You must have read about Industry 4.0 many times. But have you understood it? This article will break the essentials down for you.
Machines are beginning to play a more prevalent role in our lives and this is ever-increasing from healthcare to motors.
Why do we need AI?
Although humans are extremely intelligent beings, we are capable of losing focus, concentration and getting distracted. In this sense, machines are more powerful than us and have the ability to keep working and producing 24/7.
Another industrial revolution
This new technology has the power to bring on a fourth industrial revolution and this impending revolution has been dubbed “Industry 4.0.” This new wave will include the Internet of Things, Big Data, augmented reality, 3D printing, robotics and more.
AI is simply building upon the third revolution – the digital revolution. The fourth revolution is starting to commence already and just like all the previous revolutions, this will also impact heavily the way in which we currently work. Innovation is evolving more rapidly now that it ever has in any other time in history.
This revolution will also create a whole host of new jobs – many that do not currently exist. Many areas will witness a boom including: social media, coding, business intelligence and IT security. Governments and economic forums around the world have been discussing this for some time now and the changes that will occur as a result.
Big Data is going to be worth $102 bn by 2019 according to IDC research. If you are fascinated by these new and upcoming changes and want to benefit from the opportunities big data offers, take a look at our MSc Data Analytics and Information Systems Management.