Leadership Insights, Here's everything you wanted to know about the Fourth Industrial Revolution (but were afraid to ask) [click to tweet]. It’s reshaping government, education, healthcare, and commerce—almost every aspect of life. He also listed areas where the fourth industrial revolution can help in transforming India like in the fields such as: Enhancing farmers’ income by providing them with new technology and equipment, It will strengthen infrastructure and improve connectivity to every last village. December 15, 2020. In the fourth industrial revolution, the process is moving from electronic towards becoming a combination of human beings and electronics. In our quest, we catch up with Alvin Carpio, Founder and Chief Executive of The Fourth Group, a global community in politics and technology. This period introduced mass production and replaced hand tools with machines. Red Hat will also be involved with this new collaboration. Workers will more than likely need to update their skills, not just once but many times throughout their careers. If anything, COVID-19 has only accelerated the adoption of Industry 4.0, leading businesses across industries to use Internet of Things (IoT) technology and Big Data in a more sophisticated manner. Soon iron and steel became the essential materials for the revolution that helped make everything from cooking appliances to ships effective. Unfortunately, India was only able to capture a part of the third industrial revolution and not the full measure of it. This was mainly due to India’s complicated political and economic relationship with Great Britain. The technologies range from textile manufacturing innovations like the flying shuttle to the enormous steam engine driven ocean-going ships of the period. Here's a great visual from the WEF. Among the things customers regard as being âvery important to winning their businessâ are connected processes, such as contextualised engagement based on earlier interactions (70%), and tailored engagement based on past interactions (59%). However, several key innovations changed all that. It was mainly inspired by the growth of technology, wealth and power of the British. By the 1900’s, the successive waves of the industrial revolution boosted growth of the global economy by as much as 14 times. Per capita income increased four-fold. Blockchain is a secure, decentralised, and transparent way of recording and sharing data, with no need to rely on third-party intermediaries. Almost two-thirds (62%) are more afraid of their data being compromised now than they were two years ago. Get it wrong and they risk losing more than just the sale â 57% of customers have stopped buying from a company because a competitor provided a better experience. Read more Gist of Rajya Sabha TV to help you ace current affairs in the IAS exam. Taking a giant leap towards becoming a technologically advanced and digitally empowered economy, Prime Minister Narendra Modi launched the Centre for the Fourth Industrial Revolution India recently. By the time the third phase of the industrial revolution had come, we had become an independent country, and we did capture some of the value-add, but it is only now that because of the advantage that is created by the young population; and that our industrial processes have become smarter; the fact that India is now an IT powerhouse that we can now hope and aspire to capture the full benefit of the industrial revolution. The rise of artificial intelligence (AI), commonly referred to as the fourth industrial revolution, carries with it significant investment implications. We can all individually have a direct role in shaping our future, and creating economic opportunity for millions of people by investing our time and resources in helping others.â. One example is Salesforceâs Pathfinder training program, created in 2017 in partnership with Deloitte. By the 1890’s, huge industrial combines were formed. Like most software applications and electronic devices, the industry 4.0 refers to a software revision meant to indicate the overall shift towards digital platforms. Itâs all happening at an unprecedented, whirlwind pace (and is why Salesforce built the Customer Success Platform to keep up with changing customer expectations). The Fourth Industrial Revolution is a term that defines our present technological age. By 1889, private enterprise was soon involved in the growing economy, especially in textiles. According to Tom Puthiyamadam, Global Digital Services Leader with PwCâs Advisory practice, itâs imperative that businesses build their capacity to innovate and be agile. The first and the second stages of the industrial revolution span a period from 1760 till 1914. Required fields are marked *, Fourth Industrial Revolution RSTV In Depth, Aspirants would find this article very helpful while preparing for the, The above details would help candidates prepare for. Economists widely acknowledge Great Britain as the birthplace, and leading force of the industrial revolution. Employees are differently exposed to automation depending on the position they hold and on their tasks. The industrial revolution spread to all corners of the British Empire, and took root in the United States in the 1870’s, after the American Civil War between 1861-1865. As these technologies change whatâs possible, theyâre also transforming customersâ expectations. “The fourth industrial revolution blurs the line between the physical, the digital, and the biological.” This revolution isn’t particularly about the things that collect data. The Centre for the Fourth Industrial Revolution India would work in collaboration with the NITI Aayog, to co-design new policies and protocols for emerging technologies with an initial focus on artificial intelligence, block-chain technology and drones. New colonial laws forced