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How Industry 4.0 technologies are changing manufacturing

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Experts worldwide including Tolga Akcay give us an insight into the industry of the future.

Physical, digital, and biological barriers were generally known as the Fourth Industrial Revolution. Artificial intelligence, 3D printing, quantum computing, and other technologies tried to make it. It’s the driving force behind a slew of goods and services that are quickly becoming vital in today’s world. Consider voice-activated virtual assistants like Apple’s Siri, tailored Netflix suggestions, and Facebook’s ability to identify your face and tag you in a friend’s picture.

Tolga Akcay, entrepreneur, business consultant and author, has put his expertise on paper, releasing successful books: THE BLOCKCHAIN COMPASS – Welcome to the World of Blockchain and THE AI COMPASS – Welcome to the World of Artificial Intelligence.

The following work by the author THE FATE OF GLOBALIZATION – IN THE NEW WORLD ORDER (about the consequences of the War in Ukraine, Industry 4.0, Great Reset and the resulting changes in the global economy) is already arousing great excitement.

The Fourth Industrial Revolution is setting the path for dramatic changes in the way we live and fundamentally affecting practically every economic sector due to this perfect storm of technology. It’s all occurring at a breakneck speed (which is why Tolga Akcay is active as a professional business consultant for his clients to stay up with rapidly changing customer expectations).

Starting of Fourth Industrial Revolution?

While the Fourth Industrial Revolution (also known as Industry 4.0) is poised to transform society in unprecedented ways, therefore it comprises the foundations of the previous three industrial revolutions. The invention of the steam engine in the 18th century ushered in the first industrial revolution, enabling for the first time the mechanization of industry and driving social transformation as people grew more urbanized.

Electricity and other technological advances led to mass manufacturing during the second industrial revolution. Computers and digital technology were born during the third industrial revolution, which began in the 1950s. As a result, manufacturing has become more automated, causing upheaval in finance, energy, and communications.

Klaus Schwab, the founder and executive chairman of the World Economic Forum and author of the book The Fourth Industrial Revolution, was the one who coined the term new revolution to describe today’s developments. The 4th Industrial Revolution, like earlier revolutions, has the potential to boost global income levels and improve people’s quality of life all across the world.

Transportation and communication costs will decrease, logistics and global supply chains will improve, and trade costs will decrease, all of which will create new markets and spur economic development.

However, the news isn’t all rosy. Especially in its potential to disrupt labor markets, the revolution might lead to more inequality. Furthermore, the employment market may become increasingly divided between “low-skill/low-pay” and “high-skill/high-pay” jobs, thereby exacerbating societal conflict.

Basic IIoT Concepts and Glossary of Terms

The industrial internet of things, or industrial IoT, is a term that refers to the internet of items used in industry. It’s an industrial framework for connecting and synchronizing many equipment and devices.

Software and third-platform technology advancements are essential to IIoT’s involvement in Industry 4.0.

As a result of the IIoT, more devices now have embedded computers. It allows devices to communicate and collaborate with other devices and regulators. Decentralized analytics and decision-making are the results.

The IIoT allows for real-time replies. When water levels reach a specific equilibrium, linked hot tubs order additional bromine, and pipes shut off when pressure climbs.

The most straightforward method to comprehend the Fourth Industrial Revolution is concentrating on the technology that drives it. The following are some of them:

Blockchain Technology

Blockchain is a decentralized, secure, and transparent method of recording and distributing data that does not need the use of third-party intermediaries. The most well-known Blockchain application is the digital currency Bitcoin. Other applications for the technique include making supply chains traceable, anonymously safeguarding sensitive medical data, and preventing voting fraud.

Artificial Intelligence

Artificial intelligence (AI) refers to computers that can “think” like humans. They can recognize complicated patterns, process data, draw conclusions, and make suggestions. AI is available in various applications, from detecting patterns in large amounts of unstructured data to powering your phone’s autocorrect.

Environmental Protection or Cyber Attacks

Industry 4.0 promotes connection and the use of industry-standard communications protocols. This connection requires safe, dependable communications, advanced machine access control, and user identification verification.

On the other hand, increased connectivity has resulted in a rise in cybercrime risks to critical industrial systems and production lines. As a result of Industry 4.0, attackers are increasingly targeting the industrial and energy industries. Cyber attackers will traverse across a manufacturing network to carry out destructive actions, bouncing between IT and OT systems.

