Business 4.0: A New Business Model for Industry 4.0
It’s the beginning of 2021, and we’re right at the brink of the Fourth Industrial Revolution, which we like to call “Industry 4.0”. With increased automation, utilization of artificial intelligence (AI) and machine learning (ML), the emergence of the Internet of Things (IoT) and expectations of 5G services, Industry 4.0 has become the new reality. How has this affected business? How are these technological advances influencing industries such as telco and IT, and their ways of working?
Business as usual?
With every industrial revolution come business changes, and Industry 4.0 will be no different. In 2021, it will bring a new business model – Business 4.0 – which will most likely be the hot topic of the year.
“Business 4.0 will be a new business model that emerges from Industry 4.0. In this concept, where everything is connected, businesses will have to be more united as well. It is not only about utilizing new technologies, such as the IoT, 5G, AI, ML, etc. – it’s about bringing a new business model to life. This business model will be all about cooperation and togetherness.”
source: 2021 Telecom Predictions Ebook
In Business 4.0, connectivity is the key
The new business model will revolutionize the way digital/communication service providers work as it will dramatically change their services. Complex, highly distributed infrastructure, multiple devices and networks, new disruptive technologies and innovative services – these all drive change in business operations.
Industry 4.0 business model will impose a new way of working, one that is remote, distributed, automated, and, above all, connected. Organizations from different industries and sectors will need to cooperate more closely than ever. As their services will change, so will their cooperation. Everyone will be dependent on everyone else.
Security and separation will be crucial
In all this connectiveness, it will be important to keep businesses secure and separate. Secure communication and cooperation will be the key to succeeding. As there will no more be isolated businesses that can depend only on themselves, security will safeguard the chain reaction.
Business 4.0 use case example
This may sound a bit complicated. So, to put it simply, let’s think about an example from our telco field. In Business 4.0, one telecom (T1) may provide a network for many others. Another one (T2) provides optical fiber. Many other telcos (TX) use the network and the infrastructure in order to provide different services to their customers. All of those CSPs – T1, T2, TX - are connected. But at the same time, they all need to stay separated and secure in order to protect their customers and their business. Their commercial value and intellectual property must stay secure.
As you can see, Industry 4.0 and the new business model that it entails provide communication/digital service providers with fresh challenges, but also many benefits. And it is in this year that operators should take a hard look at this concept.
Would you like to discover more expert predictions for 2021? Download our free ebook here and learn what the future holds.