scholarly journals The Characteristics of the Fourth Industrial Revolution: Buzzword, Hype or a Radical Change?

E-conom ◽  
2020 ◽  
Vol 9 (1) ◽  
pp. 91-104
Author(s):  
László Koloszár ◽  
Nikoletta Németh
Keyword(s):  
Industry 4.0 ◽  
Industrial Revolution ◽  
German Economy ◽  
Radical Change ◽  
System Level ◽  
High Tech ◽  
Fourth Industrial Revolution ◽  
World Economic ◽  
The Impact ◽  
Industrial Revolutions

The usage of the terms the ’Fourth Industrial Revolution’ and its predominantly used synonym ‘Industry 4.0’ has curved upwards at a higher rate than the number of underlying interconnected production units. The concept of Industry 4.0 originates from a project on the high-tech strategy of the German government in 2011. This project promoted the computerization of manufacturing and it was a logical suggestion for the long-term competitiveness of the German economy. The fundamentals of an export-oriented economy need system-level development not to be disadvantaged in the global competition. Building all this on the most modern technologies can be defined as a traditional step. The umbrella term ’Industry 4.0’ has outgrown this step and in 2016 it became an independent agenda item of the World Economic Forum. In this study, with the help of a literature review, we examine which factors of this so-called fourth industrial revolution are similar and which factors are different compared to the previous industrial revolutions. Can the characteristics of industrial revolutions be identified? Is the impact complex and does it influence not only the technology but also the society, the politics, etc.? Whether the use of the term is substantiated or is it only an advanced, fashionable buzzer hanging all today’s forward-looking innovations on the same peg?

scholarly journals THE FOURTH INDUSTRIAL REVOLUTION AND EMPLOYMENT MODIFICATION IN UKRAINE

2020 ◽  
pp. 13-18
Author(s):  
Emiliia Prushkivska ◽  
Artem Tkachuk
Keyword(s):  
Labour Market ◽  
National Economy ◽  
Industry 4.0 ◽  
Industrial Revolution ◽  
Youth Unemployment ◽  
Comparison Method ◽  
State Funding ◽  
Fourth Industrial Revolution ◽  
The Impact ◽  
Industrial Revolutions

Purpose. The aim of the article is to assess the impact of Industry 4.0 on employment in Ukraine and the world. The following tasks are set to achieve this goal: to analyse the historical impact of industrial revolutions on employment, including the characteristics of changes in its structure, as well as professional composition; highlight how the fourth industrial revolution differs from the previous three; consider the structure of available vacancies in Ukraine and assess how the national labour market is subject to automation. Methodology of research. This article uses the historical and logical unity method to analyse the impact of industrial revolutions on employment, as well as a comparison method to highlight the distinguishing features of Industry 4.0. A graphical method is applied to assess the sectorial structure of vacancies prone to automation in Ukraine. Findings. Industry 4.0 has been found to have common and distinctive features of the impact on employment with the previous three industrial revolutions. The structure of employment at different historical stages is analysed. It was found out that its structure is actively changing now; new professions and whole branches of application of human labour are appearing. The structure of the labour market in Ukraine is considered. It has been proved that Industry 4.0 can exacerbate inequalities between different sections of the population and lead to the disappearance of a large number of occupations, which today employ half of the workforce of national economies. Originality. An analytical approach to the definition of professions that are most prone to automation in the context of the fourth industrial revolution in the Ukrainian labour market has received further development. This approach simultaneously takes into account modern foreign practices and the national statistical base. Practical value. The obtained results in the course of the study can be used in the development of state programs to support employment in the national economy. Since people will require retraining and additional training due to the special propensity of their professions to automation and computerization. In addition, the obtained data can be used to determine the priority areas of state funding for educational institutions, which in the future will reduce youth unemployment. Key words: employment, the fourth industrial revolution, Industry 4.0, national economy, influence, industry structure, automation, computerization.

scholarly journals THE IMPACT OF TECHNOLOGIES OF THE INDUSTRY 4.0 ON INCREASE OF PRODUCTIVITY AND TRANSFORMATION OF INNOVATIVE BEHAVIOR OF THE INDUSTRIAL COMPANIES

2020 ◽  
Vol 11 (2) ◽  
pp. 132-149
Author(s):  
A. V. Trachuk ◽  
N. V. Linder
Keyword(s):  
Industry 4.0 ◽  
Industrial Revolution ◽  
New Technologies ◽  
Critical Mass ◽  
Innovative Activity ◽  
High Tech ◽  
Innovative Behavior ◽  
Fourth Industrial Revolution ◽  
Industrial Companies ◽  
The Impact

