ABSTRACT
With the development of transistors, the third industrial revolution came into existence with changes in the application of technology from a physical domain to a virtual one. Robotics and automation have been extensively employed in car, space, and mass-production industries, which transformed the production system to a much easier and faster approach. For customized and high-demand products, the flexible manufacturing has become the need of the market and time. But the transparency between the people and the manufacturing unit (or the lack of flow of information between the producers and the customers) was a big issue to be solved entirely. With further improvement in the digital technology and its integration with the information technology where data can flow from machine to machine or across company boundaries, sophisticated algorithms have been incorporated to optimize the information in the network and communicate with the cyber-physical systems (CPS) or the machines for the best possible solution to any operational problem. This would solve the issue of the customer–producer relationship. In this paper, the general overview of the manufacturing world in the future (or the future industries), their fundamental technologies, their future ethics and laws to be followed, their characteristics, and their impact on the socioeconomic–political domain has been discussed in detail.
