Are You Ready For The 4th Industrial Revolution?
the Fourth Industrial Revolution, or Industry 4.0. The adoption of cyber-physical systems, the Internet of Things and the Internet of Systems
While in some ways it’s an extension of the computerization of the 3rd Industrial Revolution (Digital Revolution), due to the velocity, scope and systems impact of the changes of the fourth revolution, it is being considered a distinct era. The Fourth Industrial Revolution is disrupting almost every industry in every country and creating massive change in a non-linear way at unprecedented speed.
In his book, The Fourth Industrial Revolution, professor Klaus Schwab, founder and executive chairman of the World Economic Forum, describes the enormous potential for the technologies of the Fourth Industrial Revolution as well as the possible risks.
Our workplaces and organizations are becoming “smarter” and more efficient as machines, and humans start to work together, and we use connected devices to enhance our supply chains and warehouses. The technologies of the Fourth Industrial Revolution might even help us better prepare for natural disasters and potentially also undo some of the damage wrought by previous industrial revolutions.
There might be increased social tensions as a result of the socioeconomic changes brought by the Fourth Industrial Revolution that could create a job market that’s segregated into “low-skill/low-pay” and “high-skill/high-pay” segments.
We need to develop leaders with the skills to manage organizations through these dramatic shifts.
More on the 4th industrial revolution in this IMS blog