The rise of Industry 4.0 lays out opportunities for South-east Asian manufacturers
Add BT as a preferred source
CONSTANT technological innovation is a hallmark of the industrial era. The first industrial revolution brought mechanisation, steam and water power to the Western world in the late-18th to early-19th centuries. Since then, global manufacturing experienced two more seismic advancements during the second (assembly lines and mass production) and third (automation and information technology) revolutions.
Today, manufacturing has begun its move into the fourth revolution, Industry 4.0. It is, in short, the modern era of automation. Achieved through enhanced connectivity and communication between cyber-physical systems, the Internet of Things (IoT) and the Internet of Systems (IoS), Industry 4.0 will have a wide-ranging impact on businesses that properly harness its potential.
McKinsey says Industry 4.0 could generate productivity gains of between S$294 billion and S$853 billion (US$216 billion and US$627 billion) in Asean.
TRENDING NOW
Think twice about rebuilding that old landed property into a super-big house to max out GFA
SpaceX’s US$1.75 trillion IPO: How retail investors, including those in Singapore, can buy shares
Battle for Asia’s ultra-rich: ‘Singapore can’t afford to keep losing clients to Dubai, Hong Kong’
STI drops as much as 1.7% as Asia markets hit by tech sell-off