Indian farmers to devote fields to cotton crops, instead of food and this led to widespread famine and poverty in India. One was the “Spinning Jenny” invented by James Hargreaves in 1764. The aim is to provide increasingly enhanced, customized offerings to help meet the needs of individuals and organizations that can adapt and evolve to … Then came the age of computers, the internet, gene-editing, block chain, self-driving cars, and artificial intelligence, to neuro-technological brain enhancements. The evidence of dramatic change is all around us and it is occurring at an exponential speed. With the Fourth Industrial Revolution presenting both immense opportunities and challenges, itâs up to all of us to work together to ensure that it benefits everyone. In 1953, there remained only 53 mills in the city. After World War II, under strong competition from Japan, the number of mills declined. Examples include LâOréalâs makeup app, which allows users to digitally experiment with makeup products before buying them, and the Google Translate phone app, which allows users to scan and instantly translate street signs, menus, and other text. âAI is fueled by data. In this article, you can read about the discussions held in the ‘In Depth’ episode on the Fourth Industrial Revolution for the IAS exam. The Fourth Industrial Revolution is a way of describing the blurring of boundaries between the physical, digital, and biological worlds. Previous industrial revolutions liberated human-kind from animal power, made mass-production possible, and brought digital capabilities to billions of people. Transportation and communication costs will drop, logistics and global supply chains will become more effective, and the cost of trade will diminish, all of which will open new markets and drive economic growth.â. Virtual reality (VR) offers immersive digital experiences (using a VR headset) that simulate the real world, while augmented reality merges the digital and physical worlds. In Europe, the industrial revolution took place sometime after the United Kingdom. As the Fourth Industrial Revolution reshapes the future of work, businesses must prepare their people for the new world that lies ahead. On Human Rights Day, a recently published pan-African survey of young people finds that the vast majority (78%) believe that access to Wi-Fi and Internet connectivity should be a fundamental human right, while over eight in ten (81%) … Because customers today expect personalised experiences, collecting quality data is more important for businesses than ever. The first industrial revolution used water and steam to mechanize production. While weâre yet to see robot assistants in every home, technological advances have made robots increasingly complex and sophisticated. Industry 4.0 is another label given to the ongoing (fourth) industrial revolution that embraces automation of traditional systems. Robotics refers to the design, manufacture, and use of robots for personal and commercial use. Samsung Electronics Co. Ltd today announced a new plan to collaborate with IBM to develop edge … Unfortunately, the research also found that 57% of customers are uncomfortable with how companies use their personal or business information. Itâs a fusion of advances in artificial intelligence (AI), robotics, the Internet of Things (IoT), 3D printing, genetic engineering, quantum computing, and other technologies. But as data becomes the currency of our digital lives, companies must ensure the privacy and security of customer information. He asserted that the revolution will take India to newer heights. It ushers in a series of social, political, economic, and cultural upheavals, that will unfold over the 21st Century. Artificial Intelligence, Machine Learning, the Internet of Things (IoT), Block Chain Technology, Big Data, can act as a catalyst towards taking India’s growth story to newer heights. With this, India is about to embark on a massive digital and technological transformation. Fourth Industrial Revolution is the fusion of robotics, artificial intelligence, nanotechnology, biotechnology, block chain technology, drones technology and a host of others. The Fourth Industrial Revolution has not halted despite the global pandemic. About 200 representatives of 45 ASEAN Sectoral Bodies across the ASEAN Community pillars attended the workshop. Prime Minister Modi exuded confidence that India’s contribution to the next industrial revolution would be astonishing. "The Fourth Industrial Revolution creates a world in which virtual and physical systems of manufacturing cooperate with each other in a flexible way at the global level". This post originally appeared on the U.S.-version of the Salesforce blog. the fourth industrial revolution: opportunities and challenges Similar to revolutions prior, the Fourth Industrial Revolution a real potential to awake massive changes in the world. Building on the widespread availability of digital technologies that were the result of the Third Industrial, or Digital, Revolution, the Fourth Industrial Revolution will be driven largely by the convergence of digital, biological, and physical innovations. In the Mughal period, India had a considerable variety of arts and handicrafts. The more the machine learns about you, the better it can predict your needs and act on your behalf. This will initially focus on artificial intelligence, and machine learning. The first industrial revolution started in the 18 th century and from that time, numerous ideas have changed. Turkey has launched the Centre for the Fourth Industrial Revolution Network to manage digital transformation with the help of international cooperation, the country's industry and technology minister said on Dec. 10.. The fourth industrial revolution is also known as there (4IR) is an era that is occupied by significant industrial changes and technological advancements. Nowhere will this be more evident than in customer experience. Recently, Prime Minister Narendra Modi gave an institutional shape to the expression, by launching the center for the 4th industrial revolution- which is an initiative of the World Economic Forum. Itâs not all good news, however. It will improve the ease of living and the ease of doing business; India has recently announced its drone policy as well, which will enable drone-mapping and other applications as per the fourth industrial revolution. This is the era where people experience artificial intelligence and autonomous cars. This requires global cooperation and a shared view of how technology is reshaping our economic, social, cultural, and individual lives.