This article was first published by The Times of Israel and is re-posted with permission.
Israel has the potential to become a major player in an increasingly connected world in what is being called the fourth industrial revolution, in which manufacturers are adopting innovative tools and cloud applications in order to stay competitive, according to a new report.
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In this development — also known as Industrial Internet of Things (IoT), I4, 4.0 or smart manufacturing — technologies are becoming cheaper, enabling manufacturers to shift their focus from making products in countries with cheap labor to bringing production back home but in a “smarter way.”
“This industry, I4, could be even bigger than auto-tech, as it touches manufacturing everywhere. The potential is endless,” said Guy Hilton, general manager of Start-Up Nation Central, a nonprofit organization that tracks Israel’s tech industry, in a statement released with the publication of its report.
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