Abstract:
Industry 4.0 (I-4.0) is referred to as ‘fourth industrial revolution’ towards incorporation of artificial intelligence and digitalization of industrial systems. It is meticulously associated with the development and advancement of evolving technologies such as: Internet of Things, Cyber-Physical System, Information and Communications Technology, Enterprise Architecture, and Enterprise Integration. Power systems of today face several challenges that need to be addressed and application of these technologies can make the modern power systems become more effective, reliable, secure, and cost-effective. Therefore, a widespread analysis of I- 4.0 is performed in this paper and a summary of the outcomes, future scope, and real-world application of I- 4.0 on the electrical utility industry (EUI) is reported by reviewing the existing literature. This report will be helpful to the investigators interested in the area of I- 4.0 and for application in EUI.
