Industry 4.0 is one of the trends of Mechanical Engineering which focuses on Data exchange and Automation in manufacturing technologies and processes which include the Internet of Things (IoT), artificial intelligence, Cloud computing, Industrial Internet of Things (IIOT).
“Industry 4.0” factories have the machines which have sensors and other parts with wireless connectivity which can visualise the entire production line and make the decisions on its own.
The essential goal of Industry 4.0 is to make manufacturing – and related industries such as logistics – faster, more efficient and more customer-centric, while at the same time going beyond automation and optimization and detect new business opportunities and models.
One of the first goals of Industry 4.0 projects. In other words: saving costs, increasing profitability, reducing waste, automating to prevent errors and delays, speeding up production to work more in real-time and in function of the overall value chain, where speed is crucial for everyone, digitizing paper-based flows, being able to intervene faster in case of production issues and so forth.