Without sufficient safeguards, malicious individuals exploit systems for:

  • intellectual-property theft
  • production sabotage
  • industrial espionage
  • IP leakage

The recent hacking of Colonial Pipeline is an example of how cybercriminals may cause significant damage.

Sustainability

Regarding sustainability advantages (zero impact—lower-cost—social fairness), the introduction of Industry 4.0 presents the possibility of connecting technology with resources and talents. Based on the availability of footprint data and verifiable analysis, Industry 4.0 may lower the environmental effect, a process, or a service.

It also aids in leveraging improved function efficiency, such as resource consumption reduction. As a result, Industry 4.0 might help establish digitally sustainable operations that help achieve the SDGs. Furthermore, the advancement of innovative technology expects to impact sustainability.

Industry 4.0’s potential remains untapped, as does its influence on other sectors such as socio-environmental sustainability and the creation of prospects for Industry 4.0 realization via intelligent systems.

Business consulting

Industry 4.0 refers to the present state of data and automation interchange in manufacturing goods for use or sale employing machines, tools, and other equipment. The internet of things (IoT), cognitive computing, and cloud computing are all part of it. A smart factory is another name for it. Thanks to this technology, cyber-physical systems can collaborate and interact with people in real time.

Some businesses attempt to adapt to new technology, while others fail to educate themselves on recent advancements and so lose out on the possibility to lead the transformation. They do not adapt to the shifting technological scene. A firm that has begun this transformational path can compete successfully in the market while lowering expenses and increasing profits.

Global trade

The Industrial Revolution idea came up with Britain’s success in international commerce, which resulted in a high-wage, low-energy economy. High salaries and affordable energy fostered a need for technologies that might replace labor with capital and power. These incentives are available in a wide range of sectors.

About Tolga Akcay

Tolga Akcay is a successful business consultant, entrepreneur, and expert in the disciplines of digitalization, Blockchain technology, artificial intelligence (AI) and an author.

He studied business administration and earned a master’s degree in corporate management earlier in his career. After that, he received training in Germany and the United States, specializing in digitization, artificial intelligence, and blockchain technology in order to continue his business career. Currently, he works closely with business owners and managers in Europe, USA, and China to improve operations and efficiencies.

Conclusion

The primary promise of “industry 4.0” is both intriguing and stunning. It is supplying the industry with a revolution in digital system improvement. The benefits of an Industry 4.0 model may outweigh the concerns raised by many manufacturing facilities. The health and safety of human employees significantly improved in high-risk working conditions. When data is available at every production and distribution chain level, supply chains are more readily defined. Computer control might lead to much more consistent and safe production and productivity. Many firms might benefit from increased sales, profitability, and market share.

Aakash Kumar Jha is one of the youngest Digital Entrepreneur with over 06 Years of experience in Digital Sector.

BUSINESS

Empowering Women in Dubai’s Real Estate Market: The Vision and Journey of Leedwells Real Estate and Boon Stay

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In the dynamic and competitive real estate market of Dubai, where male dominance has traditionally been the norm, a new wave of female empowerment is making significant strides. Among the frontrunners of this movement is Leedwells Real Estate, a company established in 2021 with a mission to revolutionize the property market. Recently, in 2024, they expanded their vision with the launch of Boon Stay, a company dedicated to the holiday home concept. Together, these sister companies are committed to fostering a more inclusive and diverse industry.

Leedwells Real Estate: A Clear Vision for Real Estate

Founded in 2021, Leedwells Real Estate has consistently demonstrated excellence in the property market, leveraging over 12 years of industry experience. Led by CEO Aman Kaur and Managing Director Arshe Noor, Leedwells Real Estate has solidified its reputation as a reliable and innovative real estate agency in Dubai. Their dedication to client satisfaction and market expertise ensures that clients receive personalized services tailored to their unique needs.

Championing Women Empowerment

In an industry largely dominated by male professionals, Leedwells Real Estate stands out for its commitment to empowering women. Aman Kaur and Arshe Noor recognize the success and contributions of numerous female professionals in the real estate sector. By promoting diversity and inclusion, they aim to pave the way for more women to achieve remarkable milestones in their careers.

