Industry 4.0: Problems and Prospects in Indian Context (original) (raw)

Abstract

Technology has changed the face of the industrial and manufacturing world. This is the age of the fourth industrial revolution, commonly known as Industry 4.0. It means the introduction of automation and data exchange in manufacturing technologies like Cyber-Physical Systems, Internet of Things, big data and analytics, augmented reality, additive manufacturing, simulation, horizontal and vertical system integration, autonomous robots as well as cloud computing. It links between man and machine by integrating and combining artificial intelligence in machines. The main aims of Industry 4.0 to initiate transformation in industrial manufacturing through digitalization and exploitation of the potentials of new technologies. In essence, Industry 4.0 is related to the creation of creates "smart factory". Amazon, Uber, Facebook, "smart factories" and 3D printing, are among modern pioneers of the new industrial revolution. But with a great opportunity, comes great challenges. The aim of this paper is to present and facilitate an understanding of Industry 4.0 concepts, its drivers, enablers, goals, and limitations.

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