Best Ideas: Industry 4.0
In our latest update we focus on the 'cyber-physical' systems that are transforming manufacturing and production in what has been dubbed the Fourth Industrial Revolution.
The first industrial revolution began in Great Britain and was powered by steam. The second was global and powered by electricity. The third was triggered by the rise of digital technology. Now we are moving into the fourth as robots and artificial intelligence offer new ways to make industry far more efficient.
The potential of this period hinges on the seamless communication between connected devices. These new ‘cyber-physical’ systems are creating new ways of doing things and disrupting old business models. We can easily recognise this disruption with platform businesses that have popped up in transport (Uber), shopping (Amazon), chores (Task Rabbit) and travel (AirBnB). Below we explore examples of companies at the heart of manufacturing and production.
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