Joe Bombagi for Business Review Europe:  The first industrial revolution was based on the use of steam to power machines. The second centred on the use of electricity to supply energy to assembly lines. The third came about with the use of electronics and IT to further automate production.

But all of that is in the past. We are now in the midst of the fourth industrial revolution, known as Industry 4.0, in which the Internet of Things (IoT) is set to overhaul not only business, but also every aspect of modern life. From cars, washing machines, and even clothing, to heart monitors and dams, anything and everything will soon be connected.

As a result, the Industry 4.0 phenomenon is expected to revolutionise all areas within the manufacturing space, connecting all the elements that take part in the production process within the industrial environment: machines, products, systems, and people. The IoT will make today’s organisations more competitive by enabling them to further automate manufacturing processes, and collect and analyse data which they can then use to tailor their products to specific client needs.   Cont'd...