The Fourth Industrial Revolution. Industry 4.0. No matter what you call it, digital technology has upended the way automakers and suppliers do business.
Daimler AG's Mercedes-Benz has defined Industry 4.0 as "networking the entire automotive value chain — from design, through production, to sales and service."
Boston Consulting Group has identified nine technologies that are driving Industry 4.0:
• Additive manufacturing.
• Augmented reality.
• Autonomous robots.
• Big data and analytics.
• The cloud.
• Horizontal and vertical system integration.
• The Industrial Internet of Things.
Here are some of the ways the industry has incorporated these innovations: