The emerging development in industrial technology for automation and data
sharing is known as Industry 4.0. It incorporates the Internet of Things, Cyber-physical
systems, and Cloud computing, all of which contribute to the development of a “smart
factory”. Customers, distributors, vendors, and stakeholders in the supply chain would
be capable of connecting and can exchange data easily through Industry 4.0. The
COVID-19 pandemic is quickly spreading and posing a threat to people all over the
world. Employment and activities in all markets have been disrupted, putting
economies all over the world in serious jeopardy. To combat the pandemic, retailers
will benefit from Industry 4.0 because it will help to mitigate the impact of identified
risks. I4.0 executives were focused on gaining a competitive edge, rising efficiency,
lowering prices, and, ensuring profitability as their primary aim was to enhance the
productivity of business during the time before the COVID-19 crisis. Our Government
has imposed new behavioral trends including social distancing, isolation and,
lockdown. The Government needs additional financial resources to combat pandemics
as a result of these actions, there has been a global economic slowdown. This chapter
enlightens the significance and technologies of Industry 4.0, showing how those
technologies and applications help in attaining a better society. It also explains how
Industry 4.0 helps in accomplishing sustainable manufacturing and the management
tactics it used to boost the company's efficiency, as well as the effects of COVID-19.
Keywords: Artificial Intelligence, Automation, Bigdata Analytics, COVID-19, Customer, Cloud Computing, Cybersecurity, Digital Manufacturing, Government, Global Economy, Industry4.0, Internet of Things, Manufacturers, Pandemic, Robots, Retailers, Supply Chain, Sustainable Manufacturing, Technologies, Virtualization.
