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Industry 4.0 and immediate challenges

Industry4.0 is an ideal state of efficiency, but is tough to get implemented in the near future, few challenges that I foresee;

1. IT security issues. The previously closed system will need to open up to vulnerabilities of the Internet. We need a secured and #Insured system to safeguard USPs

2. Stability and uniformity in machine to machine integration with least latency – A common protocol and platform need to be developed i. e an ecosystem

3. Consent. If we are deploying 4.0 for the public domain, consent for each sequence and machines will be tough. The essence of 4.0 is a smooth flow of information

Piyush Singh_FinTech_Industry4.0

4. Management reluctance to do something new which could suddenly go out of control in case of any glitch

5. Need of Standardisation, and Certification across industries for uniformity and DataProtection and Privacy.

6. Fear of “loss” /changed dynamics of Job

7. Lack of adequate skill sets

8. High investment in resources

9. Proper understanding & implementation of Content and Context

10. IoT & Internet of Values (IoV) will change business models

11..Please add more

A company who is creating an ecosystem with different tools will get benefitted from industry 4.0 like Amazon Google, as they can take benefits of shared infrastructure and customers.

What is your take on Industry 4.0?

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