Small and medium enterprises (SMEs) form the backbone of Penang’s manufacturing industry, yet many are still very much rooted in tradition, applying processes and practices of the preceding Industry 3.0 – automation, computers and electronics.
The current industrial shift to Industry 4.0 directs focus to the creation of smart factories, enabled by data-driven technologies and the combination of cyber-physical systems, e.g. the Internet of Things (IOT) and the Internet of Systems (IOS), propelling the existing manufacturing landscape into a thriving new era of production.
For this reason, companies are suddenly faced with the pressing need to embrace higher levels of innovation, adopt smart technologies and invest in the reskilling and upskilling of employees and talents to improve performance and remain competitive in the ever-changing world of business.
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