Industry 4.0, also known as Economy 4.0, is the name given to a new manufacturing model where connectivity and data collection and processing are widely applied throughout an entire manufacturing chain.
Smart factories differentiate themselves from automated factories because they are not simply automated; they are connected, monitorable, and cooperative.
It’s important to know that Industry 4.0 is not only related to manufacturing; it can be understood as the creation of new manufacturing models designed to create more personalized and engaging experiences. The new model emphasizes that having data is a key factor for success, and new business models are being created at the intersection of current business models. Cloud computing, the IoT, cognitive computing, and blockchain are some of the technologies that have been driving this new model.