Industry 4.0 Inspired by a technological leap

Western economies have gone through three industrial revolutions and are now on the cusp of a fourth; industry 4.0. As with previous revolutions, this latest has been inspired by a technological leap. In the late 18th Century, the birth of mechanisation saw the First Industrial Revolution. The development of mass production and automation characterised the Second and Third, but what is driving the Fourth and what does it mean for business and manufacturers? Industry 4.0 has been accelerated by the growth of, the Internet of Things (IoT), artificial intelligence (AI) and connected machinery which has given birth to smart factories.