Watch the full session and the Q&A here: https://ypo.vhx.tv/lap-s07-india-as-a-model-for-innovation-nov-2024

"Disruptive technologies are something that have to be mass adopted... Just by being connected to a system, you can save up to 3% of your costs, simply by managing energy during shift changes."

Takeaways:
• Industry 4.0 is Here: The fourth industrial revolution, driven by connected systems (IoT, big data, and cloud computing), is reshaping manufacturing. By connecting shop floors, companies can streamline processes, reduce energy costs, and improve efficiency.
• Automation and Robotics Are Becoming Affordable: Robots, once too costly for many companies, are now more affordable. This allows even smaller manufacturing facilities to adopt robotics for basic tasks, which enhances productivity and competitiveness.
• AI is an Emerging Tool, Not a Replacement: While AI can automate certain decisions and improve supply chain responsiveness, it’s far from fully replacing human roles on the shop floor. Its current role is supportive, helping with specific tasks like tool maintenance and supply chain optimization.
• Embedded Metrology for Quality Control: Incorporating metrology into the manufacturing process can improve quality and reduce costs by providing ongoing measurement and quality checks throughout production, rather than relying solely on human inspection.
• Sustainability is a Core Requirement: Sustainability isn’t optional for future manufacturing; companies must account for their carbon footprint across the entire supply chain, especially with policies like the EU’s carbon border adjustment mechanism, which taxes imports based on their carbon emissions.
• Upskilling the Workforce is Critical: To keep pace with technological advancements, manufacturers must invest in upskilling their workforce. Innovative training methods, such as VR-assisted training, can keep employees engaged and prepared for the demands of Industry 4.0.