Expanding Horizons: Boon Stay

Building on the success of Leedwells Real Estate, Aman Kaur and Arshe Noor launched Boon Stay in 2024 to address the growing demand for holiday homes in Dubai. Recognizing the city as a global travel hub, Boon Stay offers a comprehensive platform where travelers can find luxurious accommodations and curated experiences. The company’s approach mirrors popular services like Airbnb, but with a distinctive focus on luxury and personalized service.

Boon Stay’s unique business model not only caters to holidaymakers but also serves investors looking to capitalize on Dubai’s lucrative real estate market. The company offers comprehensive investment opportunities, enabling clients to generate substantial revenue through strategic property investments. This dual approach of catering to both travelers and investors sets Boon Stay apart in the competitive landscape.

A Holistic Experience

For visitors to Dubai, Boon Stay promises a seamless and luxurious experience. From arranging premium accommodations to organizing bespoke luxury trips, the company ensures that every aspect of the client’s stay is meticulously handled. This all-encompassing service guarantees a memorable and stress-free holiday, allowing guests to fully immerse themselves in the vibrant culture and opulence of Dubai.

Future Prospects

As Leedwells Real Estate and Boon Stay continue to expand, their vision remains clear: to create a more diverse, inclusive, and successful real estate market in Dubai. By empowering women and providing unparalleled services to both travelers and investors, these companies are set to redefine industry standards and contribute to Dubai’s reputation as a premier destination for real estate and luxury living.

In conclusion, Leedwells Real Estate and Boon Stay exemplify the transformative power of diversity and innovation in Dubai’s real estate market. Through the unwavering commitment of Aman Kaur and Arshe Noor to excellence and empowerment, they are not only achieving remarkable growth but also inspiring a new generation of female leaders in the industry.

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Entrepreneurs

The WittyFeed Triumph: Vinay Singhal, Parveen Singhal, and Shashank Vaishnav’s Journey to Content Dominance

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Vinay Singhal, Parveen Singhal, and Shashank Vaishnav have created a stunning success story with WittyFeed in the digital world, where content is king. Rising from the ashes of failed businesses, these computer experts changed course and built the second-largest content platform globally, only surpassed by BuzzFeed. This piece explores the story of these visionary founders and how WittyFeed rose to prominence in the content industry.

In 2013, faced with the setbacks of two unsuccessful ventures, Vinay, Parveen, and Shashank decided to stay the course. Ditching Evrystry.com and FollowMe247, they envisioned a content platform that catered to the needs of content creators, distributors, and consumers. This vision materialized in September 2014 with the launch of WittyFeed—a platform that rapidly ascended the ranks to become the third-most visited website in the Indian entertainment category.

For Vinay Singhal, WittyFeed is not just a content platform; it’s a technology play. Leveraging robust technology and analytics, WittyFeed ensures its content goes viral by intricately guiding content selection, creation, distribution, and monetization. Real-time data analysis and insights into user behavior empower thousands of influencers to disseminate content, making WittyFeed a formidable player in the global content arena.

WittyFeed’s strategic foresight extends to its strong network of influencers, positioning the platform years ahead of its competitors. Recognizing influencers as the distributors in the digital world, WittyFeed created Viral9.com—an influencer platform with around 15,000 influencers. These influencers, with millions of followers, redirect traffic to WittyFeed, creating a symbiotic relationship that propels the platform’s reach.

WittyFeed’s impact transcends borders, with a presence in Spain, the US, and the UK, while rapidly gaining traction in India. The platform boasts over 100 million sessions and 60 million unique visitors monthly, generating revenues of ₹30 crore in FY17. Programmatic advertising forms a significant revenue stream, complemented by sponsored content collaborations with around 70 brands, including Uber, Coca-Cola, and Zee Studios. By endearing itself to brands, WittyFeed aims to derive 40 percent of its revenues from brand partnerships.

While WittyFeed has thrived, the platform remains vigilant about potential challenges, especially as Facebook’s algorithms evolve. Vinay emphasizes the importance of steering clear of click-bait and focusing on quality content to maintain a symbiotic relationship with Facebook. Future strategies include the integration of video content, fostering collaborations with mobile apps, and seeking a series A funding round for expansion.

