The most successful companies set themselves apart from the pack with their fearless approach to challenging the status quo, their ability to execute their strategy, and their drive to return shareholder value.
Google Trends data suggests that worldwide searches for 'Industry 4.0' have continually increased since the term was first coined. What's more interesting, is that the same data shows the term 'What is Industry 4.0?' is the most popular related query. Are you surprised?
Most conversations around the industrial IoT focus on its applications in assembly lines or inventory management. By comparison, processes like water management fly under the radar, but they contain the same potential.
It's a common misconception that manufacturers must purchase entirely new and expensive equipment to build the factory of the future. Instead, manufacturers should consider how they can modernize legacy equipment to make it Industry 4.0 ready and compatible with new tech.
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Supported by an integrated ecosystem, the technologies are composed of augmented reality, rapid application development, autonomous robots, digital simulation, and additive manufacturing.
Sometimes the most difficult thing about AI is simply knowing where to start. Identifying potentially impactful use cases is one of the most cited roadblocks for organizations seeking to leverage AI in their business.
Industry 4.0 has been a hot topic at maxon since the drive specialist introduced configurable drives. Now we're continuing to drive digitization - but not at all costs.
Marking of engineered assemblies, components and materials with identification numbers and other data is an essential element of modern manufacture. Until now, this has involved at least a small interruption in the production process for every unit marked.
The essential thing to remember is that humans will remain central to success, regardless of the level of technology deployment and there is not a silver bullet. So, what is the answer for best leveraging technology innovation?
According to a recent report from Boston Consulting Group (BCG), "Quality 4.0 Takes More Than Technology," nearly two-thirds of manufacturers believe that Quality 4.0 will significantly affect their operation within five years.
Industry 4.0, or the fourth industrial revolution, has called for a merger between automated solutions and smarter, more effective operations through the application of real-time data collection.
One of Industry 4.0's key drivers is data integration. By expanding the scope of data collection and making information readily retrievable, computers on the production floor have evolved to facilitate a higher level of collaboration and innovation.
One of the trends we've identified is the interest by diversified industrial companies to streamline businesses and realign around key markets or customer segments to further drive results. We're seeing an increase in mergers, acquisitions, and divestitures as these companies recalibrate their capabilities.
The IoT ecosystem connects heterogeneous processes, personnel, resources, devices, sensors, robotics, heavy machineries, and business procedures in a cohesive way to attain optimum resource usage and enhance the productivity of business processes.
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