As the world continues to rapidly adapt to modern solutions, industries also open themselves to potential digital risks. CONTRIBUTED PHOTO
AS the world continues to shift toward the digital age, terms such as Industry 4.0, Industrial Internet of Things (IIoT) and smart manufacturing are no longer just buzzwords but are modern solutions many industries are integrating into their operations.
A 2021 McKinsey & Company survey indicates that 94 percent of respondents from global manufacturing companies were able to keep their operations running during the pandemic, attributing this achievement to Industry 4.0. More than half of them also said technologies had been crucial in responding to the situation.
With the rapid acceleration in the digitization of the supply chain predicated by the Covid-19 pandemic, recent studies show that we have vaulted five years forward in digital business adoption, with manufacturers actively developing plans for “lights out” factories and supply chains.
In the Philippines, whose goal is to rank 43rd in the World Intellectual Property Organization’s Global Innovation Index…
