How to get exponential growth in a shorter period of time?
The breach among the digital, physical and biological worlds is dwindling rapidly. The technologies are shifting faster than ever. These are the two reasons which make difference between Third and Fourth Industrial Revolution. Technology is constantly evolving & changing which is challenging traditional business models, and it is now happening at a quicker pace and in ways that can be difficult to anticipate & visualize.
Next wave of industry 4.0
It would be along with unstoppable forces that disrupt everything. We are passing through the 2nd wave (2016-2025) of industry 4.0. We will have to embrace the following ongoing trend of technologies’
The Artificial intelligence (AI) is validated through machines different from the natural intelligence demonstrated by humans. This is skill of system to rightly understand the data, to acquire from such data and to practice those studies to attain exact objectives and jobs. Several AI algorithms are accomplished of learning from data. AI techniques have practiced recovery next parallel developments in computer supremacy, big amounts of data, and hypothetical understanding. The AI techniques have become an important share of the technology industry. It helps to resolve various challenging problems in software engineering, computer science, and operations research.
The Block chain is strength for new type of Internet. It is a just a digital ledger of financial transactions which may be automatic to record not fair monetary transactions but nearly everything of value. This shows a rising list of record called blocks that are linked using cryptography. Today’s most industries like IoT, insurance, education record, voting, charity, government, health care, and retail may be disrupted by the Block chain. Block chain was the means and the decentralization was the idea.
The Quantum computing practices definite algebraic methods to improve algorithms for computations. These algebraic methods are the ones or in parallel to the ones that are useful in quantum mechanics. Quantum reproduction could also be used to pretend the behavior of atoms and particles at uncommon conditions such as the reactions inside a collider.
It is the availability of computer system resources particularly the data storage. Data centers for users are available on internet so the term is used to describe those data centers. The cloud computing believe on sharing of resources to accomplish unity and thrifts of scale. The aim of cloud computing is to permits users to take advantage from all of these technologies, without the necessity for bottomless information about or knowledge with each one of them. The Cloud computing practices concepts from service computing to provide metrics for the services used. The Cloud computing goes to address quality of service and reliability problems of other grid computing models
Robots are machines skilled of functioning automatically for a compound series of actions. The H2M Robotics in future, by developing the robot, EPCOs will utilize it on live high voltage line to (1) decrease the power outage, as well as operation and care costs, (2) save resources and time, (3) prevent the electrical interruptions caused by contacting trees and animals with overhead lines and (4) increase the power network reliability, significantly.
This is the detention of energy formed at one time to consume at a future time. Technologies provide short-term and long term solution for Energy storage. Energy storage contains changing energy from systems that are tough to store to more suitably or carefully storable forms. The control of waterways to drive water mills for processing grain or powering machinery is a classic application of energy storage before the industrial revolution.
Developed countries have made a great progress by embracing these technologies to boost their economies. We are way behind the developed countries. Mark Frissora, Ex-CEO The Hertz Corporation truly said “When a new technology emerges, companies need to decide almost immediately whether to adopt it or they could risk being destroyed by it.”
Issue and Concerns
Various authorities advise for a “winner-take-all economy,” where high-skilled employees are salaried with high pay, and the rest of workers are left behind.
Investment firm UBS report in 2018 established tycoons have determined nearly 80 percent of the 40 main development innovations over the past four decades.
Schwab forecast in 2016, disparity would be the utmost societal concern connected with the Fourth Industrial Revolution.
Industry 4.0 strategy for developing countries
Andrew Ng (Computer scientist, businessman and writer) has suggested a brightest strategy for developing countries that have dropped behind in the technology competition.
The idea is to skip over the intermediary technologies and leapfrog into the future by implementing technologies of industry 4.0..
It is quite possible to attain exponential growth in a shorter period of time with this approach.
Leap frogging strategy
Actually it was a military strategy during World War II working by the Allies in the Pacific War against the Empire of Japan and the Axis powers. The significant idea is to bypass deeply encouraged enemy islands instead of trying to capture every island sequential en route to a final target. The reasoning is that those islands may just be removed from their supply chains rather than demanding to be overcome by larger force, therefore acceleration the development and reducing losses of troops and substantial. Leapfrogging strategy would permit the United States militaries to extent Japan rapidly and not spend the time, manpower, and supplies to capture every Japanese-held island on the way.