AI and Industry 4.0: A Review of Applications and Contributions

What began as quantum physics in the 1920s is a leading innovation in industry today. Industry 4.0 is the technology-driven era of business of which artificial intelligence (AI) is an imminent part. AI has touched every aspect of life not just business, and several applications are apparent today—e-commerce, diagnostics and patient care, robotics in retail, manufacturing, mining, weather predictions, transportation, education and so many more. This chapter aims to study and elucidate the applications and contributions of AI in the Industry 4.0 scenario. While the subject matter is exhaustive and available research indicates that each sector of the industry will lead to independent research, an attempt has been made to collect information with regard to the effect of AI on human lives and society in general. Within the scope of this chapter, applications and contributions of AI in retail, manufacturing and healthcare have been studied alongside a focus on the ability of AI to establish sustainability within the industry. This study has indicated that while on one end of the spectrum there are numerous benefits accrued through the use of AI, on the other end there are clues indicating inequity, loss of privacy and ethical concerns.