Industry 4.0 is the industrial revolution that includes the adoption and implementation of digital technologies, automation and data exchange techniques
At a recent summit held at IIM Rohtak, experts discussed the importance of new technologies for Industry 4.0 and the latter’s impact on traditional business methods. Dheeraj Sharma, director, IIM Rohtak opined that developing cybersecurity and cyber-immersion in institutions would help in the era of the fourth industrial revolution.
Internet of things (IoT)
The discussion highlighted the impact of the internet of things (IoT), cloud computing and big data on the way industries function. Experts suggested that upgrading and training the industry dealers on these skills would help in keeping up with the transformation in the industry. IIM- Rohtak, in a statement, said that the impact of these technologies was widespread in the sectors like manufacturing, supply chain, distribution, and retail and businesses upgrading their current strategies with the inclusion of IoT was essential to ramp up their games.
Arvind Bali, CEO, Videocon (Telecom) viewed that the imparting the Industry 4.0’s Skills was essential at the age of industrial transformation in India. The manufacturing sector was also implementing smart technologies in the production business.
A unified name given to the trends of implementing automation and data exchange in the manufacturing sector, Industry 4.0 comprises cyber-physical systems, IoT, cloud computing and is commonly called the fourth industrial revolution. Its aim is to introduce smart factories in India.