The breach among the digital, physical, and biological worlds is dwindling rapidly. Technologies are shifting faster than ever. These are the two reasons which make difference between the Third and Fourth Industrial Revolutions. 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’
Artificial intelligence (AI) is validated through machines different from the natural intelligence demonstrated by humans. This is the skill of the 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 by learning from data. AI techniques have practiced recovery next parallel developments in computer supremacy, big amounts of data, and hypothetical understanding. 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 Blockchain is a strength for a new type of Internet. It is 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 records 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 Blockchain. Blockchain was the means and decentralization was the idea.
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 data storage. Data centers for users are available on the internet so the term is used to describe those data centers. Cloud computing believes in sharing of resources to accomplish unity and thrifts of scale. The aim of cloud computing is to permit users to take advantage of all of these technologies, without the necessity for bottomless information about or knowledge with each one of them. Cloud computing practices concepts from service computing to provide metrics for the services used. Cloud computing goes to address quality of service and reliability problems of other grid computing models
Robots are machines skilled at 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 solutions 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 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 the workers are left behind.
- Investment firm UBS report in 2018 established tycoons has determined nearly 80 percent of the 40 main development innovations over the past four decades.
- Schwab forecast in 2016, the 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 the 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.
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 a larger force, therefore accelerating the development and reducing losses of troops and substantial. The 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.