The Fourth Industrial Revolution, Industry 4.0 and 4IR are terms that are becoming commonplace in manufacturing. Now that these terms are accepted, a new wave of technical turns of phrase have been born.
Smart technologies are becoming increasingly ubiquitous in our day to day lives. From smartphones to smart homes, the dramatic increase in power and sophistication of technology is opening up new technological frontiers and promising endless possibilities for the development of many different industries, particularly manufacturing.
Manufacturing has been earmarked by the World Economic Forum and the European Union as a major driver of increased employment opportunities, reduced carbon emissions and better educational prospects for young people. This huge ambition largely rests on the advent of the smart factory and the rollout of Industry 4.0, which will make manufacturing more affordable in high-wage countries.