“Tech.mt recognises that the key to stay ahead of the game lies in the agility of recognising and implementing new innovative technologies.”
Technology is definitely not something to be described as static. If anything, the developments are moving faster than ever. With digital transformation being accelerated by exponentially growing technologies, companies, their people, and their industrial processes need to adapt to this rapid change if they are not to be left behind by developments in their sector and among their competitors. The question is not if Industry 4.0 will come but how quickly it will get here.
Industry 4.0 is set to transform the future of engineering and manufacturing.
In the engineering sphere, the widespread adoption of ICTs by manufacturing companies has paved the way for new, innovative approaches to development, production and the logistical chain. Industry 4.0 is set to transform the future of engineering and manufacturing.
Digital Engineering enables the process of using a digital skillset to design, gather, and integrate data. It has opened up a whole new world of possibilities and prospects for the sector. The engineering sector’s digital transformations have provided practitioners with new tools for envisioning and delivering design. It has pushed the boundaries of innovation and creativity.
While the key enablers of Industry 4.0 facilitate the digitalisation of mechanical engineering, data acts as the ‘digital thread’ that links and connects all of the components. Data is at the foundation of Industry 4.0 and the technology enablers that support it. The focus is shifting away from physical assets and toward optimising how data is handled, analysed, and shared across the whole value chain and product lifecycle.
Design, construction, and business operations procedures have evolved and will continue to change, from hand-drawn conceptions and cardboard models to generating virtual models and simulations. This is demonstrated by the growth of technologies such as the Internet of Things (IoT) and Machine Learning (ML).
57% of the surveyed companies had deployed IoT technology
IoT has been growing over the last several years, and it appears that it will continue to expand in Malta. Specific industries such as transportation, logistics, and telecommunications, are likely to fuel this expansion. Other sectors, such as retail, security, banking, and manufacturing, benefit from increased growth.
A study conducted by Tech.mt in 2021, established that 57% of the surveyed companies had deployed IoT technology within their operations or solutions. The subject matter of this study is essential for change and innovation within the local business community, given the projected increase of IoT demand, the advent of artificial intelligence (AI), and the approaching roll-out of 5G.
With digitisation engulfing the engineering profession, today’s engineers must be multidisciplinary. They are expected to transform into engineers 4.0 – investigate, adapt and optimise their innovations to satisfy constantly changing customer requirements.
Throughout the past years, Malta has successfully diversified its economy, with the tech sector not only being a key sector in its own right but also being a transversal sector supporting the growth of other important sectors, such as manufacturing. There is no doubt that the future is digital and Tech.mt is today well-positioned to continue building on the existing strengths and we will remain pivotal in making sure technology and digital platforms are used in the best way possible, ensuring an economy which is based on digital resilience and digital innovation.
Furthermore, Tech.mt is committed to ensure that the upcoming tech workforce is being nurtured to fit the market demands. By means of our collaboration with local and foreign universities, institutes and training bodies, we strive to increase awareness and interest in taking up careers in technology and participate in devising new study programmes which would in turn supply the market with upcoming and trained employees. To this end, eight MoUs were this year signed between Tech.mt, the University of Malta and eight partnering Universities in Italy. The partnering Universities are some of the best Universities in the ambits of computer sciences and new technologies, particularly in terms of robotics engineering, machine learning, data science, medical bioinformatics, space science and biotechnology. The areas of collaboration include joint research, joint participation in research and innovative projects/programs, capacity building, creation of training and employment networks for graduates, and exchange of information on undergraduate and postgraduate degree programs.
Digital evolution requires an ongoing journey of digital transformation and innovation. At Tech.mt we strongly believe that it is fundamental for industries to transform and adapt their business ecosystems and models. Business leaders must make the leap and become the knowledge driven innovative entity they inspire to be.
Tech.mt recognises that the key to stay ahead of the game lies in the agility of recognising and implementing new innovative technologies. It follows companies along their journey to adopt these innovations and offers support and direction along the way.