“Every Industrial Revolution Brings Along A Learning Revolution”
We all are familiar with the term “Industrial Revolution”, at the same time many of us are witnesses of revolutionary ups and down.
Revolutions demand enormous sacrifices and at the same time create a new need to change the world again.
We already came to know that a huge revolutionary change will stand in front of us and We’ll enter into the 4th industrial revolution very soon.
I think this change will happen today or tomorrow with the help of 5g technology, As you can see how fast we create a new world, where being “Digital” is the only solution to everything.
A simple example for all of you. What you have learned from COVID-19, the unbitten pandemic situation that still can’t overcome worldwide?
Although the whole world has become obsolete, here technology still keeps the entire world active.
And if you notice carefully how fast technology works at that moment!!
Now, You already know everything happens through the Internet.
If a 4g technology can handle the total world that way, can you imagine what will happen if we will enter the new revolution through 5g technology?
History Behind Every Industrial Revolution Across The Technology
The First Industrial Revolution started in Britain around 1760. It was powered by a major invention- the steam engine. The steam engine enabled new manufacturing processes, leading to the creation of factories.
The Second Industrial Revolution came roughly one century later and was characterized by mass production in new industries like steel, oil, and electricity. The light bulb, the telephone, and the internal combustion engine were some of the key inventions of this era.
Now you can ask when did the technological revolution start?
Though it’s hard to say that the 3rd revolution started with technology, technology actually was a process of changing that revolution.
The inventions of the semiconductor, the personal computer, and the internet marked the Third Industrial Revolution starting in the 1960s.
Krieger said the Fourth Industrial Revolution is different from the third for two reasons: the gap between the digital, physical, and biological worlds is shrinking, and technology is changing faster than ever.
This is also referred to as the “Digital Revolution” or “Tech revolution.”
4th Industrial Revolution Challenges
We stand on the stage of technological revolution change that fundamentally controls our lives, works, and connections.
We never know what kind of changes will come in the future, but how can you deny a proven prediction over and over?
The revolution of global industries in the fourth industrial revolution is both exciting and scary.
Life will change rapidly with the technological revolution like- AI, Blockchain, Nanotechnology, Computing, Robotics, IoT, Automation, and others.
New technology, new challenge….
So, what kind of challenge can you face in the 4th industrial revolution?
After the 3rd revolution which triggered by the Internet and computing, the 4th industrial revolution will be triggered by Big data, Automation, IoT and more advanced technology.
In the 4th Industrial Revolution, more and more people are aware of the challenges of job losses and unemployment. Many people may have to re-train several times during their working life, which will lead to a growing demand for education and training.
At present, most of the education, service, and others provided by the internet.
Employees are differently exposed to automation depending on the position they hold and on their tasks.
Routine jobs with a high volume of tasks related to information exchange, sales, data management, manual work, product transfer and storage, constructions, and office work are more exposed to the risk of automation.
The fourth industrial revolution can raise total earning strategy by allowing entrepreneurs to “RUN” and “EARN” with their ideas.
As fast as you can adapt those techniques to become your own boss, become a successful entrepreneur, the more you will achieve your goals throughout this upcoming technology.
Most importantly as a digital entrepreneur, you have to learn the uses of technology or the Internet of Things (IoT).
In the future, 5g technology will lead tomorrow’s world, business, the economy with a long-term master plan and actions, And this industrial revolution will become more effective and the cost of trade will diminish and drive more economic growth.
Opportunities Of Fourth Industrial Revolution
The secret of success is to be ready when a new opportunity comes and you have the ability to cope up with it.
Technology opens up opportunities to you and you either take them or you stay scared of taking them.
We are in the 3rd industrial revolution and with 5G technologies and the trend, you will learn more.
Imagine the future where new cars are designed not by people, but by computers analyzing hundreds of sensors on an old car as it drives around, and then the new version is 3D printed ready to be delivered to the showroom.
I strongly believe that these innovations will make the industry and the world stronger and better.
For people, this industrial revolution can be hard or can be easier.
Be prepared, because this revolution change is a must, maybe it will happen today or tomorrow or it can be changed after five, ten or twenty years.
You just need to grab the knowledge of technology, digitalization, connection, and the Internet of things.
As difficult as it may be, the future of work looks very different from the past.
I believe people with bravery, creativity, and entrepreneurial spirit will embrace this future comfortably.
People can be better at their jobs with the technology of today and the technology that is yet to come rather than fearing that their human skills will be devalued.
Impact On Business
According to the previous record, every industrial revolution impacts business, either in a positive way or negative way.
‘Human work’ is at the end of the 4th industrial revolution, AI will stand in the way of every working segment to build new industries.
In that case, every business will be affected and some of them will hold positivity because uses of more technology in business will survive in the long run.
AI will stand in the way of every working segment to build new industries.
Now it is how we can combine all these technologies with this massive computing power.
So it’s not just a digital transformation, actually, it’s an intelligence transformation.
