Class of 2024Monroe Twp, NJ
- "Is Industry 4.0 truly beneficial to businesses?" with mentor Daniel (Sept. 11, 2023)
Is Industry 4.0 truly beneficial to businesses?
Started June 9, 2023
Abstract or project description
There have been four industrial revolutions, the 1st, 2nd, 3rd, and now Industry 4.0. The 1st revolution evolved from focusing on manual labor to use of labor with machine tools. The 2nd revolution introduced steel and electricity in factories, and the usage of mass production methods. The 3rd revolution started to incorporate more electronics and computer technology into factories. Industry 4.0 is references the fourth industrial revolution. It's characterized by the use of automation, advanced data analytics, and smart and autonomous systems. Specifically in the pharmaceutical field, industry 4.0 is beneficial due to its ability to accelerate operations and and increase accuracy. However, with the implementation of the usage of more digital technology, companies are more vulnerable than ever. With this, the following question is raised; is Industry 4.0 truly beneficial to businesses? Do the benefits outweigh the safety risks?