The 4th industrial revolution is being driven by new technologies that allow seamless connectivity of multiple IoT devices with machine-to-machine (M2M) communications. This integration of intelligent devices within the Internet of Things has revolutionized the way many companies operate by reducing costs and improving accuracy through automating communications between central systems and remote devices, and eliminating the need for regular human intervention.
After mechanization, electrification and digitalization of everyday processes, now we are seeing the next stage of development: “smart” networking. In this context “smart” means intelligent, decentralized, real-time capable and self-optimizing devices. Above all, production and logistics industries will merge their information technologies with Internet-connected devices to allow businesses to gather detailed information about their operations in real time, enabling them to make decisions that can benefit the bottom line.
M2M (Machine to Machine)
Machine-to-Machine (M2M) technology is poised to reshape every aspect of the business landscape: operational efficiency, quality control, decision-making, relationships with customers, and transactional opportunities are enabled and enhanced by M2M applications. Access to real-time, actionable data can make organizations smarter, more nimble, allow them to better manage resources, protect assets, deploy intelligent e-business applications, and quickly respond to rapidly changing conditions. The promise of M2M is that with the right intelligence, delivered in real time and used appropriately, services can be offered and tailored to customers in ways that were never before possible. Resources can be monitored and utilized more efficiently. Operational costs can be reduced. Paired with smart systems, M2M can even use data to automatically trigger and carry out decisions that serve the businessâ€™s objectives, often times even faster and more efficiently than employees could.
IoT (Internet of Things)
The “Internet of Things” is a phrase describing the technological trend of integrating computers as intelligent devices in electronic equipment and systems, allowing for communication capability via the Internet. Even simple everyday objects can interact with each other and make apartments and homes “smarter”. With a countless (and rapidly growing) array of devices communicating with other devices across the Internet, the Internet is no longer simply a network of computers but rather whatâ€™s commonly referred to as the “Internet of Things.” These IoT devices, which have easily surpassed a billion worldwide and are expected to be at least one-third of all connected devices this year, include point of sale (POS) systems, video surveillance, smart meters, digital signs and kiosks, ATMs, and medical monitoring devices.
The 4th industrial revolution is the phrase coined to describe the seamless connectivity of multiple IoT devices with machine-to-machine (M2M) communications. The goal is to establish intelligent factories (Smart Factories) that utilize their resources most efficiently, are highly flexible and ergonomic whilst at the same time allowing for customer and business partner involvment both in the production and in other value-add processes. This computerization of manufacturing technology allows companies of the future an increasingly lean, decentralized and flexible production planning and control. Taking data and purposefully integrating it into enterprise systemsâ€”the basic function of M2Mâ€”has transformed the construction, manufacturing, healthcare, transportation, and retail industries. We are indeed at the beginning of the 4th Industrial Revoliution.