Driving Environmental Resilience: Integrating Industry 4.0 for Circular Economy
摘要
The advent of Industry 4.0 (I4.0) has facilitated the development of various digital technologiesTechnology, which offer significant economic, environmental, and societal advantages. Circular economyCircular economy (CE) is a paradigm that draws inspiration from business models and value propositions of resource managementResource management,. The interaction between I4.0 and circular economyCircular economy is gaining attention in corporate boardrooms, policy groups, and academic circles equally. However, current research indicates a limited comprehension of how I4.0 technologiesTechnology advance the CE by facilitating the flow of resources. This chapter aims to explore the ways in which such technologiesTechnology, including the Internet of Things, artificial intelligence, and blockchain, aid in the transition from a linear economyLinear economy to a circular one. The chapter employs secondary sources of data and existing studies on the topic are reviewed to examine the current scenario as well as to provide implications. The research suggests that while organizations are actively engaging in circular economyCircular economy projects, the relation between circular initiatives and the deployment of I4.0 is not apparent. However, the use of digital technologiesTechnology is leading to increased efficiency, enhanced processes, and improved data management. However, in order to establish a stronger connection with the circular economyCircular economy, there will be a need for advanced information systems that streamline the process of reporting and analyzing the performance of circular economyCircular economy operations in relation to predetermined goals. Finally, the conclusion of the chapter is given, which acknowledges its limitations and delineates areas of research that have not been addressed.