The phrase Fourth Industrial Revolution was first introduced by Klaus Schwab, the executive chairman of the World Economic Forum, in a 2015 article in Foreign Affairs "Mastering the Fourth Industrial Revolution" was the theme of the World Economic Forum Annual Meeting 2016 in Davos-Klosters, Switzerland. On October 10, 2016, the Forum announced the opening of its Centre for the Fourth Industrial Revolution in San Francisco.
Schwab includes in this fourth era technologies that combine hardware, software, and biology (cyber-physical systems),[9] and emphasizes advances in communication and connectivity. Schwab expects this era to be marked by breakthroughs in emerging technologies in fields such as robotics, artificial intelligence, nanotechnology, quantum computing, biotechnology, the internet of things, the industrial internet of things (IIoT), decentralized consensus, fifth-generation wireless technologies (5G), 3D printing and fully autonomous vehicles.
While many organizations might still be in denial about how Industry 4.0 could impact their business or struggling to find the talent or knowledge to know how to best adopt it for their unique use cases, several others are implementing changes today and preparing for a future where smart machines improve their business.
What will be the impact on the economic and sosio-economic ?
Dear Sutiman Abd Shukor,
In my opinion, the concept of Industry 4.0 is increasingly associated with the concept of the fourth industrial revolution. The development of information processing technologies in the era of the present fourth technological revolution, more and more often associated with the concept of Industry 4.0, is determined by the development and growth of applications of ICT information technologies, Internet technologies and advanced data processing. The technological revolution currently taking place, referred to as Industry 4.0, is motivated by the development of the following factors: analytical and database technologies Big Data Analytics, Data Science, cloud computing, machine learning, personal and industrial Internet of Things, artificial intelligence, Business Intelligence, autonomous robots, horizontal and vertical data system integration, multi-criteria simulation models, additive manufacturing, Blockchain, smart technologies, cybersecurity instruments, Virtual and Augmented Reality and other advanced data mining technologies. The above-mentioned advanced information processing technologies find more and more applications in various fields of industry, goods production and service delivery. There is a growing number of industries, fields of economic activity, sectors of the national economy in which advanced information processing technologies typical of the current fourth technological revolution known as Industry 4.0 are applied. One of the significant achievements of the continuation of technological progress in the field of wireless communication and mobile telephony is the 5G technology, which also accelerates the development and implementation of Internet of Things, cloud computing and other Industry 4.0 technologies in various branches of the economy. The development of the above-mentioned technologies allowed for the acceleration of digitization and internationalization of economic processes and remote communication, which took place in 2020 during the SARS-CoV-2 (Covid-19) coronavirus pandemic.
Best wishes,
Happy New Year 2021
Dariusz Prokopowicz
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