One of the industries which is being revolutionized by digital innovations is the Manufacturing Industry. Industry 4.0 is setting up a stage for rapid change with IoT, machine learning, cloud computing, artificial intelligence and cognitive computing all coming together to change how things are produced. Digital innovations and IIoT have enabled smart manufacturing, and provide full visibility of assets, processes, products and all other resources. This in turn, can provide an opportunity to optimize the productivity, streamline the operations and increase productivity. Furthermore, industry 4.0 is hugely influencing how new products are designed and developed. 3D printing is changing how products are validated, and technology is revolutionizing supply chains, logistics, sales and all other major functions of manufacturing industry, thereby increasing the efficiency, and interconnectivity.
In fact, the biggest benefit of digital innovation is the new ability to integrate individual customer preferences to product manufacturing. With this, manufacturing of products in the future can be customized to individual preferences, and developing an efficient ecosystem to enable this could cause a substantial change in the business model.
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