Paper is devoted to interrelation research between investments in technology of the fourth industrial revolution, patterns of innovative behavior and productivity of the Russian industrial companies. Research is conducted on the basis of data of 576 industrial companies (874 respondents).At the first investigation phase it is confirmed that technologies of the industry have the greatest impact on increase of productivity and transformation of industrial production 4.0: robotics, Internet of things, additive production, big data and analytics, cybersecurity. Besides, effects of introduction of technologies of the fourth industrial revolution are defined: financial, valuable, operational, innovative and technological development.At the second investigation phase the interrelation analysis between investments is carried out to technologies of the industry 4.0, patterns of innovative behavior and productivity of the industrial companies with use of the modified CDM model. The received empirical results have shown that investments of the industrial companies in technology of the fourth industrial revolution increase productivity with elasticity 0,28 for high-tech industries; 0,21 – for the middle-technology, and 0,14 – for low-technology.Investments in innovative activity have elasticity range from 0,04 (for low volumes of investments in new technologies) to 0,17 (at the high volumes of investments); the relations between investments in an innovation and growth of productivity aren't linear and have stable positive relation only after a certain critical mass of investments in new technologies is reached. Considerable influence on interrelation of investments in innovations and productivity is rendered by the characteristic of branch in which the company works: the firms working in high-tech industries, not only put in new technologies, innovative activity more, but also have more high efficiency caused by scientific researches and development; the companies of low-technology branches have negative elasticity of investments in innovations and productivity that is connected with influence of effect of unprofitability of investments into innovations (appropriability effect), that is the additional profit on investment isn't essential.

THE FOURTH INDUSTRIAL REVOLUTION (INDUSTRY 4.0) A SOCIAL INNOVATION PERSPECTIVE

2018 ◽  
Author(s):  
Klaus Schwab
Keyword(s):  
Industry 4.0 ◽  
Industrial Revolution ◽  
Social Innovation ◽  
Holistic Approach ◽  
Socioeconomic Impact ◽  
Fourth Industrial Revolution ◽  
Technological Developments ◽  
Rapid Pace ◽  
Sustainable System ◽  
Industrial Revolutions

The rapid pace of technological developments played a key role in the previous industrial revolutions. However, the fourth industrial revolution (Industry 4.0) and its embedded technology diffusion progress is expected to grow exponentially in terms of technical change and socioeconomic impact. Therefore, coping with such transformation require a holistic approach that encompasses innovative and sustainable system solutions and not just technological ones. In this article, we propose a framework that can facilitate the interaction between technological and social innovation to continuously come up with proactive, and hence timely, sustainable strategies. These strategies can leverage economic rewards, enrich society at large, and protect the environment. The new forthcoming opportunities that will be generated through the next industrial wave are gigantic at all levels. However, the readiness for such revolutionary conversion require coupling the forces of technological innovation and social innovation under the sustainability umbrella.

scholarly journals THE IMPACT OF THE COVID-19 PANDEMIC ON INDUSTRY 4.0 IN THE CONTEXT OF GLOBAL ECONOMIC DEVELOPMENT

InterConf ◽  
2021 ◽  
pp. 54-59
Author(s):  
Bohdana Hunko
Keyword(s):  
Economic Development ◽  
Industry 4.0 ◽  
Global Economy ◽  
Industrial Revolution ◽  
Negative Consequences ◽  
Negative Effects ◽  
Technology Industry ◽  
World Economic ◽  
The Impact

The paper analyzes the role of Industry 4.0 in the process of overcoming the global economy from the crisis situation associated with the total Covid-19 pandemic. The aspect of economic profitability of using the technologies of the fourth industrial revolution to improve world economic development in the context of the Covid-19 pandemic was also identified. The author identified the positive and negative consequences of the involvement of technology Industry 4.0, on the basis of which a number of recommendations for small and medium-sized businesses were formed in order to quickly overcome the negative effects of the crisis. Based on the work, the author formulated a number of trends and prospects for global economic development, taking into account the current conditions of the Covid-19 pandemic.

The Impact of Cryptocurrencies on the General Powers and Duties of South African Insolvency Practitioners

2021 ◽  
Vol 33 (2) ◽  
pp. 289-318
Author(s):  
Sidasha Singh ◽  
Juanitta Calitz
Keyword(s):  
South African ◽  
Industry 4.0 ◽  
Industrial Revolution ◽  
Insolvency Law ◽  
International Courts ◽  
Fourth Industrial Revolution ◽  
Legal Position ◽  
The Subject ◽  
Regulatory Model ◽  
The Impact

Within the context of the fourth industrial revolution, cryptocurrencies pose several challenges in the framework of corporate insolvency law. In South African law, no statutory framework vis-à-vis cryptocurrencies, such as Bitcoin, currently exists. This has however not prevented entities from engaging in the cryptocurrency market. The specific dilemma is that insolvency practitioners do not have legislative guidelines to assist them in dealing with the subject of cryptocurrencies. Consequently, international judicial developments must be consulted and analysed with the aim to close the gap between the legislature and Industry 4.0. This article unpacks the South African legal position on cryptocurrencies within the context of the statutory powers and duties of insolvency practitioners. It engages in an analysis of selected international courts cases that have dealt with the concept of cryptocurrencies within the context of insolvent estates and continues to make recommendations for the development of an efficient and effective regulatory model.

