Are you ready for the future of manufacturing?
Gordon Moore, the man behind Moore’s Law, predicted that the performance of microchips, computers, and bandwidth will double approximately every two years. This golden rule which set the pace for innovation and growth in the electronics industry has also extended to other technologies. Sensor technology, artificial intelligence, 3D printing, and nanotechnology are just a few instances of rapidly flourishing technologies that are revolutionizing industrial processes and giving rise to the era of Industry 4.0 or the Industrial Internet of Things – IIoT. Check some IIoT resources here.
A recent survey by Accenture of over fourteen hundred global business leaders revealed that eighty-four percent of the leaders were confident that they could generate fresh income streams from the IIoT. Despite this belief, close to seventy-three percent had still not formulated any tangible plans to do so, and merely seven percent had worked out a holistic strategy backed by investments.
The suitability of their current infrastructure is key for manufacturers who are on the brink of transformation to Industry 4.0 and demands either modifying existing equipment with sensors and connectivity or in some cases getting completely new equipment. These transformations come at a cost – modernizing existing infrastructure is not a cheap proposition. Traditional equipment is often proprietary and closed and requires substantial spending to ensure its interoperability in an open and networked ecosystem.
Faced with this challenge, manufacturers cannot simply overlay existing infrastructure with the technologies of Industry 4.0. They need to figure out a practical approach and determine which existing equipment and networks can be built on. Manufacturers who enjoy profits from new technologies don’t just plan meticulously, but their plans are also flexible enough to let them alter their path when circumstances call for it and follow another course of action to attain their objective.
In his article, “A practical approach for manufacturers transitioning to Industry 4.0”, Dean Hamilton, General Manager of Accelerite’s IoT business, outlines a graceful transitional path that manufacturers can follow to begin taking advantage of all that Industry 4.0 has to offer, without throwing out all their legacy infrastructure. Read the complete article to understand how you can successfully navigate the next wave of manufacturing disruption.
Accelerite offers SCAIDATM (Supervisory Control with Artificial Intelligence Data Analytics) solution, built on top of Concert- our IoT service creation and Enrichment platform. Concert SCAIDATM makes it possible for production line subject matter experts to make their own JIT process and AI-assisted analysis innovations without software developer resources. Know more about how Concert SCAIDA evolves factories towards the smart factory vision.