Saudi industry 4.0: A new wave of development

Overview?

Industry 4.0 is a new phase of the Industrial Revolution that emphasizes connectivity, automation, machine learning, and real-time data. #industry40 , which incorporates #iiotplatform and smart manufacturing, combines physical production and operations with intelligent digital technologies, machine learning, and big data to create a more holistic and linked ecosystem for manufacturing and supply chain management-focused businesses. While every company and organization working in the present day is unique, they all face a common challenge: the need for connectivity and real-time information across processes, partners, products, and people.

Saudi Arabia has emerged as a formidable force in the integration of next-generation technologies with the fundamental requirements of leading industries. The cooperation between the Kingdom and the World Economic Forum (WEF) for global technology governance is a remarkable illustration of Saudi Arabia's expanding influence in the global technology sector. In addition to fostering international collaborations for essential technologies, the Kingdom's cooperation with the World Economic Forum is also enabling the region to reap the benefits of the Fourth Industrial Revolution (4IR). This is in sharp agreement with the record $3.19 billion spent on digital transformation by the Kingdom in 2022. As a leading technology market in the #menaregion, Saudi Arabia possesses enormous potential for cultivating 4IR skills that enhance the country's industry.

Technology adoption, smart factories, and investor confidence are booming in manufacturing.

The Kingdom's desired objectives of economic diversification and investment readiness are heavily dependent on the development of local manufacturing capabilities, indigenous talent, and next-generation technologies. Saudi Arabia has made significant efforts in recent years to achieve these objectives. Therefore, the National Industrial Development and Logistics Program (NIDLP) aims to support local content development and the Fourth Industrial Revolution in the Kingdom's major sectors, including Energy, Mining, Industry, and Logistics. As the United Kingdom incorporates Industry 4.0 technologies, such as artificial intelligence, into manufacturing, the sector can expect a 30% increase in output. In addition, the United Kingdom is currently pursuing plans to modernize 4,000 factories to capitalize on the Fourth Industrial Revolution (4IR). This futuristic approach to industrial expansion and technology adoption is supported by the creation of high-quality jobs and an increase in regional contribution across the nation.

Creating SEZs with technology-led manufacturing

The integration of big data analytics and automation throughout the Saudi Arabian manufacturing sector is expected to stimulate the industrial economy of the country, hence drawing more foreign investment to the region's special economic zones. Through the use of artificial intelligence, robots, and big data analytics in the industrial sector, NIDLP creates novel/new avenues for Saudi Arabia to attract quality FDI. In addition, NIDLP wants to capitalize on the opportunities created by Industry 4.0, enhanced R&D, and improved governance. Over 84 initiatives have been commissioned to strengthen the Kingdom's special economic zones. Saudi Arabia has identified 40 components or goods for specialized production.

4IR implementation increases productivity and revenue.

Saudi Arabia is expected to accelerate the shift from mass production to customization and hyper-personalization. 4IR can provide smart supply chains and improve data management to customize client experiences across sectors. 4IR improves physical and digital infrastructure across the Kingdom, a long-term strategic priority. 3D printing and wearables will alter the future of Saudi production. Wearables boost the Saudi workforce's skills, while 3D printing improves production time. Saudi Arabia's industrial and manufacturing revolution will lead to economic growth and diversification.