Industry 4.0 – A New Futuristic Technological Revolution A Catalyst of Innovation & Entrepreneurship in Creation of Enterprises
Devesh Rath1, Ipseeta Satpathy2, B. C. M. Patnaik3
1Devesh Rath, Research Scholar, KSOM, KIIT University, Bhubaneswar, Odisha, India.
2Dr. Ipseeta Satpathy, Senior Professor, KSOM, KIIT University, Bhubaneswar, Odisha, India.
3Dr. B.C.M.Patnaik, Professor, KSOM, KIIT University, Bhubaneswar, Odisha, India.
Manuscript received on October 14, 2019. | Revised Manuscript received on 22 October, 2019. | Manuscript published on November 10, 2019. | PP: 4384-4390 | Volume-9 Issue-1, November 2019. | Retrieval Number: A5074119119/2019©BEIESP | DOI: 10.35940/ijitee.A5074.119119
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© The Authors. Blue Eyes Intelligence Engineering and Sciences Publication (BEIESP). This is an open access article under the CC-BY-NC-ND license (http://creativecommons.org/licenses/by-nc-nd/4.0/)
Abstract: Industrialization is the crucial arm of an economy which is a dream for every single country on the globe. The theoretical term Industry 4.0 or Smart Factory delineates a societal and basic man comprehension of computerized innovative (digitalization) patterns which further subdivides the accompanying arrangements into Mobile gadgets, Internet of Things (IoT) stages, Location discovery advances, Advanced human-machine interfaces, Authentication and extortion identification, 3D printing, Smart sensors, Big information investigation and propelled calculations, Multilevel client communication and client profiling, Augmented reality / wearables, Cloud registering, haze figuring, man-made consciousness, AI, mechanical autonomy computerization and so forth. This paper manages the investigation of various parts of Industry 4.0 with it’s entomb connection with advancement and business cultivating towards big business manifestations and upgrade of worldwide economy through innovative intercessions.
Keywords: Industry 4.0, Smart Factory, I4, Industrialization, Entrepreneurship, Innovation, IoT, Big Data, Machine Learning, Cyber Physical Systems, Automation, Robots, Artificial Intelligence, Augmented Reality, Wearables, Digitalization.
Scope of the Article: Machine Learning