The 4th Industrial Revolution in Organisations

4^th Industry Revolution Defined

The term 4^th industry is a widely used term, can be considered as the recent trend in which automation and data exchange in terms of manufacturing technologies. The 4^th Industrial revolution includes cyber-physical systems, Internet of things, Artificial Intelligence which can be considered as cloud computing and cognitive computing. It can also be referred to as Industrie 4.0. it continues to grow within industries.

4^th Industry Revolution Background

It is stated that the first to the third industry has taken place for over 200 years, the first industrial revolution that took place was more focused on mechanical looms which were driven by steam engines, the second industry took place about 100 years later in the slaughterhouses, climaxing at the production of the Ford Model T, and the third took place in 1967 which led to the first programmable logic controller which allowed automation systems to take place. While the 4^th and current industry leads to the introduction of internet technologies in the working environment.

4^th industry revolution now

The 4^th industrial revolution may have a negative impact in terms of creating inequality within the global, while also increasing the use of Artificial intelligence within the economy, this may have a negative impact on the comparative and competitive advantage, which is mostly the case in most of the organisations.  It will bring challenges such as job loss for individuals as most organisation may tend to look towards robots or artificial intelligence.

Priorities in the next 1-2 years

Individuals who had conducted the interview had emphasized that the most important factor that one had to consider within in the next 1-2 years, would be digital delivery, this was according to 37% of the participants.  Connected and linked data was one of the most mentioned by the interviewees as individuals assume that getting external and internal data to work together is an essential part for organisations, most interviewees also emphasized more innovation in the same per as connected data, in both technical and tools which will lead to more effective and efficient for an organisation.  Mobile First is also considered as a vital point in terms of getting more data available at all required time. Big Data was also seen as an important factor to consider as it can impact and influence information teams in a firm. Lastly information vendors as the interviewees felt that there less barriers preventing new entrants of vendors. As such organisations need more targeted sales.

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