Industry 4.0 and Sustainability

2020 ◽  
pp. 67-84
Author(s):  
Sibel Yildiz Çankaya ◽  
Bülent Sezen
Keyword(s):  
Sustainable Development ◽  
Global Warming ◽  
Natural Resources ◽  
Industry 4.0 ◽  
Business Models ◽  
Industrial Revolution ◽  
New Business ◽  
The Impact ◽  
Industrial Revolutions ◽  
New Business Models

Modern industry developed over several centuries and three industrial revolutions. Today, we experience the fourth era of the industrial revolution, Industry 4.0. The advance of industrialization brought along many problems, including environmental pollution, global warming, and depletion of natural resources. As a result, the concept of sustainability began to gain importance. Sustainability can be achieved through a balance between economic, social, and environmental processes. In order to establish such balance, businesses need new business models or insights. At this point, Industry 4.0 can be regarded as a new business mindset that will help businesses and communities move towards sustainable development. The technologies used by Industry 4.0 bear a strong promise to solve these problems, after all. Even though Industry 4.0 attracts a lot of attention lately, few works are available on its impact on sustainability. This chapter examines the impact of Industry 4.0 on sustainability.

scholarly journals Contributions of muslim scientists to the 4th industrial revolution

2020 ◽  
Author(s):  
Hendro Wicaksono
Keyword(s):  
Artificial Intelligence ◽  
Business Education ◽  
Golden Age ◽  
Industry 4.0 ◽  
Industrial Revolution ◽  
Fourth Industrial Revolution ◽  
Enabling Technologies ◽  
History Of ◽  
Islamic Golden Age ◽  
Industrial Revolutions

The preprint is a presentation about the contributions of Muslim scientists to technology enabling the fourth industrial revolution. First, the presentation illustrates the industrial revolutions and their enabling technologies, and then it focuses on the industry 4.0 technologies by highlighting the history of artificial intelligence. It continues with the flashback of the contributions of scientists from the Islamic Golden Age to technologies used in industry 4.0, such as mechanics, automation, robotics, and IT. The presentation presents the works of Banu Musa, Al-Jazari, and Al-Khawarizm. Then, the presentation gives an overview of the implications of industry 4.0 on business, education, entrepreneurship, and leadership. Finally, the presentation presents the challenges and opportunity of current Muslim scientists and communities in facing the industry 4.0 era.

scholarly journals The Impact of the Covid 19 Pandemic on the Development of the Fourth Industrial Revolution in Southern Africa

2021 ◽  
Vol 9 (1) ◽  
pp. 56-63
Author(s):  
Elizabeth Ojo-Fafore ◽  
◽  
Clinton Aigbavboa ◽  
Wellington Thwala
Keyword(s):  
Southern Africa ◽  
Human Activities ◽  
Industrial Revolution ◽  
Economic Sector ◽  
African Region ◽  
Fourth Industrial Revolution ◽  
Wide Range ◽  
The World ◽  
The Impact ◽  
Industrial Revolutions

The fourth industrial revolution (4IR) is gradually gaining momentum in a wide range, and as it gathers pace, innovations are becoming faster, more efficient, and widely accessible than before. However, due to the outbreak of Covid 19, the world had seen a shift in the traditional ways in all aspects of human activities, especially in the socio-economic sector. This paper explores the effect of Covid19 on the development of the fourth industrial revolution in the Southern African region and will review the literature on pandemic and its effect on industrial revolutions. It will also review the literature on the fourth industrial revolution, the spread of the Covid 19 pandemic, and its effect on the development of the fourth industrial revolution in Southern Africa.

scholarly journals Transformation of the world job market in the conditions of the Fourth Industrial Revolution

2021 ◽  
pp. 8-28
Author(s):  
Elena Viktorovna Shirinkina
Keyword(s):  
Industry 4.0 ◽  
Business Models ◽  
Industrial Revolution ◽  
Job Market ◽  
Scientific Publications ◽  
Job Management ◽  
Business News ◽  
Fourth Industrial Revolution ◽  
The World ◽  
The Impact

The relevance of this research is substantiated by the fact that the world job market is currently under the influence of the Fourth Industrial Revolution (Industry 4.0). The goal lies in assessing the impact of cyclic and unexpected trends upon the job market, and thus, the forms of job management and employment functions. In this regard, analysis is conducted on the academic theories in the context of conceptualization of the impact of Industry 4.0 upon the job market and employment functions. The long-term trends in transformation of the job market are determined. The empirical basis of this research is comprised of the statistical data provided by Rosstat and the Ministry of Science and Higher Education of the Russian Federation, as well as the resources of analytical articles and scientific publications, including the materials of international organizations, leading consulting companies, global associations, leading educational institutions, other active participants of global educational environment, and job market experts. An overview is given to the trends that affect the companies, their strategies and business models; the impact of such trends upon the transformation of current professions and the emergence of new professions; skills required for these professions. The scientific novelty lies in substantiation of the concept of skill-biased technical change (SBTC) and the theory of routine-biased technological change (RBTC). The presented materials would allow the companies to combine business news with fundamental training of specialists for going along the new career trajectiory in light of the new technological challenges, which defines the practical value of this research.

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