Everything you need to know about Productive 4.0

As Industry 4.0 is set to change the way manufacturers across the world operate, Productive 4.0 will make that transition as easy as possible.

Statwolf is one of 108 partners across 19 countries to be involved in the project, which has the goal of creating a best-in-class solution to help businesses take advantage of Industry 4.0 on as wide a scale as possible. It’s an honour to take part in its development and execution – and here’s all you need to know about it.

What is Productive 4.0?

Productive 4.0 is a consortium of some of the world’s most renowned companies and minds with one clear objective: Ushering in digital industry. The programme features a budget of €106 million and has a deadline of April 2020.

The initiative aims to develop best practices and technology for every aspect of Industry 4.0, ranging from digital architecture to automation and project management. In all, the strategy is broken down into 10 work packages.

Productive 4.0 features the likes of Philips, SEB, Ericsson, BMW and Volvo. Statwolf is honoured to be able to work with these industry leaders as we make our global contribution to technological advancement, and at the same time learn even more about artificial intelligence.

What is Statwolf’s role in Productive 4.0?

Our team is one of the project’s information technology partners, allowing us to collaborate with some of the best-known companies in the world.

Statwolf’s machine learning platform and predictive models are being put to the test as we try to help the group develop algorithms that will power Industry 4.0 for years to come. The data science in play will help businesses collect, process and drive insight from interactions between machinery, production and other areas of operation – otherwise known as the Internet of Things (IoT).

We’re involved in the internal development of a suite of machine learning technology that will be packaged with other tools to help organisations improve the functionality of their plant. Furthermore, these analytical models will help them institute cost-effective strategies like predictive maintenance that can positively impact the bottom line of any business, big or small.

How Productive 4.0 fits into the evolution of Statwolf

This is the fourth major European project that the founders of Statwolf are taking part in. The previous three gave the Statwolf founders a deep understanding of enabling companies to embrace digitisation:

“Productive 4.0 represents an opportunity to enrich our machine learning skills and competencies, share knowledge with market leaders and learn best data science practices across a variety of industrial sectors,” Gian Antonio Susto, Chief Data Scientist and Co-founder, said.

Furthermore, we’re able to provide the project with our state-of-the-art machine learning expertise, with the main objective of supporting companies across the world as they transition to what can seem like an uncertain future during a time where they look to reinforce their leading position against competitors.

Productive 4.0 fits with our goal of developing a future-proofed data science platform as our team is able to not only see the challenges that will affect businesses moving forward, but also to help develop a solution as well. The opportunity allows the StatwolfML solution to extend its collection and test case requirement, which will benefit end-users greatly.

Benefits of Industry 4.0

Six in every 10 companies that try to transition to Industry 4.0 have made poor progress in doing so, according to McKinsey & Company.

One major barrier many businesses run into is that they bite off more than they can chew. Without a centralised platform that makes adoption easier, organisations will continue to struggle with connecting a variety of disparate sources and components. Productive 4.0 aims to change that.

It’s for the better, as one report from Siemens UK found that Industry 4.0 could bring a bevy of benefits to the UK. It could:

  • Pump £445 billion into economy from the manufacturing sector alone.
  • Create nearly 175,000 new jobs.
  • Yield productivity improvements totalling 25 percent or higher.
  • Reduce CO2 emissions by 4.5 percent due to greater efficiency.

Big Data is one of the major reasons behind those positive impacts. It allows organisations granular visibility into practices that may not have had a method of evaluation beforehand, offering them the chance to redefine best practices for the better.

Welcome in the new era of Industry 4.0

The fundamental components of Productive 4.0 are already here. Artificially intelligent data science platforms powered by machine learning algorithms are helping businesses across the world implement predictive maintenance strategies and profit because of them.

Interested in learning more? Sign up for a free consultation or contact us to request a custom data science solution demo.

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