CredSure Logo

Industry 4.0: How Far it has Come and How you can go Far in it

Industry 4.0: How Far it has Come and How you can go Far in it

In France, it’s known as the ‘Industrie du Futur’, or the industry of the future. In Spain, it’s known as ‘Industria Conectda’ or the connected industry. In Germany, it’s the ‘Industrie 4.0’ – a name that is phonetically closer to the term given by most of the world to the phenomenon that is Industry 4.0, or the fourth industrial revolution.

As varied as the geographies of the aforementioned countries are, the fact of the matter is that they are all chasing a similar goal, and with a great sense of fervency, it must be said.

What is Industry 4.0?

Essentially, it is a move that aims at the complete digitisation of a country’s industries. Now, while Industry 3.0 saw the rise of computers and automation in the industrial scene, there was still a great deal of human intervention involved in this process. Accordingly, Industry 4.0 aims to provide mass customisation, make manufacturing operations mostly autonomous, thereby creating the need for little or no human intervention. 

The fourth era of the industry is the era of Cyber-Physical Systems, comprising of smart machines, storage systems and production facilities powered by technologies such as the Internet of Things (IoT), Big Data Analytics and Cloud Computing, which are capable of autonomously exchanging information, triggering actions and controlling each other.

Has it Worked so Far?

Well, it has undoubtedly made a seismic impact on industries across the globe. 

  • Implementing Industry 4.0, Daimler AG’s Sindelfingen plant in Germany has fully automated its tool-making facility, based on data such as order information and schedules.
  • The industrial giant, Bosch says that being a leading provider and user of Industry 4.0 technology has helped in increasing its sales of industrial technology by 7.7% in 2017. 

The advent of self-organised logistics systems that react to unforeseen changes in production cycles such as product development, manufacturing, logistics and service are now being integrated across organisations. Additionally, organisations around the world are being benefited by the adoption of digitisation practices, as there are now machines that can predict failures and initiate maintenance processes automatically.

As products and systems increasingly become digitised, companies can collect and analyse the data and then incorporate the insights gained to fine-tune, test new concepts, or even customise the product or service according to the customers’ needs.

Moving on to an Important Question: Will Automation Lead to Loss of Jobs that are Deemed to be Redundant?

The answer could be yes and no. This is because while automation processing will lead to companies dismissing employees engaged in redundant tasks, it will also create a skillset-void that will need to be filled. A study into the roles of 15 million workers across 20 different nations found that the rise of smart machines, robots and algorithms will create more jobs (133 million) than it usurps (75 million). Urging, both young and mid-level employees to upskill and be ready for the ‘jobs of the future’. 

LET’S HAVE A LOOK. What are these Roles and Skills of the Future?

  • The financial sector: Professionals in Artificial Intelligence (AI), cryptocurrency, blockchain and cybersecurity – all of which are Industry 4.0 enabling technologies – are highly sought after in the FinTech industry.
  • The engineering sector: There will be a requirement for production, process, chemical and mechanical and mechatronics engineers who will be required to not only to look after operations within industrial and manufacturing units but also develop the automation tools in collaboration with computer science and electronics engineers. Oil, gas and mining or energy sectors will also look to hire engineers with skills in IoT, automation and big data. 
  • The development and application of 5G technology in any field will steer Industry 4.0 to gather more momentum. As 5G will itself boost the speed, connectivity, capacity and reliability factors of IoT technologies – it will lead to substantial increases in flexibility, versatility, productivity and resource efficiency of industries. That being said, the development of 5G technology is one which will require the coming together of experts from many different fields such as electronics engineering, electrical engineering, telecommunications engineering and computer science engineering.
  • IT sector: Software developers, AI experts, IT architecture experts will be required to develop and maintain the automation software that will oversee the automation drive. Also, Big Data analytics professionals will be a huge part of the fourth industrial revolution, as they’ll be required to provide critical data such as customer purchase insights, inventory management, product development data, etc.
  • Education sector: Adopting tech-driven designs will help in shaping the leaders and learners of tomorrow. Emerging technologies will not just impact the jobs and industry, but will also affect the roles of educational and technical training institutes – emphasising the need to produce graduates who’ll meet the demand of the new workforce.

Amidst the shift brought on by the fourth industrial revolution, education bodies will also have to ensure the best possible student and staff experience. Some institutes such as TÜV Rheinland NIFE Academy is already implementing the Education 4.0 experience for their students by embracing a blockchain-powered platform to issue digital certificates, manage training batches, and ease out the placement processes. 

Applying technological solutions and digital estates to futureproof student experience will transform learning and also pave the path to personalised adaptive learning.

These are just some of the roles and skill requirements of the future, as there would be a requirement of technical professionals across many other sectors, including marketing, sales, healthcare and more. 

Now, if you’re an educational institution who wants to be a part of the revolution or an individual who is willing to upskill and make the cut, CredSure is the bridge between you and Industry 4.0. CredSure is a blockchain-powered hub that connects technical professionals from diverse fields with reputed institutions and potential employers looking to hire skilled professionals to drive their digitisation. And not just that, CredSure allows institutes to offer blockchain verified certifications that are secure and extremely reliable.

CredSure aims to be the catalyst that drives Industry 4.0 in the education sector by providing not just the best talent for organisations but also the most fitting talent that can truly make a difference from the word go.

If you’re a person wanting to collaborate and meet the needs of tomorrow’s education, teaching, staffing and business demands today, please do get in touch with us here or request for a demo.