Industry 4.0 and the Internet-of-Things (IoT): Learning from the German Chemical Industry

Industry 4.0 and the Internet-of-Things (IoT): Learning from the German Chemical Industry

At a recent conference organized by the VCW, experts discussed the impact of the IoT on the chemical industry. The IoT connects machines or objects, allowing for machine-to-machine data exchange and creating new structures for processes and value creation. However, the chemical industry is slow in realizing the potential of the IoT, with many overestimating the related threats and underestimating the benefits. Successful implementation of the IoT will critically depend on the company's ability to communicate within the company and its ecosystems up and down the value chain.

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