The IoT (Internet of Things), the convergence of IT and OT, rapid application development, digital twin simulation models, cyber-physical systems, advanced robotics and cobots, additive manufacturing, autonomous production, consistent engineering across the entire value chain, thorough data collection and provisioning, horizontal and vertical integration, cloud computing, big data analytics, AR/VR and edge computing amidst a shift of intelligence towards the edge: these are some of the essential components of the fourth industrial revolution.
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