Industry news

  • 2 May 2017 12:00 AM | Anonymous

    In a bid to tap into the product-driven global network, Sri Lanka is mulling expanding its Free Trade Agreements (FTAs) with top markets in Europe. He pointed out that if Sri Lanka could sign an FTA with the EU, then the country could continue to enjoy the advantages of GSP+ trade facilitation. Read the full story here.

    Related news: Sri Lanka Attracts Big Investors, Sri Lanka Explores Digital Identity Council

  • 27 Apr 2017 12:00 AM | Anonymous

    UK tech firm, TransferWise is expanding in the Asia Pacific region as the unicorn firm looks to make the most of its approval for online verification in Singapore. TransferWise has proved to be one of the UK’s biggest tech successes with 10 offices worldwide and over 600 staff.

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  • 27 Apr 2017 12:00 AM | Anonymous

    Donald Trump has decided not to scrap the North American Free Trade Agreement (NAFTA), but wants to renegotiate something he once called the "single worst trade deal ever". The trade agreement between the United States, Canada and Mexico was a major part of Trump’s election campaign in his mercantilist rhetoric.

    Related news: Trump Continues Outsourcing Attack

  • 27 Apr 2017 12:00 AM | Anonymous

    According to the latest Data Breach Investigations Report by Verizon, organisations are still not prepared for cyber-attacks despite a rise in cyber-crime. The use of ransomware and cyber espionage are hitting an increased range of organisations although the financial industry appears to be most at risk. You can read more about the story here.

    The GSA is focusing its annual Symposium on cyber security, learn more here.

    Related news: Cyber Criminals Run Riot

  • 27 Apr 2017 12:00 AM | Anonymous

    The Sri Lanka Investment Summit, organised by the influential Finance Asia magazine, was successfully held in Hong Kong recently in partnership with multiple stakeholders including Standard Chartered Bank and Asia Securities. The summit involved a large number of Sri Lankan business leaders and professionals as well as longstanding and new foreign investors in Sri Lanka such as Singer Asia, apparel giant Courtaulds and the World Bank private sector investor arm IFC. You can read more here.

    Related news: Sri Lanka Explores Digital Identity Council

  • 26 Apr 2017 12:00 AM | Anonymous

    UK tech firm, Babylon Health, have raised £50 million to create the perfect AI doctor. An app allowing customers to text symptoms to an artificial intelligence software before receiving advice is already being used by 800,000 people and is being trialled by NHS London as a replacement for the non-emergency 111 number. The money will be used to create a new app that offers a diagnosis.

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  • 26 Apr 2017 12:00 AM | Anonymous

    In 1990 Detroit, USA, was one of the economic centers of the world. At that time, the value of the top three companies in the automotive sector was estimated at $36 billion. Within a quarter of a century, most of Detroit's factories had shut down, and the city had lost half its population, gaining only the title of the murder and arson capital of America in return; while the value of the three largest companies from the new center of the global economy, Silicon Valley, exceeded $1 trillion, employing 10 times fewer staff than Detroit's automotive giants during their own glory days.

    The contemporary equivalent to Detroit in the 1990s is the economy of Germany, which is still based on industrial production, despite the digital revolution. Here, however, the similarities end as, unlike their American counterparts, the German economy is in a very good state, with no sign of any change in the near future. No wonder, because it was here that the idea of Industry 4.0, the fourth industrial revolution, was born. It may sound somewhat bombastic, but it is worth taking a closer look at specific projects and solutions, as these are what make the German economy one of the most competitive in the world, notwithstanding the growing demographic problems associated with an aging population and ever fewer people of working age.

    The fourth Industrial Revolution

    In brief, the first industrial revolution was based on mechanical production driven by the steam engine; the next revolution was mass production and electrification; while the third was the introduction of integrated circuits that allow automation into factories. As mentioned above, Detroit is the symbol of the exhaustion of the economic model created by these phases of evolution in industry. In the case of the fourth revolution, the driving force is the network, but in a much wider sense than the Internet itself:

    • social networks, signifying the development of the network economy, based on a network of partnerships between companies, co-operation, and business networks,

    • the Internet of Things – a key element of so-called smart factories, that operate based on a network of interconnected production machines equipped with sensors, readers and recorders that collect data and regulate the production process,

    • the Internet of services – on the one hand, this means cloud services; on the other hand, the specialization and outsourcing of services, using a partner network, which is also possible thanks to the use of modern communication technologies, enabling work to be done remotely,

    • the Internet of data – the use of both one’s own and external data as a resource to ensure the competitiveness of your enterprise. It also includes phenomena such as mass customization, or mass production including parameters identified by specific customers, as well as fog computing, the transient state between the local server and the cloud, and completely new ways of communicating - both within the company and with customers and business partners.

