Aug 21, 2015

The steam engine powered factories in the 19th century, electrification led to mass production in the early part of the 20th century, and industry became automated in the 1970s. Now we are in the midst of a fourth wave of technological advancement that BCG calls Industry 4.0: the rise of new digital industrial technology. In this transformation, sensors, machines, workpieces, and IT systems will be connected along the value chain beyond a single enterprise. Industry 4.0 will make it possible to gather and analyze data across machines, enabling faster, more flexible, and more efficient processes to produce higher-quality goods at reduced costs.