Innovation Heroes: Industry 4.0 is going to space. What a giant leap!

Industry 4.0, often referred to as the fourth industrial revolution, is transforming the way businesses operate by integrating advanced technologies such as AI, IoT, robotics, and big data into manufacturing and other sectors.

Space is quickly becoming an additional new frontier for innovation. In this first episode of Season 6 of Innovation Heroes, an SHI podcast, guest Stacey Shulman dives deep into how this is changing the landscape. She shares her enthusiasm about the unexpected advancements in space technology and their potential impact on various industries.

“If you know that there’s a disruptive technology or macro trend happening, even if you don’t know how it’ll impact you, it’s best to get involved early and evolve with it,” says Shulman.

Dave Gruver, Field CTO at SHI, describes this transformation vividly: “We’re seeing Industry 4.0 technology not only transform traditional industries like healthcare and retail but also open up new frontiers in manufacturing and space exploration.”

Gruver shares his insights on how businesses are navigating this digital shift, from grappling with technological debt to leveraging AI for improved decision-making and efficiency. He highlights the challenges companies face, particularly those with legacy systems, and the steps they can take to overcome these obstacles.

Preparing for the future of space innovation

Shulman discusses the surprising growth of the space industry, which is expected to be worth up to $2.31 trillion by 2035. She talks about the potential of space manufacturing, where the unique conditions of microgravity can produce materials and products that are impossible to create on Earth. She also points out the existing and emerging applications of space technology, from GPS to biotech innovations, that are beginning to shape industries here on Earth.

As the conversation unfolds, both Gruver and Shulman emphasize the importance of businesses preparing now for the future of space innovation. Dave also offers practical advice for IT leaders looking to capitalize on these trends.

“I think number one, and you kind of said it, open-mindedness, I think you’ve got to hire and nurture a mindset of curiosity,” says Gruver. “You’ve got to have that in your workforce, right? You can’t be holding on to what I have; you’ve got to be looking for what I can do, right? What can we take forward?”

Gruver suggests that companies must foster a culture of curiosity and adaptability to thrive in this rapidly evolving technological landscape. Businesses need to stay ahead by continuously learning and adapting to new technologies, and by looking beyond their own industries for inspiration and innovation.

The sky is no longer the limit

At SHI, we’re at the forefront of helping businesses navigate these uncharted waters. We are actively building capabilities, like our AI lab in Somerset, to support customers on their journeys through Industry 4.0 and beyond. Our goal is to provide businesses with the tools and strategies they need to stay ahead of the curve and capitalize on the opportunities that lie ahead.

“We haven’t even scratched the surface yet on what manufacturing in space can do for us,” says Stacey Shulman. “But it’s going to get there quick, and we need to be ready.”

Listen to the full conversation here. You can also find episodes on SHI’s Resource Hub, Spotify, and other major podcast platforms, and on YouTube in video format.

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