1. Industry 4.0 proposes a very exciting vision for companies of the future, but implementation is still in its infancy. Do you think that companies understand why digital transformation through Industry 4.0 is relevant to their future strategies?
In the current climate, organisations understand the need to increase their competitive edge by providing customers with shorter delivery times, 24/7 operations, and customised service. Many companies face challenges such as volatile and sluggish market conditions, on top of labour shortages. Automation will reduce the need for repetitive tasks and open opportunities for higher-level roles for people working in manufacturing environments, helping to address many issues. Adopting Industry 4.0 is not only for the sake of competing. Eventually, it will be essential for survival.
It's only a matter of time before the hardware and software that links equipment together on the factory floor are applied for a more seamless and flexible production line. As German Chancellor, Angela Merkel, has eloquently summarised: "everything that can be digitized will be digitized".
Currently, according to a recent report by Forrester, more than 70% of Asia-Pacific enterprises have in place an Internet of Things (IoT) solution or are in the process of implementing one. Companies do realise the potential of Industry 4.0 in creating a 'smart' factory, but as with every new technology, it will take time to integrate into a current infrastructure.