Top 5 Smart Factory Technologies

There are a LOT of different smart factory technologies out there. This is just a partial list: Industrial Internet of Things, Augmented Reality / Virtual Reality, Predictive Solutions, Digital Twins, Cloud, Blockchain, Artificial Intelligence / Machine Learning, Big Data Storage, Data Mining, and Remote Maintenance. And that’s just the software side of things!
In this webinar, I talked about the value to manufacturing provided by each of these solutions and more. I’ll also talk about which ones are foundational and set the stage for others. In the end, I put forth a top five list of technologies to get your company started with its smart factory transformation. I also list out some of the top technologies that don't make the list.

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Agree with the choices? Disagree? Let us know in the comments!

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Adam Smith goes on to say he visited a pin factory employing 10 men who produced 48,000 pins per day. If ten workers did every step themselves, Smith says they could each produce 10 or 20 pins per day. So the pin factory replaces up to 4,800 pin makers.
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The Scottish economist and moral philosopher's landmark treatise, The Wealth of Nations (1776), is relevant today not only because it makes a still pertinent and compelling case for free trade, low taxes, and the “invisible hand” of the marketplace.
Source: Independent Institute

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Adam Smith is often identified as the father of modern capitalism. 1:16