As one of the world's leading manufacturing companies, Bosch strives to be both a lead provider and a lead user of Industry 4.0 technologies. Worldwide, the company has more than 70 Internet of Things (IoT) projects running in a variety of industries and applications.

Digitization, Industry 4.0 and the Industrial Internet of Things (IIOT) are buzzwords we hear quite often today. What do they mean for the wire processing industry? How will digitization affect our business, and how will we measure our performance?

Hackers are one of the biggest threats to digital factories and Industry 4.0 initiatives. If conveyors, fastening tools, robots and other equipment are not secure, state-of-the-art production technology can be rendered useless.

Factories of the future will feature advanced technology, such as additive manufacturing, artificial intelligence, augmented reality, data analytics and digital twins. While many manufacturers are still ramping up their Industry 4.0 initiatives, several assembly plants are already at the forefront. They are embracing the Fourth Industrial Revolution and reaping the benefits.

By now, anyone involved in the industrial sector has heard of the Factory of the Future. Those four words encompass an industrial utopia defined by increased productivity with reduced downtime, data transparency, previously-untapped levels of customization, improved safety capabilities, all boiling down to more profitable production processes.

More than 20,000 manufacturing professionals saw the newest robots, vision systems and motion control technologies during the 2019 Automate show and conference, which was held April 8-11 at McCormick Place in Chicago.

With wearable devices increasingly being used on the assembly line, it's definitely time to update the old expression that 'What you wear says a lot about you.' A more appropriate thing for manufacturers to now say about their assembly line workers is, 'What you wear tells us a lot about your productivity.'

By now, we've all heard the hype: The Industrial Internet of Things (IIoT) will fundamentally change manufacturing and offer a cornucopia of benefits, including increased efficiency, higher quality and more responsive supply chains.

Data analytics, augmented reality, generative design, artificial intelligence, cobots, additive manufacturing and other technologies are already helping manufacturers increase efficiency, reduce downtime, lower prices, differentiate themselves in the marketplace, and improve service, delivery and quality.

Businesses increasingly recognize the growth opportunities offered by digitalization and interconnectedness. These technologies are enabling new business models, efficient use of resources, and cost-effective production of highly customizable products. These developments are collectively referred to as "Industry 4.0."