    Industry 4.0.

    The Fourth Industrial Revolution has the potential to address some of the most pressing contemporary issues facing industry, and more generally the economy as a whole, such as innovation and productivity problems, demographic problems, and the necessity of developing industries that are ecologically sound, economically efficient, highly innovative, and bring more added value than the service sector, but are also less susceptible to economic crises (reindustrialization).

    Paradoxically, Industry 4.0 is also a response to social unrest in highly developed countries caused by relocating production to countries where manufacturing is cheaper. It turns out that this phenomenon, which is typical of globalization, is losing steam. While in the United States this is simply Donald Trump's unfulfilled campaign promise, many of today's leading German companies, such as Adidas and Stihl, are bringing production back to Europe. But what has brought this on?

    Offshoring production is becoming less and less profitable (due to rising labor costs in Asia, which is also the result of globalization), and does not ensure swift order fulfilment, which is especially important in industries such as fashion. The ever shorter fashion cycles (the days of having two seasons, spring-summer and autumn-winter, are already a thing of the past, as we now have at least eight seasons), as well as mass customization (Adidas has long been offering customers the chance to customize their own shoes online), mean that production is obliged to move closer to the customer. But production is usually much more expensive there. So robotics is the solution, and the German and Swiss markets are leading the way.

    Bystronic and smart factory solutions

    For many readers, the theory of the fourth industrial revolution may sound naive, like another idealistic economic stimulus project, full of murky definitions and unclear guidelines. Therefore, it is worth giving an example of how it can work in practice. To do this, I will use the example of the Swiss company Bystronic, with whom I have the opportunity to cooperate in person.

    Bystronic offers advanced systems and services for industrial processing, including the cutting of various materials by means of laser and water jet, as well as sheet bending (for the automotive and shipbuilding industries). The equipment produced and used by the company requires specialized software that ensures the highly precise processing of materials. To that end, the company decided to establish a partnership with JCommerce, entrusting them with software development.

    “The demand by many users for automation and digital process solutions is increasing. This trend is being intensified by impulses from the field of Industry 4.0, which are changing also the world of sheet metal processing. Software plays a key role in this transformation. Software solutions support users in the planning, interlinking, monitoring, and optimizing of all their processes. In cooperation JCommerce and Bystronic are working on new software solutions, in order to support customers within a world of automated and networked manufacturing”, Bystronic says.

    JCommerce specialists are currently implementing software projects to support Bystronic by developing new solutions in the field of Industry 4.0.

    Clearly, the strategy of Bystronic is the idea of Industry 4.0 in practice, meaning that the company is aware of the potential of information that can be obtained using industrial machines, connected to a common data processing system, in the IoT model. It also takes advantage of the opportunities that a network of trusted business partners brings, carrying out tasks more effectively thanks to its specialized nature. Bystronic remains a company in the industrial sector, it is still a factory above all - although a smart version - because it utilizes advanced IT technologies to a great extent.

    Author: JCommerce

    Originally published on NearshoreIT-Blog

  • 25 Apr 2017 12:00 AM | Anonymous

    The Confederation of British Industry (CBI) has reported that export orders rose to a six-year high while optimism about foreign orders increased at the fastest rate in 43 years. The good news for Brexit negotiations is that orders to non-EU markets improved at a record pace. A weaker sterling and stronger global economy are credited for the growth.

    Related news: Britain’s Trade Deficit on The Rise

  • 25 Apr 2017 12:00 AM | Anonymous

    The Conservatives have begun firing shots at energy companies in recent days after a promise for ‘muscular’ action turned out to be a price cap. The pledge will be part of a Conservative manifesto and has left energy firms down in the dumps. The defence against the cap is that it will deter competition and damage consumers.

    Related news: Energy Switching on The Rise

  • 25 Apr 2017 12:00 AM | Anonymous

    The UK needs to make sure that the dividends of machine learning are shared with everyone in society according to the country’s top researchers in the field. Researchers have passed recommendations to the government to ensure that the UK can remain a leading centre for technology.

    Related news: Will Test Automation lead to job losses?

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