The Internet of things
How digitization revolutionizes the economy and society
For the past few years, the Internet of Things and Industry 4.0 has been a very popular issue, but only a few companies take advantage of the fourth industrial revolution. The German industry is facing a fundamental change since the introduction of the production line or the computer. The premise of the internet of things seems to be simple. Industries, companies, machines, devices and humans are connected and are able to communicate with each other. This means a complete change in the economic world offering in combination with systems, which have artifi cial intelligence, many new chances for companies as for example new jobs, business models and a lean and automated production.
In the era of Industry 4.0, robots are able to order supplies automatically and to fi x a maintenance date. This is only an example for successfully changed business models, but in total, the economic benefit is obvious. This is only one benefi t for the digitization on the production level. Seen in total, the high economic value is becoming apparent. According to research by the Ministry of Economy and Energy, the implementation of Industry 4.0 will mean business growth of up to 153 billion Euros, with investments of 40 billion Euros. 83 percent of respondents expect a high degree of digitization of their supply chains.
Recognizing and exploiting entrepreneurial chances
To achieve the necessary degree of digitization, it is not suffi cient to simply implement software or automate processes, but to change production facilities and even corporate culture from the ground up – a fundamental change, which Mitsubishi Electric has not only recognized, but of which it is a pioneer. As one of the few companies, it offers the complete range of industrial automation, thereby supporting organizations’ transformation in many areas.
Realizing the change with technologies by Mitsubishi Electric
The advantages of these solutions are evident. They enable companies to develop innovative, safe and fl exible solutions and services to gain a competitive advantage and to increase sales and revenues. In doing so, Mitsubishi Electric provides its customers expertise and support concerning Industry 4.0. Today, tomorrow and in future.