A new report from Stratus asserts we’re on the brink of huge change and disruption, dubbed the ‘fourth Industrial Revolution’.
According to Stratus, Australia and New Zealand are slowly embracing the wave of Industry 4.0 that’s sweeping global manufacturing, however it’s just not fast enough.
Stratus says with the rise of Industrial Automation (IA) in manufacturing, legacy operational technology (OT) has become increasingly dated. The Industrial Internet of Things (IIoT) is also paving the way for industrial organisations to harness the latest technologies and remain competitive in a rapidly evolving industry.
Results from the Global Innovation Index reveal the disruption couldn't come soon enough, as both Australia and New Zealand fell two places in 2016 (19th and 17th respectively).
This is put in an even harsher light when compared to our Asian neighbours - Singapore ranked sixth, Korea 11th, Hong Kong 14th and China 25th, notably entering the top 25 most innovative nations for the first time.
Stratus says to get future-ready and better-positioned to compete with overseas competition, organisations across Australia and New Zealand need to move away from traditional operational models and embrace innovations like IA and the IIoT.
Industry 4.0 will build the smart factories of the future - think seamless operational systems equipped with autonomous robots, big data and analytics, augmented reality, additive manufacturing, horizontal and vertical system integration, simulation, the cloud, and cyber security functions.
However, innovation almost always requires investment. While the IIoT offers tremendous potential for organisations seeking new drivers of growth and innovation, many current manufacturing operations rely on production systems that may be years or even decades old, representing large investments and long depreciation cycles.
Stratus has put together some steps to help organisations to bridge the gap between their legacy automation systems and the technologies that enable them to embrace the IIoT revolution, including:
To conclude, Stratus affirms forward-thinking organisations are riding the wave of Industry 4.0 and making the transition to the IIoT. To make the transition with confidence, organisations must rethink outdated legacy systems and embrace IA in this rapidly evolving industry.