Industry 4.0 Risks and Challenges – Survey

Abstract

In the fast-growing competitive world, many global pressures are kept around us to improve work processes and system procedures. Industry 4.0 is a modern concept recently used in many application areas worldwide. Many organizations still need help implementing new technologies successfully; for example, Industry Week reports that two out of every three enterprises fail when digital manufacturing solutions are piloted on a wide scale. Artificial intelligence and edge IoT are critical for speeding up factory transformation. But what will enable businesses to move past the pilot stage and encourage a quicker uptake of these technologies? When implementing technology meant to automate production processes, manufacturers embracing Industry 4.0 techniques confront challenges. High costs are typical, particularly for small and midsized companies that could find investing in new machinery, sensors, and software challenging. Plant workers must be more competent to manage cyber-physical production systems, operate portable computers, or modify procedures based on software suggestions. Furthermore, manufacturers could need to fill positions for data scientists, engineers, and software developers, for which there may need to be more qualified applicants. Beyond money and staff, there are other challenges. Networks and machinery may become targets for cyberattacks or data breaches when Industry 4.0 technologies are incorporated into production. An endeavour has been undertaken to gather survey data to understand Industry 4.0's obstacles and challenges better.