INDUSTRY 4.0 IN THE SHIPPING INDUSTRY: CHALLENGES AND PREPAREDNESS – THE PREVAILING SCENARIO

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Date : 22-07-2019

Introduction

The rapid and inexorable rise in the 1990s of the internet, networking, and digital communication, which, in aggregate, represents ‘cyberspace’, has produced startling and indelible changes in almost all aspects of modern life. The accelerated growth of cyberspace has given birth to a new industrial revolution, often called the ‘Fourth Industrial Revolution’.  In this revolution, which is an ongoing one, industry is experiencing a distinct movement towards digitalisation, automation and data-exchange, in both, the secondary and the tertiary sectors.  In the continuing effort to create a holistic and better-connected ecosystem, this phase in the industrial landscape, which focuses intensely on interconnectivity, machine learning, and real-time data, has resulted in a sharp enhancement in productivity and has been branded ‘Industry 4.0’.  In recent times, the concept of Industry 4.0 has been deployed in the global shipping industry, too, and has led to the development of an ecosystem that is increasingly being defined by the Internet of Things (IoT), for the shipping industry to manage navigation and operations, through computers.   Read More

Department: Making Waves