The big terms and what they mean to your business

Industry 4.0—also called the Fourth Industrial Revolution or 4IR—is the next phase in the digitisation of the manufacturing sector, driven by disruptive trends including the rise of data and connectivity, analytics, human-machine interaction, and improvements in robotics.

Although this wave of change began in the mid-2010s, many organisations are still struggling to adopt it or make the break to transform their processes. The risk associated with this? Competitors may be stealing a march to more efficient ways of working, and lower costs of production and services.

In recent research, McKinsey looks at the key definitions, and the advantages for business of the Forth Industrial Revolution.

▶ Read more.