You could research, analyze, and publish more per day, per minute, because AI would increase the way you go out and find information.
It would tell you what’s going on and collect the data, suggest new things to do with it.
On the whole, there are four main effects that the Fourth Industrial Revolution has on business – on customer expectations, on product enhancement, on collaborative innovation, and on organizational forms.
Whether consumers or businesses, customers are increasingly at the epicenter of the economy, which is all about improving how customers are served.
Physical products and services, moreover, can now be enhanced with digital capabilities that increase their value.
New technologies make assets more durable and adaptable, while data and analytics are transforming how they are maintained.
A world of customer experiences, data-based services, and asset performance through analytics, meanwhile, requires new forms of collaboration, particularly given the speed at which innovation and disruption are taking place.
And the emergence of global platforms and other new business models, finally, means that talent, culture, and organizational forms will have to be rethought.
The Impact On Government
New innovation and rapid adoption of new technologies push the traditional government to its limit:
Governments must be more data-driven, people-focused, and intelligent than ever before.
But what does intelligence mean in terms of government?
Intelligence requires governments to be “future-savvy”, relevant and proactive.
What challenges and opportunities do technology advances add to the government when the digital industrial revolution will come?
- Policymaking around evolving technologies
- Ethical concerns
- Inequality and access
- Unemployment caused by automation
- Increased efficiency of public services
- Data-driven decision making
- Productivity improvements from automation
- Increased collaboration between governments and citizen
Business Strategies For Future-Proof
The industrial revolution was another one of those extraordinary jumps forward in the story of civilization.
If you start searching for the knowledge about the previous industrial revolution, you will see, in 3rd IR(2001) there were a lot of industrial companies taking place on top listed companies and you won’t find even one of the tech companies there.
Those companies are-
Exxon Mobil Corporation, Wal-Mart Stores, Inc. , General Motor Company, Ford Motor Company, DaimlerChrysler A.G and others.
But what if you start knowing about today’s top listed company in the world… You will be amazed that most tech companies are leading successfully.
Those Companies are-
Walmart, Amazon, Exxon Mobil, Apple, CVS Health and others.
So, what will be your priority to organize your business with new technology?
Firstly, you have to be workable with digital technology, Business often wants to be seen as innovative- but it’s critical that they actually back that belief up with substantial action.
Secondly, you have to be more productive than before, your business maintenance, your company person should be more creative, smarter, and potential to take any step with technology.
Thirdly, you should replace traditional business functionalities with digitalization. Jobs and functions that can be replaced by automation and robotics. Let’s be honest, They are being replaced right now.
It may be the common curiosity of all of us, how will technology look like in the future?
I believe AI will transform our world and how we live in it.
It’s already used in our everyday lives from Google searches to powering Amazon’s product recommendations and the personalized suggestions you get from Netflix and Spotify as well as in the security process for fraudulent credit card use.
AI and machine learning are also the foundation of which many other technology trends are built.
AI gives machines the ability to carry out a wide range of human-like processes, such as seeing (facial recognition), writing (chatbots), and speaking (Alexa).
AI will infiltrate even more of our lives as the ability for machines to act intelligently gets better and better.
The IoT will describe the idea of everyday items from medical wearables that monitor users’ physical condition to cars and tracking devices inserted into parcels being connected to the internet and identifiable by other devices.
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. 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 fertilize.
So, total technology will change where we live today, we will never live in the same place tomorrow.
How Do We Adapt the Fourth Industrial Revolution
The fourth industrial revolution will be a new chapter in human development.
It will represent a fundamental way we live, work, and relate to one another.
With the world becoming increasingly more connected, businesses must adapt.
Business leaders need to move away from traditional ways of working in order to unlock innovation and remain competitive, and this requires a significant shift in mindset.
So how do we adapt our changes for the 4th industrial revolution?
- We have to develop our engagement through technology
- Quickly adapt to changing leadership style
- Reinventing labor, skills, and production
In order to thrive, business leaders will have to actively work to expand their thinking away from what has been traditionally done and include ideas and systems that may never have been considered. Business leaders must begin questioning everything, from rethinking their strategies and business models to discovering the right investments in training and potentially disruptive R&D investments.
The future is happening around us. And we must rise to the challenge to meet it and thrive in the new industrial revolution.
In the coming decades, we need to establish our skills that keep the innovations of the Fourth Industrial Revolution on track to benefit all of humanity.
We can all individually have a direct role in shaping our future and creating economic opportunities for millions of people by investing our time and resources connecting with technology.
I’m Hemi Hossain, A digital entrepreneur coach, I have a dream to establish an entrepreneurial empire and I genuinely want to help you all to create something new and digital which will easily fit with the 4th industrial revolution and digital technology.
In the Fourth Industrial revolution business will rule the world, everyone will become an entrepreneur, everyone will want to be their own boss, but at the end of the day, only 10% Will become a successful digital entrepreneur.