The fourth industrial revolution and the future of manufacturing work in Australia: challenges and opportunities

2018 ◽  
Vol 28 (3) ◽  
pp. 166-181 ◽  
Author(s):  
Mark Dean ◽  
John Spoehr
Keyword(s):  
Industrial Revolution ◽  
Fourth Industrial Revolution ◽  
The Future ◽  
Challenges And Opportunities

scholarly journals Fourth Industrial Revolution and Future of Work in Asia

2021 ◽  
pp. 98-111
Author(s):  
Falendra Kumar Sudan
Keyword(s):  
Labour Market ◽  
Industrial Revolution ◽  
New Technologies ◽  
Skill Development ◽  
Economic Transformation ◽  
Vocational Education And Training ◽  
Future Of Work ◽  
Fourth Industrial Revolution ◽  
The Future ◽  
Challenges And Opportunities

The Fourth Industrial Revolution (4IR) has significant implications on the future of work and skills required in the gig economy. In the recent past, a large supply of young workers had led to rapid economic transformation in many Asian countries through well-suited education systems to create skills needed for employment. However, the old model of education and production will no longer sustain rapid growth in the decades ahead due to the rapidly changing demand for skills. Against the above backdrop, the paper has analyzed Asian experiences in technological transition, skills mismatches and labour market outcomes in the context of existing technical and vocational education and training (TVET) systems. What are the challenges and opportunities of the 4IR for skill development through TVET in Asia? The paper has suggested a model for 4IR compatible skill development for the future of the work and draws the implications for the future. 4IR induced massive job losses calls for adequate skills development or retraining of displaced workforce and new entrants in foundational skills to enable them to tap the opportunities of new technologies. This requires robust TVET systems to equip workers with new skills for emerging jobs, which can be possible by increasing the quality of program structure to meet the needs of labour market. The technical training should be integrated into with the secondary education through education reforms to impart skills to thrive in the knowledge economy. The system of quality apprenticeships should be evolved with the active collaboration of potential employers in the curriculum development of TVET programs.

scholarly journals HUMAN CAPITAL AND ITS ROLE IN THE FOURTH INDUSTRIAL REVOLUTION

2021 ◽  
Author(s):  
Yelyzaveta Snitko ◽  
Yevheniia Zavhorodnia
Keyword(s):  
Economic Growth ◽  
Human Capital ◽  
Labor Market ◽  
Technological Change ◽  
Industrial Revolution ◽  
Skilled Workers ◽  
Fourth Industrial Revolution ◽  
Modern Economy ◽  
The Future ◽  
The Impact

The development of a modern economy, in the context of the fourth industrial revolution, is impossible without the accumulation and development of human capital, since the foundation of the transformation of the economic system in an innovative economy is human capital. In this regard, the level of development and the efficiency of using human capital are of paramount importance. This article attempts to assess the role of human capital in the fourth industrial revolution. In the future, human talent will play a much more important role in the production process than capital. However, it will also lead to a greater division of the labor market with a growing gap between low-paid and high-paid jobs, and will contribute to an increase in social tensions. Already today, there is an increase in demand for highly skilled workers, especially in high-income countries, with a decrease in demand for workers with lower skills and lower levels of education. Analysis of labor market trends suggests that the future labor market is a market where there is simultaneously a certain demand for both higher and lower skills and abilities, combined with the devastation of the middle tier. The fourth industrial revolution relies heavily on the concept of human capital and the importance of finding complementarity between human and technology. In assessing the impact of the fourth industrial revolution, the relationship between technology, economic growth and human resources was examined. The analysis was carried out in terms of three concepts of economic growth, technological change and human capital. Human capital contributes to the advancement of new technologies, which makes the concept of human capital an essential factor in technological change. The authors emphasize that the modern economy makes new demands on workers; therefore it is necessary to constantly accumulate human capital, develop it through continuous learning, which will allow the domestic economy to enter the trajectory of sustainable economic growth. The need to create conditions for a comprehensive increase in the level of human capital development is noted.

Adjustment of enterprises to the requirements of the fourth industrial revolution – regional approach

2021 ◽  
Vol 66 (1) ◽  
pp. 32-48
Author(s):  
Andrzej Sokołowski ◽  
Małgorzata Markowska
Keyword(s):  
Experimental Research ◽  
Industry 4.0 ◽  
Industrial Revolution ◽  
Composite Indicator ◽  
Composite Indicators ◽  
Regional Approach ◽  
Fourth Industrial Revolution ◽  
The Future

The aim of the paper is to propose a composite indicator characterising the level of development of Polish NUTS 2 regions with respect to the implementation and results of the changes the fourth industrial revolution (Industry 4.0) entails, and to present a ranking of regions illustrating the degree to which enterprises have adjusted to the requirements of Industry 4.0. Data used for the calculations have been based on the results of an experimental research conducted by Statistics Poland (GUS) in 2019. Two methods for constructing the composite indicators have been used – classical and iterative which is to assess the indicator’s resilience to the influence of any potential outliers. 10 sub-criteria, covered by 21 variables have been taken into account. Opolskie region appeared to be the best NUTS 2 region in Poland in terms of the implementation of the requirements outlined by Industry 4.0. The evaluation of the proposed composite indicator will be possible when comparing it with the results of similar surveys carried out by GUS in the future.

