Abstract
Every so often, a confluence of novel technologies emerges that radically transforms every aspect of the industry, the global economy, and finally, the way we live. These sharp leaps of human ingenuity are known as industrial revolutions, and we are currently in the midst of the fourth such revolution, coined Industry 4.0 by the World Economic Forum. Building on their guideline set of technologies that encompass Industry 4.0, we present a full set of pillar technologies on which Industry 4.0 project portfolio management rests as well as the foundation technologies that support these pillars. A complete model of an Industry 4.0 factory which relies on these pillar technologies is presented. The full set of pillars encompasses cyberphysical systems and Internet of Things (IoT), artificial intelligence (AI), machine learning (ML) and big data, robots and drones, cloud computing, 5G and 6G networks, 3D printing, virtual and augmented reality, and blockchain technology. These technologies are based on a set of foundation technologies which include advances in computing, nanotechnology, biotechnology, materials, energy, and finally cube satellites. We illustrate the confluence of all these technologies in a single model factory. This new factory model succinctly demonstrates the advancements in manufacturing introduced by these modern technologies, which qualifies this as a seminal industrial revolutionary event in human history.