June 2022 - Business Strategy e Magazine

The term - Industry 4.0 or the 4th Industrial Revolution is circulating in popular Industrial vocabulary since 2015. The Forum Founder Executive Chairman - Klaus Schwab popularized this term to indicate a gross paradigm shift in industrial capitalism and technological advancements that feature a modern industrial operational framework. One of the significant features of the Fourth Industrial Revolution is the use of Artificial Intelligence and Robotics in almost every sphere. The automation of Industrial activities and greater dependence on the Internet of Things (IoT) are marked characteristics of Industrial 4.0. This fourth wave of the Industrial revolution also talks about the Digital Age and the Prolific pedestal importance of Social media in Industrial Whereabouts. Industrial 4.0 is synonymous with a digital transformation of the industrial world, enhancing productivity, flexibility, and agility through the increased use of advanced technologies and automation.