Advantages and disadvantages of Industry 4.0

Smart Industry says: "Industry 4.0 is intended to increase the flexibility of production and allow a system to quickly adapt its operation to market changes.
For example, a system control system was able to adapt the production autonomously to fluctuating energy prices and thus optimize production costs. "

Industry 4.0 certainly has some amazing benefits and has long progressed in recent years, but there are still some challenges to be forced.
For example, cyber security is still a big problem and one of the greatest challenges that brings the fourth industrial revolution.
In the following, the advantages and disadvantages of Industry 4.0 are leaf to give you an insight, whereupics manufacturers and industrial companies have to pay attention to the digital transformation initiatives.

The advantages of Industry 4.0

Competitive advantages:
Intelligent solutions and services for Industry 4.0 offer a variety of competitive advantages for companies that can successfully import these new strategies and technologies.
Increase in operational efficiency:
Hope for Industry 4.0 is that the next generation of the industrial revolution increases the profitability of companies even further, since they are able to get more performance out of the same resource use .
Better products and services:
whether it is product quality, security or customer experiences, Industry 4.0 will result in great transparency and a higher throughput in the companies, so that they continue to add added value for customers Create to maintain this.
Growth of the market and new markets:
With every technological revolution, new services, products and software are required to support the transformation of companies. This creates completely new product categories, new workplaces and much more.
improvement in the quality of life as a whole:
With new technologies, highly profitability and economic growth, people in general improve: income increases, health care improves and the quality of life is getting better overall.

The disadvantages of industry 4.0

High costs:
Not only the technology is an important cost factor, but also the expertise that allows the implementation of the technology.
The know-how in newer areas such as IoT, Augmented Reality and KI can lead to significant budget screens, not to mention lack of understanding at all involved.
High failure ratio:
The difficulty in the introduction of industry 4.0 initiatives is that it is often missing in the right direction when it comes to the definition of goals.
Often these are functional projects with many stakeholders, which could lead to the projects in targets are tangled and just run into the emptiness.
Cyber Security:
People, products and devices are and will be increasingly connected to the Internet.
Although this allows us to better access data on the cloud, but also open possibilities for hackers to access networks.
Demand for highly qualified workforce:
The manufacturing industry and industry as a whole continues to depend on people to enable production.
However, with the transition to digitally crosslinked systems, however, the need for highly qualified workforters rises, which could unintentionally drove to reduce the need for low-qualified workforce.
Interruption of industry and market: With the availability of new technologies, the existing solutions will finally expire. Similar to the blockbusters of this world, certain industries will not be able to survive what Industry 4.0 brings on the market.