, quality and safety. Yet many manufacturers have been slow to adopt these cutting-edge solutions.

In an era defined by slim margins, building a business case for these technologies has proven to be difficult for some. In addition, a lack of IT and data infrastructure has stood in the way of successful implementation.

The second conversation in our PEX Talks series, this 30-minute discussion explored:

  • How the concept of Industry 4.0 has evolved

  • Hype vs. reality

  • What separates the haves and have-nots

  • For those that are falling behind, how can they catch up? What steps do they need to take

Questions Jeff answers in this episode:

  1. How would you define Industry 4.0 and Industry 5.0?

  2. What are some of the major capabilities and technologies associated with Industry 4.0?

  3. What percentage of organizations have adopted these technologies?

  4. What are some of the most innovative initiatives you’ve seen? What types of results are they seeing?

  5. In terms of those who have yet to adopt, what is holding companies back?

  6. We’ve talked about the benefits but what are some of the risks and downfalls of these technologies?

  7. What steps do manufacturers need to take to avoid these outcomes?

  8. What about the human factor? How will Industry 4.0 impact workers at all levels?

  9. What about smaller manufacturers who may not have a limited budget, scale or IT infrastructure? How should they approach industry 4.0 technologies?

  10. What would you say is the biggest misconception people have about Industry 4.0 and can you set the record straight?

Link to PEX Network’s original podcast page

Sources Referenced:

Jeff Winter
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