Industry 4.0 brings a new concept to hospitality sector
Industry 4.0 brings a new concept to hospitality sector
We are in the midst of a fourth industrial revolution. This time, it’s driven by technology that empowers machines to “learn” and take action. They can see, hear, and even feel; they are beginning to think like humans – using algorithms instead of rules-based programming. Combined with sensors, the Internet of Things (IoT) will enable companies to transform how they work with customers and collaborate with suppliers. As these innovations become pervasive, markets will change dramatically. Technologies like AI will transform how we create value as cost structure flattens, products hybridise into new combinations of functionality for better customer experiences – all these changes will present entrepreneurs with new opportunities to disrupt existing industries by reinventing processes
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