Industry 4.0

The Fourth Industrial Revolution or Industry 4.0, is the current transformation of traditional manufacturing and industrial practises with the latest smart technology. This primarily focuses on the use of large-scale machine to machine communication (M2M) and Internet of Things (IoT) deployments to provide increased automation, improved communication and self-monitoring, as well as smart machines that can analyze and diagnose issues without the need for human intervention.

Automation and artificial intelligence have given many benefits and to humanity and society as whole, but there were also negative side effects. Those advancements changed industry faster than economies could adjust, displacing workers and limiting the usual route for poor countries to develop.

Skyrocketing investment in AI, surging sales of industrial and service robotics, and cloud-based platforms operating without local infrastructure created more opportunities for convergence and more disruption to labor markets. The “Internet of Things” (IOT) — where more and more interconnected devices can interact — created efficiencies but also security risks.