Industry 4.0 – Digital Transformation, Challenges and Benefits

Abstract

The purpose of this paper is to study the basics of Industry 4.0, the trend towards automation and data
exchange in manufacturing technologies and processes. This paper highlights the strategic roadmap that
can serve manufacturers as a simple guide for the process of Industry 4.0 transition.
Digital technology has transformed the industrial and manufacturing world. To keep pace with the fastgrowing technological enhancements accompanying Industry 4.0, there is a great need to evolve and
change the way we work. We now stand on the crossover of this new era, where machines acquire human
characteristics, including cognitive capabilities. Therefore, the question is - Are we ready for Industry 4.0?
In addition, what are the challenges that we will face in the near future?