Industry 4.0 is a term to describe how nine cutting-edge technological concepts converge to connect machines and equipment producing smart factories. As a result, machines and equipment can now talk to each other, share information, diagnose problems, fix issues, optimize processes, enhance scheduling, and decrease delivery times.
WHAT IS INDUSTRY 4.0?
Industry 4.0 has been brought on by a series of nine recent technological advancements outlined below, especially the advent of sensor technology and the Internet of Things (IoT), that when used together in conjunction with each other connect machines and equipment.
The Nine Technologies in Industry 4.0
Internet of Things
Extended REALITY (XR)
XR is the umbrella term that encompasses all things AR/VR/MR.
In this episode Brad breakdowns the components of XR by looking at each technology individually; Augmented Reality, Virtual Reality and Mixed reality and how they are impacting businesses and industries all around the world.
A digital twin is a digital replica of a living or non-living physical entity. Digital twin refers to a digital replica of potential and actual physical assets (physical twin), processes, people, places, systems and devices that can be used for various purposes.
In this episode, Brad takes a look at Digital Twins, how they are created and how they are currently being used and the advantages that come with that.
AUGMENTED REALITY (AR)
Augmented Reality is utilizing digital/computer generated assets in a real world environment using a smart phone, tablet or other hardware. In this episode, Brad explores what Augmented Reality is (AR) and how it is currently being used in Industry.
INDUSTRY 4.0 ACCELERATOR GRANTS
Centrepolis Executive Director Dan Radomski joined Brad Waid in the inaugural webcast event on May 7 to discuss the Industry 4.0 Accelerator Dan explained the Industry 4.0 Accelerator program—the first of its kind in the U.S. with the goal to help small and medium-sized technology and manufacturing companies along their digital transformation journeys.
The Industry 4.0 Accelerator program is a $2.5 million investment fund made possible through the Michigan Economic Development Corporation (MEDC) with $1.3 million currently available for early-stage companies as well as established firms looking to commercialize products, services or technologies within the Industry 4.0 sector.
Brad will discuss future Industry 4.0 shows and welcomes any input from the audience on areas they would like to see covered.