Industry 4.0 can be called the fourth industrial revolution which introduces relevant improvements to be incorporated into smart and future factories. This will lead to the merging of the digital and physical world. In addition, Industry 4.0 will lead to improved productivity, efficiency, potential effects, economic opportunities and social opportunities.
Global economic growth will mean that even production costs will go down and people will be able to access goods and services at an affordable price. People will progress in various aspects and be able to make wise decisions in an instant.
In Industry 4.0, IT is used to make work easier. This leads to great automation in production and has huge potential to deliver amazing improvements in manufacturing industries in Pakistan. The world is growing and many changes are taking place. What seemed viable ten years ago may not be so now. Different stakeholders are studying how new technologies will help revive their businesses and even increase their productivity. However, some stakeholders are still slow to adopt these technologies due to their different perceptions.
Different components participate in it. However, they were not fully developed; some are still in the initial stages. Those that have been around for a while have proven to be game changers in the industrial world. IT will take the world to another level. However, there is a need to revolutionize the education system, so that students can learn to appropriate various technologies. In addition, companies should be able to train their workers in the use of different technologies to improve their productivity.
First, there is the cyber-physical system, which includes computerized and physical processes. It requires modifications to ensure relevant orders and images enter the system. Thus, the CPS will facilitate access to information, prevention, maintenance and decision-making. Second, there are cloud systems. In this, the data will be stored in a virtual server. Therefore, access to information will be able to be used on different platforms at its convenience. However, this will take a diversified form when it reaches the industrial level.
The third is machine-to-machine communication. This will facilitate the process of direct communication between wired or wireless devices. This technology allows communication from one channel to another. There will be more revenue streams while maintaining operational costs for the benefit of the business. Fourth, the Internet of Things. It is a concept that includes the combination of various technologies based on physical goods/objects and the Internet. So, with IoT, there is the interconnection of physical devices such as vehicles, normal buildings, and other devices. On the other hand, the internet of services is a combination of internet and services.
The fifth is smart manufacturing, which aims to determine how production is undertaken in factories. Smart factories have processes of great importance for our future production. There is also big data and data mining. For optimal benefit, high processing power, good analysis and data management will be required. There is also robotics that will help improve the work environment. Artificial intelligence will play a role in the development of robotics teams. For example, humans will not undertake repetitive tasks, producing high quality products and increasing competitiveness against areas where labor is cheaper. This is important because people can focus on new inventions and use their time to do more valuable things.
The seventh is augmented reality. This is a technology that provides a composite view of an image; it can help promote products and services, launch large marketing campaigns, collect unique user data, increase productivity and complex manufacturing. Augmented reality can then be used in eyewear, medical, mobiles, entertainment industry, tourism, education and security. It will bring great development to the world.
Also, through simulation, people will be able to see new realities in real time. Augmented reality can help different industries such as healthcare, schools, factories, etc. The eighth is enterprise resource planning, in which information systems are designed to bring together all kinds of processes and data in real time. This will help integrate all organizational processes. Most companies are adopting ERPs for the smooth running of their business. Moreover, new startups easily adopt the ERP system to start and succeed in their various businesses.
In Pakistan, digital transformation is widely adopted due to user interaction on various platforms. The Industrial Revolution will play a major role in Pakistan’s GDP growth. Indeed, different industries such as the manufacturing industry will be stimulated to improve production. The transmission of information will also be easier because the relevant stakeholders will be able to receive the desired message.
In addition, digitization makes it easier to perform certain functions. Teams can collaborate on a project when they are in different areas. Therefore, the efficiency also increases by a high percentage. Pakistan will be a major adopter of Industry 4.0 opportunities that will help build the region and improve the lives of residents. The organizational resources can now be well utilized for the complete operation of the plant.
For Pakistan to thrive on the basis of Industry 4.0, it will take reforms, new startups and inventions that will help it to be fully adopted in different sectors like manufacturing, production, goods and services, chain supply and value chain, and many more. Growing a country’s GDP means improving service delivery in the country and regions. However, extensive research still needs to be conducted to ensure that the available opportunities are exploited. Globally, Industry 4.0 is easily embraced and Pakistan should not be left out.
The author is CTO and Director, Information Technology Center at IoBM. He tweets @imranbatada and can be reached at: [email protected]