The Industrial Revolution 2020
Published by : Industrial Automation
Considering the current market scenario, the world is facing the advancement and innovation in the industrial sector owing to meet the demand for emerging technologies and productivity across the plants and business processes. Also, there is a wide increase in the periodic change in technology that the world has witnessed over the past few years.
A various portion of sectors such as artificial intelligence (AI), nanotechnology, biotechnology, and quantum computing is primarily witnessed the rapid changes in the technological innovation and advancement owing to their feature of quick response and rectification of process automation. In addition, fields such as blockchain, information communications technology (ICT), machine learning, and robotics are generating most investment for the development and implementation at the ground level. It is predicted from the various industry experts that these technologies will bring breakthroughs in terms of operation and monitoring transformation to further change the way societies function and disrupts the entire ecosystem.
In the current market, there are wide investments in terms of money and time to a digital revolution and initiate the company’s operations through analysis of data. These advancements are centered on the gathering, labeling, processing, and analyzing enormous packs of data, which primarily occurs from the information sciences. These data are carried out from the information sciences with insinuations for countless areas of research and development. Moreover, these enormous packs of data have a great potential to provide benefits to the companies for widely enhance the operational efficiency, workers productivity, safety precautions, product quality, and social & economic benefits across a host of sectors.
Technology majorly disrupt the industrial revolution in 2020
The companies are collaborating and partnering for the development and implementation in the daily business operations with the companies having expertise in the development of these emerging technologies in order to properly evaluate the correct combination of trends that can drive the maximum innovation.
Considering an instance, the integration of AI with hyperautomation, edge computing, and blockchain has the highest ability and capability to turn a traditional workplace into a most advanced smart workplace building. Also, these assist with further democratization of technology in the arena of work. The key technologies are expected to disrupt the industrial revolution in 2020 and beyond:
Quantum Computing – The current view on the adoption of quantum computing is indistinct, the technology is growing significantly and its applications are widely unmatched. Consequently, small quantum technologies are expected to be commercialized in the next few years for the business in order to assist companies to be cost-efficient and further lowers operation costs to expand the scope of revenue.
Internet of Things – In the global market, edge computing is fueled by the tremendous growth of the Internet of Things in 2019 and early 2020. However, it is estimated to leverage a set of distributed cloud services to develop an unstructured architecture in the coming years to further enhance its application area to rise the demand for the IoTs to enhance business processes.
Artificial Intelligence – It is based on the combined concept of machine learning, robotics, and user interfaces such as gesture, text, audio, and speech recognition which expected to lead the development to further improve the productivity and eliminate manual intervention across the operating zone.
Cloud Technology – The wide growth in hosted services moving to cloud-based infrastructure, additionally, all the IT services and web apps are exposed and delivered through the cloud as cybersecurity becomes better.
Blockchain – The increase in demand for the efficient supply chain and minimize human errors across the business operations of gathering, processing, and delivery in terms of statistical records. Moreover, its streamlined nature, secure contracting ability, and seamless transactional infrastructure will drive commercial use.
Augmented and Virtual Reality – It adds digital elements to a live view often by using the camera on a smartphone. It widely adopting its application in automobiles and smartphones along with the gaming industry owing to its multi-fold features.
Autonomous Driving – It uses the data annotation and data analysis skills and analysis to operate the functions such as automated lane changing, speed variation, and braking during its way to getting streamlined.
5G Network – This is the most inscrutable developing technology which has the ability to support 1000-fold gains along with the capacity of a 10Gb/s individual user experience at low latency.
“the single implementation or launch of AI, Blockchain, or other automation technologies integration have limited capability, the real kiosk and transformation will witness owing to the integration of these technologies and further work together”
Industry witness the rapid revolutionizations and fundamental change in operations
Transportation is one of the giant industries that comprise of a wide number of sections such as automotive, aerospace, and railways. Considering the change in the automotive subset, the current cars are primarily the most advanced and can be built virtually as a real prototype using the digital twin technology. Now the operator can drive at any road and at any condition along with easy access to the raw materials in the aftermarket owing to the easy production of auto components through the 3D printing concept. Moreover, the development and introduction of autonomous vehicles and connected vehicles are the utmost great instance for the adoption of the use of AI, ML, and other automated technologies to ease the production of these vehicles, as the production of such vehicles was imaginary a few years back.
In the current market, most of the plants are fully or partially automated to carry out the production of vehicles or automotive components. The most advanced automation technologies used in the automotive industry are machine vision, collaborative robots, artificial intelligence for driverless/autonomous cars, and cognitive computing in IoT connected cars. These are primarily witnessing the highest percentage of industrial revalorized technologies in 2020.
“It is estimated that there will incorporation of AI technologies in every aspect from industrial operations to human activity i.e. the way they move, work, and life”
How the Fourth Industrial Revolution or Industrial 4.0 affect business?
The technologies in the current market change the definition of possibility and further transforming customers’ expectations from the businesses. According to the Salesforce Research Survey, 2020 stated that these technologies and experience they enable will be expected to transform the consumer interactions with the companies within five years.
Kindly refer to the image that depicts customer responses to how technology will transform their (consumers) expectations of companies.
The current supply chain of the companies is getting difficult to interpret and evaluate the process within the manufacturing sector. Nowadays, the manufacturers take supplies a wide number of components from the suppliers and further initiate the assembly to make the delivery possible. Thus, this increases the need for blockchain, as it effectively records the data related to the delivery time, product tracking, quality check, and the paperwork related to the entire supply chain. Moreover, the rise in demand for a rise in production capability, product quality, and workers productivity are further increasing the need for the AI in the business operations in the industrial sectors along with the machine learning owing to high adoption of robotic arms across the manufacturing in the automotive, aerospace, electrical, and electronics. Therefore, the rise in need and demand for effective and efficient production and well-balanced cost-effective supply chain is further expected to increase the scope for innovation and development from the manufacturers to meet the demand from the industrial companies. In addition, the growth in trend to seize new technologies and scale rapidly to adopt new ways of manufacturer products along with the rise in a wide number of start-ups and incumbents worldwide are primarily thrives the growth and development for the expansion in terms of revenue and expand the global reach of the industrial revolution in 2020.