The New Face of Industry

The Internet has provided access to information and communication, thus changing connectivity and life in general fundamentally. We are now in a period of another big transformation related to the Internet of Things (IoT) – no longer only for consumers and households but also for the industry. This technological dynamics leads to the appearance of a new generation of machines and the transformation of leading industries. IoT technologies are capable of changing production fundamentally, allowing it to increase productivity and efficiency.

Penetration

The number of devices connected to the Internet is growing at a global level. IoT solutions are being developed for the industry and businesses, including applications, hardware and technologies for system integration, data storage, security and connectivity. It is no coincidence that the Internet of Things is a key element in the new industrial revolution called Industry 4.0. The development of high-tech solutions in this sector will change not only the way people live, work, travel and have fun, but will affect the development of businesses and industry all over the world, and will transform cities as well.

Effect

We are moving towards a world where machines become more and more intelligent, they talk to each other and transmit information automatically. Thus, factories can be remotely monitored and managed.  Transparency is another key word that characterizes the effect of the appearance of the Industrial Internet of Things. The benefits are also related to process optimization, predictable maintenance, monitoring of assets, but also to better quality control.  

What are the particular benefits and the potential directions of development? We suggest three points of view on the subject:

Eng. Teodor Marinov, Head of Digital Factory & Process Industries and Drives Divisions, Siemens Bulgaria: Digitalization Is an Unprecedented Accelerator for Innovations

Georgi Yanev, partner at Dreamix and head of the IIoT unit of the company: Machines are already talking to each other

Iliyan Stoyanov, co-founder of 6lowpan.io: Autonomous systems with artificial intelligence eliminate personnel

Read More in Economy Magazine`s issue 83 - May/June 2018.