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Smart factories: The Korean example
Nov 07: Find out how the Korean machine tool industry and how increasingly Korean factories are 'smart". Find out how much productivity gain smart factories are to elicit.
8Productivity has gone up 23%,
8Production defects are down by 46%  while cost reductions have been to the extent of 16%, while contributing to the quick and timely supply of products.
8In conjunction with the smart factory boom, new demand is being created for controllers, sensors and other devices and systems required for the smart factory framework, while factories idled by the smart factory transition are being recycled via the Korea Machinery Auction & Exchange's online mall.
8There is a flip side too. The characteristics of the latest industrial revolution are hyper-connectivity and super-intelligence, which in turn has unfolded great concern of an eventual takeover by machines of the entire economic structure of the world, subsequent to Alpha Go's victory over human intelligence.
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