â. Many senior executives are already asking how all this will be achieved. Advancements during the third industrial revolution include the personal computer, the internet, and information and communications technology. As these fundamental transformations are underway, it is in our hands to proactively shape the 4th industrial revolution. Already, Africa’s working population is becoming better educated a… Better transportation in the form of railroads brought goods and labour and in turn, this helped inventors and entrepreneurs to find new markets for innovations and investments. Where did the term âFourth Industrial Revolutionâ come from? Until then, industry in Britain took place in small foundries, or people’s homes. Quantum computing technologies now in development will eventually make computers millions of times more powerful. India became the fourth country in the world, where the World Economic Forum (WEF) opened its Centre for the Fourth Industrial Revolution India. âThink about it as a sort of âno-man-or-woman-left-behindâ policy,â he said. The pace of the industrialization depended on the local resources, political will and socio-economic situation of each individual European country. A third industrial revolution, beginning in the 1950s, saw the emergence of computers and digital technology. Whatâs more, 62% say they share bad experiences with others. Indeed, the 4IR is dramatically changing global systems of labor and production, requiring that job seekers cultivate the skills and capabilities necessary for adapting rapidly to the needs of African firms and automation more broadly. First, we discovered fire, then agriculture, wheels, then factories and trading which were followed by steam power, electricity and mass production. They are used in fields as wide-ranging as manufacturing, health and safety, and human assistance. Prime Minister Modi said that the components of the fourth industrial revolution will change the nature of jobs and provide more opportunities to the youth. The US-based software company will work … The Prime Minister informed that the Government is working to improve people’s lives and prepare the youth for changing technologies through schemes like Skill India, Startup India, Atal Innovation Mission (AIM), Digital India, and others. How to learn creativity? The fourth industrial revolution has begun: Now’s the time to join. Alvin has spent the last decade … The 4th industrial revolution is therefore not a prediction of the future, but a call to action. Artificial intelligence can be used to empower and enable differently-abled people. It will change the way how we live, communicate, how we produce and how we consume. New engines were used in France, Germany, Austria, Hungary, Sweden, and other western nations. Cheap and easy cast iron production led to easier processes to produce steel. This article shares details about Discussion on Fourth Industrial Revolution held in Rajya Sabha TV – In Depth program. In supply and logistics of many industries, we can notice the introduction of new technologies, enabling totally new ways of servicing for existing procurement … The industrial revolution came to India in 1854, when the first steam powered cotton mill in Asia, opened in Bombay. The end of the civil war led to a significant change transforming America from primarily an agrarian society to an industrial one. The Fourth Industrial Revolution heralds a series of social, political, cultural, and economic upheavals that will unfold over the 21st century. The advent of the steam engine in the 18th century led to the first industrial revolution, allowing production to be mechanized for the first time, and driving social change as people became increasingly urbanized. In a 2016 article, Schwab wrote that âlike the revolutions that preceded it, the Fourth Industrial Revolution has the potential to raise global income levels and improve the quality of life for populations around the world.â, He continued: âIn the future, technological innovation will also lead to a supply-side miracle, with long-term gains in efficiency and productivity. The third industrial revolution or the digital revolution refers to the advancement of technology from analog electronic and mechanical devices to the digital technology available today. âAs AI begins to impact the workforce and automation replaces some existing skills, weâre seeing an increased need for emotional intelligence, creativity, and critical thinking, for instance.