Much has been said about Industry 4.0, and how it has revolutionized the manufacturing world by providing manufacturers with opportunities to utilize advanced tools and technologies throughout the product lifecycle. There’s no doubt that Industry 4.0 has enabled manufacturers to increase operational visibility, reduce costs, expedite production times, and deliver exceptional customer support.
However, as 2021 rapidly approaches, it’s time to turn our attention away from Industry 4.0 and toward Industry 5.0. Where the fourth industrial revolution focused on using technology to optimize the means of production, the fifth is all about connecting man and machine — that is, collaboration between humans and smart systems. Depending on who you ask, Industry 5.0 is either on the immediate horizon, or it’s already here, its arrival accelerated by the onset of the COVID-19 pandemic.
Regardless which viewpoint you subscribe to, there can be no doubt that manufacturers must continue to embrace change in order stay ahead of competitors and win market share in an ever-evolving industry. Those who wish to not just survive, but thrive, must leverage the latest technologies and trends.