What is the fourth industrial revolution? Is it happening now?

4th October 2019
Author: Ryan Wimalasena (Guest Blogger)

“There has never been a time of greater promise, or greater peril.” – Klaus Schwab

I’m in agreement with Industry experts that the Fourth Industrial Revolution is going to change the world, similar to that of the Third, Second and First industrial Revolutions. The only difference is that this one is going to happen quicker. The Fourth Industrial Revolution will question what we value as humans, shocker I know!

There will be radical shifts in innovation, the ease of access to technology will spread like a fiery flame in a forest, leaving those who are unable to extinguish the flames burned to the core and unable to function. Almost every single industry will be transformed by this radical revolution.

The previous industrial revolutions were derived from separate technological innovations that ultimately increased output. Those who refused to adopt these new technologies lost larges amounts of both opportunities and wealth. We don’t want that to happen to you now, do we? Before we can understand the future, we must first understand the past.

The past in a nutshell:

  • The first industrial revolution made use of Steam and coal.
  • The second Industrial revolution made use of Electricity and Petroleum and Assembly Lines.
  • The third industrial revolution made use of digital electronics. People refer to this as the Information age.

The demand for computational IQ for both people and machines continue to go up. Everything seems to be becoming smart these days, just like your Virtual Assistant Alexa (thanks Amazon). As a result of this, some jobs and manufacturers will become obsolete. The world continues to get smarter, why should the world of manufacturing be any different?

So if this Industrial Revolution is coming then how do we prepare? What do we do?

Remember that you aren’t alone, solutions like Manufactory make it easy to future proof your supply chain, with inbuilt and clear solutions. There are a lot of modifications to your assembly line, however, everything has a cost. Tacton reported that more than half of the organizations surveyed stated that their organization was not prepared enough for the upcoming Industrial Revolution. Another 79% didn’t feel as though they had already implemented a smart manufacturing strategy in their manufacturing organizations. That’s a crazy number of people who are going to be left behind in this fourth industrial revolution. Do you personally want your organization to lose operational efficiency? Your organization is leaving a lot of potential revenue on the table by not implementing a manufacturing system that takes advantage of cutting edge technology that is available in the Fourth Industrial Revolution. If you are using outdated technology, unproductive supply chains, automatic manufacturing process control, nonconformance management strategies, a lack of machine health monitoring or have poor energy usage. Then you may not be using blockchain manufacturing solutions as effectively as possible to best cope with the next industrial revolution.

If your company suffers from any of the above things, there is a solution coming. Manufactory will offer an all in one solution with over 50 years of experience of senior blue-chip manufacturing. Manufactory’s technology combines artificial intelligence together with machine learning, creating a unique platform for manufacturers, to build clearer visibility around the supply chains. Manufactory will support the factories of today as they become the factories of the future.

Enquire now about how Manufactory can be a part of your manufacturing supply chain. Or how you can support the development of the Fourth Industrial Revolution.

Sources: 

https://www.tacton.com/cpq-blog/industry-4-0-is-the-manufacturing-industry-ready-for-the-fourth-industrial-revolution-2/

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