Business leaders at Nokia share their Industry 4.0 insights on sustainability and resilience. Due to COVID-19, companies have found the need for digital resilience and have seen what digitalization has done for them and want more. They have also realized that sustainability is financially essential. Read on to learn the impacts on not only business but also all professional services (specifically banking and insurance) as well as government.
What Companies And Governments Really Want From Industry 4.0
Every technology has its inflection point. After decades of development, PCs hit the shelves in force in 1980 and, whether desktop, laptop, or hand-held, have been a consumer staple ever since. GPS systems went mainstream in 2007 and today are the primary navigational tool for billions of people and systems worldwide. We may now be at the inflection point for Industry 4.0 - accelerated.
Industry 4.0 encompasses many technologies: the industrial internet of things, automation, artificial intelligence (AI), edge cloud, 5G and more. Their various capabilities became critically important to companies and governments during the global pandemic, given the sudden need for resilient operating models and virtual ways to maintain productivity despite lockdowns and new health protocols.
While the underlying value proposition of Industry 4.0 hasn’t changed — it’s still about gaining efficiency and productivity through streamlined processes and automation, greater situational awareness and predictive technologies — real-world deployment experience and the unexpected pressures of the need for virtual access to everything have prompted a re-evaluation of what matters most.