How Impactful Is Industry 4.0 To Your Business?
Recently, as the terms of Industry 4.0 have been first revealed, this technological revolution has evolved and developed from purely theoretical concepts into real-world application. Its practicalities are found in numerous fields and impact almost all in such a number of ways. One example is the use of the Smart City Technology which is designed to make the most of the information that can be shared about a city in its various zones. This information is used by devices such as sensors, traffic lights, and other electronic gadgets to make smart decisions based on real time data.
Another application of this technology is in health care. For the past few years, the computerization of the entire patient's records has dramatically decreased the amount of paper needed to keep such records. The impact this has had on the industry is huge as more patients are able to receive treatment and medical attention from physicians and hospitals that are able to access this information wirelessly through the Internet. This translates into significant cost savings and shorter recovery times for those in need.
Manufacturers also recognize the impact this has on their industry. In fact, a recent survey showed that only thirty percent of large manufacturers are currently leveraging all of the benefits that come from Industry 4.0. These companies are still rushing to fully implement the new technologies, but they are finding that the ROI (return on investment) is not there yet. Why? Because real estate is not one of the sectors where this technology is being utilized to its fullest extent. It will be a while until we can say that every manufacturer is fully utilizing the benefits of the technological advancements of Industry 4.0 at its fullest.
There are still going to be certain industries that will have to continue to make the most of the benefits of this technology first. Real estate is still one of them, even though there are already a great number of developers that have begun to utilize the impact of this technology. What they are missing is the mindset change that is needed to fully take advantage of this amazing opportunity.
In the end, only those businesses that take full advantage of the impact of the internet can truly claim to have an impact on the industry. Any business or individual who is concerned with their business can certainly help to drive this impact. Those who resist the change simply can expect their competitors to do so and then eventually they will get left behind. How can you counter the argument that your competition is gaining an edge due to the fact that they have implemented this amazing technology? All you need to do is to demonstrate that you are in a position to adjust and adapt in order to deliver what your competitors cannot.
Industry 4.0 is going to continue to impact businesses as it is more understood and adapted. Only those that embrace its principles can truly say that they have made the most of it. What impact will it have on your business? This is one question that requires you to take action, have fun and find out for yourself.