Industry 4.0 facilitates the vision and execution of a “Smart Factory”. Within the modular structured Smart Factories of Industry 4.0, cyber-physical systems monitor physical processes, create a virtual copy of the physical world and make decentralized decisions.
Imagine if our cities could talk—if they could give us live status updates on traffic patterns, pollution, parking spaces, water, power and light. Using ultra-low power sensors, wireless networks, and web and mobile-based applications, Smart Cities are becoming a reality.
INTERNET OF THINGS
Over the Internet of Things, cyber-physical systems communicate and cooperate with each other and with humans in real time, and via the Internet of Services, both internal and cross-organizational services are offered and utilized by participants of the value chain.
A connected car is a car that is equipped with internet access. This allows the car to share internet access with other devices both inside as well as outside the vehicle. Often, the car is also outfitted with special technologies that provide additional benefits to the driver.
Virtual reality is an artificial environment that is created with software and presented to the user in such a way that the user suspends belief and accepts it as a real environment. Virtual reality is primarily experienced through two of the five senses: sight and sound.
Financial technology is an economic industry composed of companies that use technology to make financial services more efficient. The nascent financial technology industry has seen rapid growth over the last few years.
Big Data has the potential to help companies improve operations and make faster, more intelligent decisions. This data, when captured, formatted, manipulated, stored and analyzed can help a company to gain useful insight to increase revenues.