The world as we know and experience it today has been shaped by four major industrial revolutions. The first, which began in Great Britain in 1765, prompted the transition from an agricultural-based economy to one driven by steam-powered mechanical production; the second, in 1870, got underway with the invention of electricity and the electric motor, which allowed for the mass production of consumer goods; and the third, in 1970, opened the door to optimized and automated production as a result of information technologies.
At the core of Industry 4.0—a term coined at Hannover Messe 2011—or the Fourth Industrial Revolution as it is sometimes referred to, is an accelerated process of digitalization that is interconnecting organizations, people, products, value chains and business models via a wide range of constantly evolving technological capacities such as robotics, artificial intelligence, nanotechnology, quantum computing, the Internet of Things, additive manufacturing, augmented and virtual reality, 3D-printing, big data and cloud computing, to name just a few.
In this context, the digital transformation is no longer optional for companies that want to compete in the 21st century. According to reports like the PwC Global Digital Operations Study 2018, the digitalization and smart automation of industry will account for as much as 14% of global GDP by 2030, while The Economist Intelligence Unit’s DXC Global Digital Enterprise 2019 survey revealed that 68% of companies polled saw their annual profits increase as a result of their digital strategy. Likewise, 83% said they planned to increase investment in digital technologies next year.
The outlook for Mexico and Latin America is also promising. A recent survey by MIT Technology Review Insights indicated that Latin American companies are the most enthusiastic about the use of artificial intelligence for decision-making purposes and over 90% of Mexican CEOs acknowledged the benefits of applications that use this technology.
To learn more about the fresh business opportunities, cutting-edge technologies and potential partnerships Industry 4.0 promises to bring with it, we invite you to visit the Industry Tunnel at Industrial Transformation Mexico 2019, the first Hannover Messe fair in Mexico and Latin America, on October 9-11 at Poliforum León, Guanajuato.
This is your chance to make a diagnosis of where your company is at in terms of Industry 4.0, hear real-life stories and specific examples of leading companies from all over the world that have come to realize their future growth depends on digitalization and the smart use of data; companies that are now reaping the benefits of turning their information into smarter decisions, better-designed products, services and systems, more efficient use of resources, the creation of new types of added value and an improved ability to predict future needs. Register today free of charge at our microsite https://industrialtransformation.mx/ to begin your journey toward Industry 4.0 at #ITM2019.
Project Director for Hannover Fairs Mexico