We are in the midst of a significant transformation in the industry. This transition is so compelling that it is being called Industry 4.0 to represent the fourth revolution in the way we produce products. From the first industrial revolution in 1700s (mechanization through water and steam power) to the mass production and assembly lines in 1800s using electricity in the second. Then, third revolution from late 1900s – where we saw the emergence of computers and automation. Today, the fourth industrial revolution is taking computers and automation and enhancing them with smart and autonomous systems fueled by data and machine learning.