Industry 4.0: The oil and gas sector's digital future
Digitalization is already playing an important role in the energy industry, but more needs to be done for the sector to truly embrace the future of business.
Mar 4, 2022
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39
Business
Digitalization is already playing an important role in the energy industry, but more needs to be done for the sector to truly embrace the future of business.
Mar 4, 2022
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39
Business
Chances are you've either heard of the global semiconductor chip shortage or been personally affected by it when looking into purchasing a new or used vehicle over the last year and a half. Two faculty members in the Department ...
Dec 2, 2021
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Machine learning & AI
When the Beatles broke up more than 50 years ago, devastated fans were left yearning for more. Now, artificial intelligence is offering just that.
Jun 5, 2023
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Consumer & Gadgets
Better pay and new agreements with streaming platforms: the actors' strike that brought Hollywood to a standstill a few days ago is mainly about money. But there is something else that film actors are worried about—the ...
Jul 20, 2023
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3
Engineering
As manufacturing and technology continually take steps forward, products are using more advanced materials and becoming more sophisticated, but also more complicated.
Oct 27, 2023
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1
Engineering
Despite the many advantages of concrete as a modern construction material, including its high strength, low cost, and ease of manufacture, its production currently accounts for approximately 8% of global carbon dioxide emissions.
Mar 28, 2023
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71
Business
Taiwanese chip giant TSMC said on Friday that April revenue jumped nearly 60 percent on-year, riding a huge wave of demand for the advanced semiconductors used in AI hardware.
May 10, 2024
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Electronics & Semiconductors
A research team led by Professor Kyoseung Sim in the Department of Chemistry at UNIST has achieved a milestone in sustainable wearable devices. Their cutting-edge method enables closed-loop recycling of organic electronic ...
Dec 13, 2023
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46
Business
Vancouver, Washington, resident Michael Feist has logged nearly 163 hours on "Call of Duty: Modern Warfare II" since it was released two months ago.
Dec 29, 2022
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Automotive
The auto industry has raced ahead on an electric wave with more manufacturers joining the race seemingly every day.
Sep 2, 2021
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An industry (from Latin industrius, "diligent, industrious") is the manufacturing of a good or service within a category. Although industry is a broad term for any kind of economic production, in economics and urban planning industry is a synonym for the secondary sector, which is a type of economic activity involved in the manufacturing of raw materials into goods and products.
There are four key industrial economic sectors: the primary sector, largely raw material extraction industries such as mining and farming; the secondary sector, involving refining, construction, and manufacturing; the tertiary sector, which deals with services (such as law and medicine) and distribution of manufactured goods; and the quaternary sector, a relatively new type of knowledge industry focusing on technological research, design and development such as computer programming, and biochemistry. A fifth quinary sector has been proposed encompassing nonprofit activities. The economy is also broadly separated into public sector and private sector, with industry generally categorized as private. Industries are also any business or manufacturing.
Industry in the sense of manufacturing became a key sector of production and labour in European and North American countries during the Industrial Revolution, which upset previous mercantile and feudal economies through many successive rapid advances in technology, such as the steel and coal production. It is aided by technological advances, and has continued to develop into new types and sectors to this day. Industrial countries then assumed a capitalist economic policy. Railroads and steam-powered ships began speedily establishing links with previously unreachable world markets, enabling private companies to develop to then-unheard of size and wealth. Following the Industrial Revolution, perhaps a third of the world's economic output is derived from manufacturing industries—more than agriculture's share.
Many developed countries (for example the UK, the U.S., and Canada) and many developing/semi-developed countries (People's Republic of China, India etc.) depend significantly on industry. Industries, the countries they reside in, and the economies of those countries are interlinked in a complex web of interdependence.
This text uses material from Wikipedia, licensed under CC BY-SA