The first industrial revolution came about when manufacturing meet steam power. The second, when electricity came about to power factory machinery. The third, when digital technology was introduced and because of the growth in the ever-evolving digital domain a fourth industrial revolution is now upon us - Industry 4.0.
IR-4.0 brings together information-technology and production-technology where automation applications and robots influence production performance and production quality - reducing human-induced inefficiencies and errors. Smart machines that operate in measured and fixed ways to enable precise planning , increasing productivity and quality, and minimizing down-times and failures.
As Industrial Revolution 4.0 takes hold and evolves, new industry sectors will emerge as others disappear, drastically impacting companies, countries, and people across the globe.