Industry 4.0. – The latest industrial revolution at modern times. In order to cope up with this revolution industries MUST adopt digital transformation (or digitalization) for survival through economic, financial and technological changes human civilization has been going through for last couple of decades. Digital transformation is no more an option; it’s now MUST for survival; otherwise industries will be abolished.
Digitalization is so far the broadest umbrella term for engineering and technologies that encompasses Electronic, Information and Communication Technologies. It’s all about automating business process towards increased efficiency, reliability and availability of complete business system.
Digital Transformation has two aspects. One, business process transformation with the help of electronic technology and ICT. Other, modernization of existing and legacy digital system in order to achieve target business transformation. It encompasses IOT, RPA, IT, IT infrastructure modernization, application modernization and product modernization, AI/ML, AR/VR, Data Analytics, Bigdata, Blockchain, etc.