Challenges and Opportunities for Shared Economies

2018 ◽  
pp. 1-11
Author(s):  
Chitrakalpa Sen ◽  
Surya Teja Adury
Keyword(s):  
Market Structure ◽  
Industrial Revolution ◽  
Sharing Economy ◽  
Emerging Nations ◽  
Fourth Industrial Revolution ◽  
Challenges And Opportunities ◽  
Unique Nature ◽  
Factors Of Production ◽  
Information Barrier ◽  
Regulatory Challenges

Shared economy or access economy has ushered in a new revolution. It is often mentioned that the fourth industrial revolution will be propagated by sharing economies. This study reviews the nature of shared economy and its impacts. It focuses on the challenges posed by access economy, especially in context of emerging nations. It discusses the unique nature of trust as a construct, the potential of sharing economy platforms to reduce the information barrier, the changing nature of relationship with the factors of production and most importantly, the regulatory challenges in this particular market structure.

Is Malaysia Ready for the Fourth Industrial Revolution?

2018 ◽  
pp. 41-64 ◽  
Author(s):  
Mathew Maavak ◽  
Aini Suzana Ariffin
Keyword(s):  
Automotive Industry ◽  
Industrial Revolution ◽  
Automotive Sector ◽  
Traditional Role ◽  
Fourth Industrial Revolution ◽  
Global Innovation ◽  
The World ◽  
Challenges And Opportunities

Malaysia intends to ride on the crest of the coming i.4.0 wave. According to the 2016 GE Global Innovation Barometer study, a significant number of Malaysian executives felt positive about embracing i4.0 vis-a-vis their global peers. On the surface, Malaysia appears ready for its own i4.0 revolution. According to the WEF's Networked Readiness Index on digital readiness, Malaysia was ranked 6th in terms of having the most tech-savvy government in the world. The automotive sector is ideally suited to kickstart the i4.0 revolution as it was traditionally regarded as the “industry of industries” – particularly due to its traditional role in spearheading wider, cross-sectoral industrialisation. However, Malaysia is not yet ready to embrace the 4th Industrial Revolution. This chapter discusses the obstacles, challenges, and opportunities facing i4.0 uptake in the Malaysian automotive industry. It ends by recommending a unique pathway for i4.0 adoption in the sector.

Disruptions of the Fourth Industrial Revolution

2021 ◽  
pp. 189-199
Author(s):  
Idris Olayiwola Ganiyu ◽  
Ola Olusegun Oyedele ◽  
Evelyn Derera
Keyword(s):  
Artificial Intelligence ◽  
Technological Innovation ◽  
Industrial Revolution ◽  
Technological Innovations ◽  
Fourth Industrial Revolution ◽  
Skill Gaps ◽  
The World ◽  
The Future ◽  
The Impact ◽  
And Robotics

The Fourth Industrial Revolution has resulted in the disruption of the world of work whereby technological innovation such as artificial intelligence (AI) and robotics. These disruptions may be creative in that as some jobs are lost due to the development of artificial intelligence, new ones are created. This chapter explored the impact of disruptive technological innovations on the future of work. The skill gaps brought about by the emergence of the Fourth Industrial Revolution was also explored in this chapter.

Corporate Governance and the Future of Work, Work-Family Satisfaction, and Employee Well-Being

2021 ◽  
pp. 1-11
Author(s):  
Alfred Kent Van Cleave
Keyword(s):  
Corporate Governance ◽  
Industrial Revolution ◽  
Work Satisfaction ◽  
Well Being ◽  
Family Satisfaction ◽  
Future Of Work ◽  
Fourth Industrial Revolution ◽  
The Future ◽  
Work Family

This chapter examines the issues of work satisfaction, employee well-being, and the future of work from the perspective of and as impacted by two prominent and contemporary models of corporate governance. It begins with an examination of work satisfaction and leadership, informed by motivation, leadership, and workplace attachment theories, then discusses how these theories have been impacted by changes in corporate governance. Present-day implications of corporate governance on work satisfaction and well-being are examined, followed by the implications of these considerations for the future of work in the fourth industrial revolution.

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