Intelligent value chains and product life cycles
The term Industry 4.0 describes the data-driven, AI-powered, networked "smart factory." This predicted transition of manufacturing processes and technologies is based on these core principles:
Leveraging data through tools and systems that exploit the value of data to increase production efficiency and flexibility. Ubiquitously connecting people, machines and "things" in physical and virtual domains (the Internet of Things - IoT). Increasing product quality and improving speed to market through virtual testing before production. AI-assisted and data-driven planning, production, manufacturing and maintenance.
The result is intelligent value chains and product lifecycles that start with development, move through manufacturing, assembly, product delivery and maintenance, and finally end up in recycling.
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