Income Verification Letter 5

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Between the massive machines are a few narrow black boxes – inconspicuously connected by cable with the heavy equipment. They collect data that is then Income Verification Letter streamed to an analytics platform in the cloud. Renowned industry meets digitization. Employees can then track production processes in real time on this platform. From any location, from different end devices.

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Behind the solution stands the internet-of-things-start-up Oden Technologies, it advertises that workers in a factory perceive problems so up to 95 percent faster that defective productions worth several hundred thousand dollars per year verm The output will increase by ten to fifteen

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percent due to the higher steady-state production speed. A new machine age is imminentIt’s just one example, but it shows that digitization is finding its way into industry. A whole range of companies have set themselves the same goal – they are at the forefront of a profound change

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in production. It’s about a $ 12,000 billion industry that accounts for 17 percent of global gross domestic product. Technological progress is now paving its way and modernizing production. Inexpensive sensors, cheap wireless communication infrastructure, highly scalable cloud-based

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data processing and novel machine-learning methods are the basis for a new machine age. Industry 4.0 has not gone unnoticed by manufacturers worldwide. But technical advancements and their benefits are not the only reason why the industry is increasingly digitizing. The companies have no choice. Macro factors bind their hands. One reason: the shift from universal

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mass production to the production of smaller batches of individual products – from clothing and shoes to medicines. This means that traditional manufacturing methods are expensive and therefore unsuitable. In addition, both consumers and companies demand faster processing times. The number two is China. Enormous competition from agile companies in the Far East put European and American manufacturers under pressure. You must take a step forward to

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stay competitive. The Holy Grail of Industry 4.0At the end of this path is the Lights-Out Factory. A factory that works autonomously and without any human intervention. Fully automated, she would not even need lighting. But how realistic is this idea, almost the holy grail of Industry 4.0? Elon Musk and Tesla have already tried this mammoth project and are – as it stands now – a warning example. The production of the Model 3 shows: Even if it was a visionary and

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praiseworthy project, one should not drive the automation dogmatically and too fast. This creates too many unknowns, chaos and confusion. The more rational approach is incremental and iterative. With technical advances in analytics, computer vision, robotics, augmented reality and wearables, as well as more efficient design and prototyping cycles. With a culture that focuses on agile development. This means that projects and ideas are driven forward, even if only imperfect data is available. It is a constant trial and error, failures are part of it. In this way,

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visionary factories can operate completely autonomously within a decade. At a pace that the industry still doubts. A PwC study shows that just 11 percent of all companies expect full automation within the next five years. But there is also hope: Two-thirds expect the use of predictive maintenance, analysis, monitoring, and process optimization data to produce an average 12 percent increase in efficiency within that period. The Human Factor However, an increasing level of automation will be a major challenge for jobs. It Income Verification Letter would be irresponsible to ignore that.

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