A Roadmap for Enabling Industry 4.0 by Artificial Intelligence

12Industry 4.0 and Manufacturing Techniques: Opportunities and Challenges

Roshan Raman and Aditya Ranjan*

Department of Mechanical Engineering, The NorthCap University, Gurugram, India

Abstract

The needs of the business are evolving at a fast pace, and companies are rolling out and investing in innovative solutions, new products/services, new business models to stay ahead in market competitions. At the consumer level, the demands of the individualism of products are increasing. The new-age customers want to customize their products, make suggestions for product innovation and express interest in taking part in the development processes. The fluctuations in the demands of the volatile market are one of the main drivers of paradigm shifts in manufacturing processes as this requires fast and flexible adaptability. By an estimate, the demands will double by 2050. By this estimate, it makes clear that there is a need for a sustainable and energy-efficient manufacturing system. This is where Industry 4.0 comes into play. In the past decades, there has been steady development in the field of information technology in general. These developments in a way have brought a revolution in the way we live and how the business/industries are performed. This new age Industrial Revolution paves way for intelligent manufacturing systems that are flexible, adaptive, energy-efficient, and innovative. This revolution involves various technologies, such as wireless networks, data analysis, AI, human-machine ...