Overview
In previous industrial revolutions, manufacturing typically led the way when it came to adopting new technology. This was due to the high cost of the technology, its finite scope, and other factors. Now that we've entered what is designated as the Fourth Industrial Revolution (Industrie 4.0/Industry 4.0/I4.0), consumer adoption of new technology clearly appears to be outpacing manufacturing's adoption.
Technology is also rapidly outpacing industry's ability to adapt to it. Entrenched companies are stuck in old cultures with outdated mindsets. History proves repeatedly that companies slow to adapt will eventually disappear or be acquired by more agile companies. Today's technology democratizes opportunities traditionally withheld by barriers to entry like inadequate capital and/or expertise. As a result, developing nations are catching up and will prove to be formidable foes in developed markets.
From the Bleeding Edge
Traditionally, industry led the way in automation. It began with the first industrial revolution and the utilization of mechanization and harnessing of steam power during the late 1700s. Industrial labor went from being solely manual to machine-augmented. This revolution helped increase the standard of living for a rapidly growing human population.
The second industrial revolution saw the adoption of electricity in manufacturing, ushering in the “Gilded Age.”
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Keywords: Automation, Technology, DCS, SIS, Safety, Process Control, Culture, Industrie 4.0, Industry 4.0, I4.0, ARC Advisory Group.