Introduction:
The Fourth Industrial Revolution (4IR) is here, and Africa has been left behind in the previous Industrial revolutions. Many of us tend to wonder, will this time be different? The 4IR is characterised by the fusion of the digital, biological, and physical worlds and the utilization of new technologies such as artificial intelligence, cloud computing, robotics, 3D printing, the Internet of Things, and blockchain, among others.
The Internet of Things is a system of interconnected computing devices, machines and objects, with data automatically transferred over a network. IoT remains a pillar of the 4IR, enabling industries to be more responsive and efficient with their resources and identifying areas for improvement. This technological advancement is greatly impacting economies and industries, and we will look at some ways this is taking place.
1. Changing Business Models
IoT has enabled industries, especially in the manufacturing sector, to transform their business models and make them better digitally. When connected to the internet, products become an asset that can be remotely monitored. This facilitates companies in understanding the use of their assets along with predicting the maintenance. When managers are aware of system flaws in advance, they can take the necessary steps to lessen the severe effects. Based on the reliable data gathered and analyzed through IoT, companies can better understand the risk and financial exposure; furthermore, they can even establish service-based contracts with service-level agreements.
2. Connectivity of Devices
The connectivity of devices in the 4IR has been improved due to IoT. Connectivity is required even in less accessible places, which has been enabled by the use of power-efficient sensors, cloud-based analytics, and 4G and 5G cellular networks. It is predicted that by 2030, there will be more than 50 billion connected devices ranging from smart industrial machines to kitchen appliances. This indicates that a lot of data will be gathered through these devices, and the analyses of the collected data can help identify the users’ preferences, behaviour, risk patterns and product usage, enabling the companies to improve their products or services accordingly.
3. Self-Driving Cars
Autonomous vehicles are growing in popularity and are expected to be part of the 4IR. A wide range of IoT sensors are installed in self-driving cars to perceive their environments and, after analyzing the collected data, enable the car to act accordingly. These self-driving cars not only optimize people's safety and cost but also hold the potential to reduce damage to goods. The future of transportation and logistics is found to be self-sustainable within Industry 4.0.
4. Smart Factories
The Industrial Internet of Things(IIoT) is propelling the concept of smart factories, which aims to make production environments automated and intelligent. All the operations in smart factories are powered by IoT, AI, data analytics, etc., and this is all possible due to the exchange of data between the technology elements. This makes the operations more efficient than ever and saves operational costs.
5. Cobots
Collaborative robots or cobots highlight the concept of human and machine integration in delivering the manufacturing outcome. The 4IR is all about automation, and cobots are specifically designed to work simultaneously with humans, operating systems and fellow machines to deliver the most productive outcomes. This has been made possible through the exchange of data through IoT.
6. Smart Mobility
The introduction of 4IR and IoT has significantly impacted urban transportation, and current trends aim to provide more intelligent, smooth, and autonomous travel. Currently, 4IR is bringing the four most important trends in mobility. These include smart payment, smart booking system, smart multichannel customer service and smart mobility infrastructure, all powered by IoT technology.
Conclusion
In conclusion, the Fourth Industrial Revolution (4IR) presents a transformative opportunity for Africa to leapfrog previous industrial gaps by embracing technologies like the Internet of Things (IoT). While challenges remain, the potential for Africa to harness these advancements for economic growth is endless. By investing in the technology, we can position ourselves not only to participate but also to drive the 4IR. As GOAT Technologies, that is something we aim for this continent.