Industry 4.0 – the networked factory

The Internet of Things. While handmade goods are currently enjoying a comeback, business is preparing for the fourth industrial revolution. This time, the upheaval will be in the world of work and production. The world it envisages is one ruled by the networked, autonomous factory, in which products and machines communicate virtually, increasing efficiency and productivity. The ultimate goal is automated, customized single-unit manufacturing. Human workers will not become superfluous, but their role will involve less physical and more brain work – in planning, control and monitoring. German companies – already key players in mechanical and electrical engineering as well as information and communication technology – have excellent chances of being at the forefront of this development.