â. In short, the fourth industrial revolution describes the huge changes brought about by smart technologies. The Fourth Industrial Revolution is a term which was coined by a gentleman by the name of Klaus Schwab, the founder and executive chairman of the World Economic Forum. Samsung and IBM Plan to Help Businesses Embrace the Fourth Industrial Revolution. Cotton exports grew during the American civil war, when supplies from the US were interrupted. A big plus for businesses is that they can collect customer data from constantly connected products, allowing them to better gauge how customers use products and tailor marketing campaigns accordingly. The Centre for the Fourth Industrial Revolution India was setup by the World Economic Forum as part of a network that includes the USA, China and Japan. At its core is the combination of big data, analytics and physical technology. There are also many industrial applications, such as farmers putting IoT sensors into fields to monitor soil attributes and inform decisions such as when to fertilise. The Fourth Industrial Revolution encompasses the Internet of Things, but goes beyond simple device connectivity toward being an Internet of Everything.   With fears about job security and how personal data is used creating a âcrisis in trust,â businesses need to demonstrate to consumers that their values and intentions are trustworthy. Our production processes had not really become smart and there were still a lot of legacy issues that crippled us. Another study shows that 59% of hiring managers believe that AI will impact the types of skills their companies need. At the end of 1895, there were 70 mills in India; growing to 83 in 1915. Speaking at the launch recently, Prime Minister Modi said that the Government has taken major initiatives for the fourth industrial revolution, over the last four years. It also paved the road for revolutionary changes in socio-economic, geo and domestic political changes, scientific advancements and new ways of thinking of ushering in the modern age. The Fourth Industrial revolution announced by Prime Minister Narendra Modi, is based more on Big Data, and Artificial Intelligence. Although India, which was a British colony, dominated the global cotton textile markets in the 18th Century, the Indian textile industry took a hit when the Industrial Revolution began in Great Britain. This led to the increasing automation of manufacturing and the disruption of industries including banking, energy, and communications. In 1870, this was followed by the establishment of an overall economic policy, and operation of certain industries. What exactly is the Fourth Industrial Revolution â and why should you care? Pointing to companies such as Dow, IBM, and Siemens, which are already investing in programs to help people to acquire new skills, Benioff called on CEOs to do more to âbuild the workforce of the future, while bringing along the workforce of today. If previous industrial revolutions were driven by steam or oil or communication, this latest Fourth Industrial Revolution (4IR) is very much driven by data. By 2030, Africa’s potential workforce will be among the world’s largest,[6] and so, paired with the needed infrastructure and skills for innovation and technology use, the 4IR represents a massive opportunity for growth. Although India, which was a British colony, dominated the global cotton textile markets in the 18th Century, the Indian textile industry took a hit when the Industrial Revolution began in Great Britain. âDonât just hire new talent â because if you donât create an internal environment where they can thrive, theyâll fail. AI and robotics are no longer science fiction. Though the previous three revolutions are considered to be … Salesforce.com Singapore Pte Ltd. 5 Temasek Boulevard #13-01 Suntec Tower 5 Singapore 038985.Â. Businesses have to adapt to this reality quickly. Artificial Intelligence. They enable computers to process vast amounts of data faster than ever before, while the advent of the âcloudâ has allowed businesses to safely store and access their information from anywhere with internet access, at any time. The Fourth Industrial Revolution is in equal parts an eye-opening assessment of emerging technologies, a sobering look at the potential negative impacts of transforming systems, and a hopeful call to action. Creativity is beyond writing the best-seller or painting the next Mona Lisa. The advent of the steam engine in the 18th century led to the first industrial revolution, allowing production to be mechanized for the first time, and driving social change as people became increasingly urbanized. Moreover, according to many the Fourth Industrial Revolution is the first industrial revolution with a rather unique potential – to affect and raise income on a global scale. Fourth Industrial Revolution. âDeploying AI will require a kind of reboot in the way companies think about privacy and security,â he said. Prime Minister Modi said that his government is open to policy changes to help reap the benefits of the new Centre. In 1925, there were 81 mills in the city. With businesses at the forefront of the Fourth Industrial Revolution, driving both innovation and social disruption, they must also play a pivotal role in ensuring that the needs of all stakeholders are met, and not just those of shareholders. The use of steam power in British mills reduced the cost of British cotton by 85%, making its textile goods internationally competitive for the first time. The digital currency Bitcoin is the best known blockchain application. Businesses will need to ensure they have the right mix of skills in their workforce to keep pace with the changing technology. The fourth industrial revolution is built on the third. The era started during the 1980’s, and is on-going. The industrial revolution was in fact the worst period for the Indian economy. He defines the world as a place where individuals use technology to make the move between offline reality and digital domains which enables them to manage their lives. The person who labeled todayâs advances as a new revolution was Klaus Schwab, Founder and Executive Chairman of the World Economic Forum and author of a book titled The Fourth Industrial Revolution. The two tech giants will enable enterprises to adopt technologies that are crucial to Industry 4.0, such as 5G, AI, cloud, IoT, AR (augmented reality) and more. The industrial revolution started in Britain during the 18. 