Industry 4-0 originated in Germany. It has touched all businesses — big and small and has become a global phenomenon. There is connectedness of business and customers and it is increasing. The capabilities of analytics and business intelligence are advancing. There is machine human interface and a potential for inter-operability. Digital technologies reduce costs and enhance revenues. The safety for workers has increased. There are reduced risks and human errors. All this creates a strong case for integration with digital ecosystem.

Industry 4.0 will increase the contribution of industry to GDP from the current 15% to 25%. Industry 4.0 will impact SMEs too, as 40 per cent workforce is accounted for by it.

The successful transition to industry 4.0 depends upon adoptation to digital technologies and culture and adoption of design thinking. Instead of workshop in silos, we have to learn to collaborate. The collaboration extends to various functions within the organisation and across the organisational boundaries.