The Fourth Industrial Revolution – Insight Report
Key takeaways from the IoTUK Fourth Industrial Revolution Insight Report
The 4th Industrial Revolution (4IR, aka Industry 4.0) is exactly what the name implies: the fourth wave of technology-fuelled change that will revolutionise industry. Like its predecessors, the technological transformation will also usher in social, economic and cultural change. Unlike its predecessors, it will happen pretty quickly.
4IR has the power to reshape production, consumption, transportation and delivery systems across every industry and service imaginable. The Internet of Things (IoT) is just one facet of this revolution, which will see a confluence of technologies encompassing big data analytics, artificial intelligence (AI), robotics, augmented and virtual reality (AR and VR), blockchain and more, in addition to IoT. It will be underpinned and enabled by cloud computing and a new next-generation (5G) network comprising fixed and wireless technologies, some already available and others still under development, that will power lightning fast communications in real time with unimaginable capacity.
This may all sound terribly complicated and horribly expensive, but 4IR need not be either. Think of 4IR as a long journey with plenty of stop-offs. The ultimate destination is improved competitive advantage through better operational efficiency and lower operational costs. Every manufacturer, as well as those in the manufacturing supply chain, will need to take that journey eventually, and those that start sooner will reap the benefits more quickly. And help is at hand to help you plan the destination, the route and the modes of transport that are the most appropriate for your specific business.
This Insight Report will describe the nuts and bolts of 4IR and what role specific technologies will play, with real-world examples of what 4IR can achieve. It will also provide information and guidance about the help that is available to UK manufacturers to get them started and enable them to achieve their goals, and demonstrate the significant opportunities that exist for UK tech companies to lead the way with innovative new 4IR products and solutions.