3D printing allows manufacturing businesses to print their own parts, with less tooling, at a lower cost, and faster than via traditional processes. The IoT describes the idea of everyday items â from medical wearables that monitor usersâ physical condition to cars and tracking devices inserted into parcels â being connected to the internet and identifiable by other devices. This was followed by Samuel Crompton’s Spinning Mule. The industrial revolution took place over a period of roughly 250 years, starting in 1760 in England. However, the technology can be used in other ways, including making supply chains traceable, securing sensitive medical data anonymously, and combating voter fraud. The late 1700’s saw the revolution going into hyper drive with the ground-breaking steam engine, steam locomotives and ships. AI is used in many ways, from spotting patterns in huge piles of unstructured data to powering the autocorrect on your phone. The industrial revolution was one of the most significant game-changing periods of human history. Artificial Intelligence & Machine Learning. In the second industrial revolution, electricity and other scientific advancements led to mass production. It is important to note that India took decades before it started adopting modern industrial practices, like steam power and mechanized spinning and weaving in its textile manufacturing. Facebook Twitter LinkedIn Email Copy to Clipboard Together, the companies intend to explore new 5G, edge and hybrid cloud solutions to improve operational efficiency, safety, and flexibility for the enterprise. It will change the way how we live, communicate, how we produce and how we consume. . The fourth industrial revolution is sometimes referred to as “Industry 4.0”. Researchers in Stockholm, for example, are working on what is being touted as the strongest biomaterial ever produced. The Fourth Industrial Revolution is changing how we live, work, and communicate. … The Fourth Industrial Revolution, or 4IR, is the fourth major industrial era since the initial Industrial Revolution of the 18th century. âIn the coming decades, we need to establish guardrails that keep the innovations of the Fourth Industrial Revolution on a track to benefit all of humanity. JAKARTA – 26 November 2020 - The First Consultative Workshop on the Development of the Consolidated Strategy on the Fourth Industrial Revolution (4IR) for ASEAN took place on 25 November 2020 via videoconference. Aspiring European nations quickly began to import steam engines with the help of British engineers and industrialists. With the end of slavery, machines replaced traditional ways of production. The socio-economic and technological growth that followed is often termed as the second industrial revolution. According to Schwab, âthe changes are so profound that, from the perspective of human history, there has never been a time of greater promise or potential peril.â. Privacy | Responsible Disclosure | Trust | Contact. In several handicrafts, specialization of jobs had advanced to such an extent that particular classes of artisans, undertook distinct processes, and the finished products had a huge demand in foreign markets. Turkey launches center for 4th industrial revolution ANKARA- Anadolu Agency. The industrial revolution came late to India due to its complicated political and economic relationship with Great Britain. 2 The heterogeneity of jobs even within the same professional sector is great. Schwab also suggested the revolution could lead to greater inequality, âparticularly in its potential to disrupt labor markets.â Furthermore, the job market may become increasingly segregated into âlow-skill/low-payâ and âhigh-skill/high-payâ roles, which could escalate social tension. This often means an increased focus on continual learning, building more on-ramps to new types of jobs, and a commitment to diversity. © Copyright 2020 Salesforce.com, inc. All rights reserved. - Carl-Henric Svanberg, Chairman, BP, United Kingdom Being inclusive and human-centered the disruption of industries including banking, energy, manufacturing and retail and... The way we value and the disruption of industries including banking, energy, manufacturing the... This period introduced mass production lives in the Fourth industrial revolution as it known... And biological worlds they were two years ago, beginning in the future of work, businesses must more! About to embark on a massive digital and biological worlds in many ways, from spotting patterns in piles. More than ever leading force of the Salesforce blog of the 18th century in 1953, there were 70 in! An overall economic policy, and human assistance 5 Temasek Boulevard # 13-01 Suntec Tower 5 038985.Â! 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Inc. all rights reserved, social, political will and socio-economic situation of each individual European.! Rapid urbanization and increasing demand for labour he asserted that the revolution will take India to newer.... In our hands to proactively shape the 4th industrial revolution of the Fourth industrial revolution heralds a series of,... Use their personal or business information to help reap the benefits of the British easier to. The evidence of dramatic change is all around us and it is the upheaval of the.... The blurring of boundaries between the physical, digital and technological growth that followed often. Get our monthly newsletter for the Indian economy the concept of blurring the lines between the physical, digital and! 4Ir can do for us and how we consume s annual meeting in Davos, Switzerland time, numerous have... Of unstructured data to powering the autocorrect on your behalf see robot assistants in every home, advances. 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