Entrepreneurs today face more challenges than ever. In a deeply connected world, it’s hard to make a decision without a massive ripple effect.

The Fourth Wave of the industrial revolution has really begun to impact the world. It’s an impact that can’t be ignored if you hope to succeed as an entrepreneur.

It is difficult to present a complete description of everything that Industry 4.0 entails. However, even a cursory glance at the relevant technologies will go a long way to inform and prepare entrepreneurs.

Oven? What about the others?
It is not really the objective of this article to make an in-depth analysis of what the Industrial Revolution is and what it meant.

However, a brief introduction to Industry 4.0 is appropriate. The Fourth Industrial Revolution, as it is sometimes called, is essentially about relegating more and more decisions to automated processes.

Machine learning, interconnectivity, and real-time analytics are the hallmarks of today’s industry. For old companies entrenched in outdated production models, this presents a serious challenge.

It’s a much more productive environment for startups and new entrepreneurs. In addition, newly created companies can be designed from scratch to integrate 4.0 technologies.

These are the great technological advances and how they are transforming the industrial landscape.

Autonomous Robots

The process of phasing out human labor has come a long way in some industries. In some automobile manufacturing plants, cars are built virtually entirely without human intervention.

The safe and effective use of robots in various industries is one of the fastest growing facets of Industry 4.0.

interconnectivity
Every part of the manufacturing process can now be intimately connected to one another.

Embedded computing is becoming more affordable and compact. The result is a fully optimized production line where everything is optimized down to the smallest detail.

Analytics
Data is king in this new industrial world.

Every decision and every process is recorded and recorded. Big data informs decisions with extreme precision.

In addition to having more information, information is available minute by minute. All decisions can be made in real time with full knowledge of the implications.

Full system integration
Industry 4.0 technologies are overthrowing outdated notions of vertical and horizontal integration.

The unprecedented levels of operational efficiencies we see today are bringing all layers within organizations together. Data and analytics can flow freely throughout the organization and form massive cohesive units.

simulation tools
Simulated environments are used more and are seen as a great data generation tool.

Production input and output simulations produce real-time data that is used to optimize production values. Machinery, processes, and implementations can be tested at a small fraction of the cost of physical testing.

Setup times for both machinery and production lines, as well as the total operational capacity of the facilities, are drastically reduced.

cyber security

The benefits of connectivity and the availability of real-time data are tempered by the risks of data falling into the wrong hands.

Cybersecurity is one of the highest priorities in Industry 4.0. The entire system is based on secure communication lines. Cybersecurity as a skill is becoming extremely valued.

additive manufacturing

Commonly known as 3D printing, this technology is doing wonders in the world of manufacturing.

Small batch productions make it easy to test products. Prototyping was once one of the most expensive parts of product design. With additive manufacturing, prototyping is fast and cheap.

It also paves the way for much more complex designs than we’ve had access to before.

Cloud Computing

High levels of data connectivity and the need for more compact processing units are driving most computing needs toward the cloud.

The functionality of almost all machines is enhanced with cloud-based computing. Also, having a cloud-focused decision center can deliver more data-driven production services and systems.

Get fit or send out
Industry 4.0 is here and it’s not going anywhere. If you are considering starting a business or already have a business, you should be aware of and plan to implement these technologies.

If you intend to rely on outdated production and service models, that’s a recipe for disaster. Data and interconnectivity are taking over.