The Fourth Industrial Revolution. Industry 4.0. No matter what you call it, digital technology has upended the way automakers and suppliers do business.
Mercedes-Benz has defined Industry 4.0 as "networking the entire automotive value chain — from design, through production, to sales and service."
Boston Consulting Group has identified nine technologies that are driving Industry 4.0:
- Additive manufacturing
- Augmented reality
- Autonomous robots
- Big data and analytics
- The cloud
- Horizontal and vertical system integration
- The Industrial Internet of Things
Here are some of the ways the industry has incorporated these innovations.