M4E #7: IIoT vs Digital Transformation vs Industry 4.0
You may be tired of hearing and reading things about Industry 4.0, the Fourth Industrial Revolution. This is a topic that sooner than latter should appear in M4E as it defines the future of manufacturing. However, today’s video focuses not on defining what is Industry 4.0 but on clarifying differences between three terms that are often interchanged: IIoT (Industrial Internet of Things), Digital Transformation and Industry 4.0. Walker Reynolds from 4.0 Solutions explains us these concepts.
Time for Insights
The First, Second and Third Industrial Revolutions took several years to be completed. In fact, the two first ones lasted about a hundred years each. We can say that the third one (automation) has not yet been completed and the fourth one started around 10 years ago. However, some people starts to talk about Industry 5.0. What do you think about a new revolution starting when others are still starting in many companies?
“Rome wasn’t built in a day”. The complete Fourth Industrial Revolution won’t be achieved in the short term. In the following pictures you can see some of the stages devised in 2015. At the moment the majority of achievements reached have been made in operational efficiency and new products & services though many companies.