The success of WittyFeed lies in the synergy of its founders—Parveen Singhal, Vinay Singhal, and Shashank Vaishnav. Parveen, the Chief Content Officer, envisions video content as the next growth frontier. Vinay, with a knack for building solutions, steers the technology-driven aspects, while Shashank, the Chief Technology Officer, brings real-time data analytics to the forefront.

As WittyFeed charts a course toward greater heights, its founders remain attuned to the evolving nature of digital consumption. Vinay Singhal encapsulates the essence of their journey, emphasizing the imperative of staying at the forefront of change. The triumvirate’s journey from the brink of failure to commanding one of the world’s largest content platforms is not just a success story; it’s a testament to resilience, innovation, and the power of strategic vision. In an ever-evolving digital landscape, WittyFeed and its founders stand poised for continued impact and influence.

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Entrepreneurs

Rahul Narang and Saurabh Arora: Architects of Healthcare Transformation at Lybrate

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Rahul Narang and Saurabh Arora‘s combined genius is evident in the rapidly changing field of healthcare innovation as they lead Lybrate, a ground-breaking online platform for medical consultations. The story takes place against the backdrop of Saurabh Arora, who attended Columbia Business School and IIT Delhi before purposefully changing his course. 2014 saw Arora leave his position as a data scientist at Facebook in Silicon Valley in order to pursue his homegrown business goals. This crucial choice launched Lybrate in 2015, a platform that has the potential to completely transform patient-doctor relations.

Arora’s vision for Lybrate germinated during a visit to India, where he keenly observed the challenges posed by self-medication in rural areas and the inconveniences faced by urban denizens. Fueled by a determination to bridge these gaps, Arora enlisted the expertise of his former colleague and friend, Rahul Narang, who assumed the role of co-founder and chief technology officer at Lybrate.

The platform, operating as an online out-patient department (OPD), strategically deploys technology to enhance the accessibility of quality healthcare across India. Arora’s mission was to seamlessly connect patients and doctors, transcending geographical constraints. In less than three years, Lybrate has garnered over 1 lakh registered doctors, facilitating upwards of 6 million interactions monthly. These interactions span doctor searches, health queries, and appointments for consultations and lab tests.

The triumph of Lybrate can be attributed to its innovative approach and meticulous planning. Arora underscores the critical importance of aligning the product with the workflow of doctors, fostering positive word-of-mouth recommendations. The nascent stages involved securing funding, with Gokul Rajaram, a luminary in developing Google’s AdSense network, playing a pivotal role. Lybrate secured a seed round of $1.23 million from Nexus Venture Partners, Rajaram, and independent investor Vispi Daver in August 2014. A subsequent funding round in July 2015 saw a commitment of $10.2 million from Tiger Global, Nexus Venture Partners, and Ratan Tata, propelling Lybrate’s mission to new heights.

The healthcare landscape in India presents a formidable challenge, marked by a concerning doctor-patient ratio of 1:1,700, as highlighted by a joint report from KPMG and Ficci. What sets Lybrate apart is its unwavering focus on alleviating the doctor shortage. The platform’s workflow begins with anonymous health-related queries from patients, evolving into online or offline consultations as comfort levels with the doctors on the platform grow.

Lybrate’s distinctive patient engagement model places the patient at the center, offering access to a comprehensive spectrum of healthcare services. This strategic differentiator positions Lybrate favorably against Practo, its major competitor, which primarily functions as a doctor discovery platform. While Practo concentrates on appointment scheduling, Lybrate is committed to transforming the patient-doctor interaction and propelling it into the digital realm.

Despite the myriad challenges, Lybrate has achieved a commendable turnover of over ₹22.45 crore in FY15-16, with aspirations to reach ₹25 crore in the current fiscal year. The platform boasts various revenue streams, including ‘Lybrate Consult,’ allowing users to consult preferred doctors for a fee. ‘Lybrate Lab+’ and ‘Lybrate Cube’ contribute significantly to the company’s revenue by facilitating lab tests and providing tools for doctors to enhance their online presence.

As the health tech industry witnesses an influx of competitors, Lybrate’s early entry into the fray positions it as a frontrunner. However, challenges persist, and success in this dynamic landscape hinges on delivering a substantial value proposition for both patients and doctors. The journey of Rahul Narang and Saurabh Arora with Lybrate symbolizes a commitment to quality and innovation, marking the advent of a new era in online healthcare solutions.

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