Many countries are already embracing Industry 4.0 at a high level in an effort to future-proof their manufacturing industries. Credit: ShutterstockBusinesses are adapting their strategies in response to the Covid-19 fallout. Pre-pandemic, Industry 4.0 and its many technological advances was often cast under the umbrella of ‘nice to have’ as opposed to ‘essential to operations’. However, with capacity in factories lowered and disruptions to supply chains causing productivity slowdown, companies are now looking for innovative insurance policies. Many of these take the form of technologies such as automated workforces and AI. As companies’ focuses shift from survival to recovery and then eventually establishing a ‘new normal’, decision makers are exploring how Industry 4.0’s capabilities could have reduced the impact Covid-19 had on their operations – and how to implement them into their future operations.
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