Industry 4.0 technologies are rapidly disrupting business models. Here’s why Industry 4.0 matters.
Industry 4.0, or the Fourth Industrial Revolution, is the term used to describe the convergence of IoT-driven technologies, augmented decision making and advanced automation. These next-generation technologies are fundamentally transforming the traditional value chain by opening new revenue streams and driving a step change in business performance.
The speed of technological change has, however, created many questions for business executives, such as: ‘What technologies are right for my business?’, ‘How can I measure my return on investment?’ and, simply ‘Where do I start?’
Our experience suggests there are six key dimensions to Industry 4.0 that are critical to developing an effective roadmap for your business.
Despite the promise, our recent global benchmarking report on the current state of Industry 4.0 readiness revealed that many businesses find themselves ‘stuck’: their data- and technology-led approach has yet to deliver the promised benefits. Many have experimented with pilot projects but are now struggling to find a return on investment as they scale.
The bottom line is that the fourth industrial revolution is happening right now and it is bringing unprecedented advances in technology.
Whether it’s the Internet of Things, Artificial Intelligence, Big Data or Augmented Decision Support, it’s clear that these next generation technologies hold the potential to be truly transformative for businesses and their operations.
Do you want to learn more about Industry 4.0 and how to invest with confidence and clarity? Watch this interview with KPMG UK's Industry 4.0 experts to find out more.
Watch our short, animated video and learn more about what Industry 4.0 leaders are doing to create competitive advantage.