Know the five requirements of the industrial revolution that business organizations need
In the Fourth Industrial Revolution, business organizations must meet several key requirements to thrive, including digitalization and connectivity to leverage technologies such as IoT and cloud computing (Schwab, 2016). Additionally, automation and robotics are essential to optimize processes and increase productivity through the use of RPA and collaborative robots (Kagermann et al., 2013). Data analytics and artificial intelligence play a crucial role in generating insights and personalizing experiences, while cybersecurity becomes increasingly crucial to protect sensitive data (Chui et al., 2018). Lastly, agility and adaptability are necessary to respond quickly to market and technological changes (Westerman et al., 2011), enabling organizations to remain competitive in this dynamic environment.
Chui, M., Manyika, J., & Miremadi, M. (2018). Notes from the AI frontier: Modeling the impact of AI on the world economy. McKinsey Global Institute.
Kagermann, H., Wahlster, W., & Helbig, J. (2013). Recommendations for implementing the strategic initiative INDUSTRIE 4.0: Final report of the Industrie 4.0 Working Group. Forschungsunion.
Schwab, K. (2016). The Fourth Industrial Revolution. World Economic Forum.
Westerman, G., Bonnet, D., & McAfee, A. (2011). The digital advantage: How digital leaders outperform their peers in every industry. MIT Sloan Management Review.
I have a brief presentation on Industry 6.0 on my profile which is downloadable. A key concept of Industry 6.0 is 'Anti-fragile' systems.
Toward Digital Economy
"Digital technology is revolutionising the way people live, particularly in the era of artificial intelligence (AI). The EU’s digital strategy seeks to harness this transformation for the benefit of individuals and businesses, striving to establish the upcoming decade as Europe’s “Digital Decade”. Concurrently, it aims to contribute to the objective of achieving a climate-neutral Europe by 2050...
The Digital Agenda for the Western Balkans aims to support the transition of the region into a digital economy and bring the benefits of digital transformation, such as faster economic growth, more jobs, and better services.
In 2018, the Commission together with Ministers from six Western Balkan partners – Albania, Bosnia and Herzegovina, Kosovo*, Montenegro, North Macedonia and Serbia – committed to:
- Investing in broadband connectivity
- Increasing cybersecurity, trust and digitalisation of industry
- Strengthening the digital economy and society
- Boosting research and innovation
Digitalisation is a key priority for regional progress and the POLICY ANSWERS project also aims to put it into focus, aligning priorities between the regional stakeholders and the EU..."
https://www.westernbalkans-infohub.eu/theme/digital-agenda-for-the-balkans-digitalisation/
https://www.westernbalkans-infohub.eu/documents/digital-transition-in-the-western-balkans/