The time for choice is short. At the World Economic Forum in 2020, Klaus Schwab highlighted the fusing of physical, digital and biological worlds as a result of new technologies.
It is the combination of Artificial Intelligence, Robotics, Big Data, Virtual Reality and computing power that has started this revolution.
Are we up to speed?
In most cases business is lagging behind in the adoption of technology. Consumers adopt tech at a phenomenal rate, for example how many of us speak to “Alexa” or “Siri”? How many of us use this same technology in the workplace?
Large new factories are designed with robots operating production lines, each new warehouse for global companies is created with robots picking goods and sophisticated programs allocating the storage locations. Yet, for many businesses in the mid-market, the adoption of digital technology and automation has not really started.
Adapting to technological change
Change is considered difficult. Industry 4.0 will not only require embracing the adoption of these new technologies but at the rate of change required, as it is accelerating. With the average UK business currently existing for 8.5 years according to UK Government statistics, if competitors and markets adopt the new technology it is easy to see that those businesses which are laggards could become extinct.
Industry 4.0 can be applied in the business with the use of Software Robots (aka “Robotic Process Automation”) and Artificial Intelligence (“AI”). In days and weeks, repetitive business processes performed on computer systems can be automated. Once the first automation is in place, you can see a mindset change in both business managers and staff, as they all want more automation to improve the business and the working activities of staff. It is all positive, not the “Fear of job losses” that the media headlines like to paint.
Industry 4.0 provides an opportunity for businesses to be “Stronger Together” by learning from each other, sharing experiences and collectively embracing the opportunities created by the start of this revolution.
MD - Ether Solutions Ltd
Ether Solutions helps businesses embrace intelligent automation with software robots for productivity and quality. www.ether-solutions.co.uk
Office Tel: 0845 643 4410
Mobile: 0772 0707 662
Please note, this content is not produced by the IoD and therefore does not necessarily represent the views or thoughts of the organisation.