Industry 4.0 and its suitability in Post COVID-19

Abstract

In the present era of technological advancement and rapid change, mankind faces different kinds of challenges. The product lifecycle has been shortened dramatically, and the manufacturing industry is moving from mass production to the high personalization of mass products. This era is widely known as the fourth industrial revolution or Industry 4.0 (I4.0). It seems that soon it will be inevitable for every society. The paper briefly focuses on empirical insights into the impact of I4.0 on various sectors of society. The traditional approaches to manufacturing, servicing, and public policy planning will no longer remain effective and would be transformed. I4.0 should be observed as an Opportunity 4.0 and draw attention to the industry, academia, and policymakers' in changing scenarios. Expectations from them are also underlined. Its favorable features in the post-COVID-19 era are also discussed. This short article invites attention to foresee beyond I4.0, e.g. Industry 5.0 and more such progressions. © 2022 World Scientific Publishing Co.