Fourth Industrial Revolution; Would Pakistan be a Potential Winner or Loser?

2018 ◽  
Author(s):  
Ghulam Rasool Madni
Keyword(s):  
World Economy ◽  
Industrial Revolution ◽  
First Century ◽  
Existing Problems ◽  
Fourth Industrial Revolution ◽  
Large Numbers ◽  
Challenges And Opportunities ◽  
Growth Prospects ◽  
Opening Up ◽  
Mass Level

Around the middle of the twenty first century, world will be facing the fourth industrial revolution that will change the ways we work, live and relate to one another, be the result of advancements in artificial intelligence (AI), genetics, robotics, nanotechnology, biotechnology, computers, algorithms and 3D printing. The Fourth Industrial Revolution is opening up huge growth prospects for the world economy, while at the same time appearing new or worsening existing problems, one of which is unemployment. Automation and digitalization may result a jobless future and this debate is on theoretical as well as on empirical fronts since last decade. This paper is an attempt to explore fundamental transformation of employment patterns as a result of fourth industrial revolution with special reference to Pakistan. The main conclusion of the study reveals that large numbers of jobs are likely to be destroyed in future with advent of computerization at mass level. After brief analysis, this study provides some insights to be considered to combat the challenges and opportunities of fourth industrial revolution for the country.

scholarly journals SCIENTIFIC AND TECHNOLOGICAL DEVELOPMENT AS A FACTOR OF ACCELERATING ECONOMIC GROWTH IN RUSSIA

2021 ◽  
Vol 230 (4) ◽  
pp. 237-244
Author(s):  
E.B. LENCHUK ◽  
Keyword(s):  
Economic Growth ◽  
World Economy ◽  
Large Scale ◽  
Industrial Revolution ◽  
Technological Development ◽  
Technological Basis ◽  
Fourth Industrial Revolution ◽  
The World ◽  
Sustainable Economic Growth ◽  
Scientific And Technological Development

The article deals with the modern processes of changing the technological basis of the world economy on the basis of large-scale transition to the use of technologies of the fourth industrial revolution, shaping new markets and opens up prospects for sustainable economic growth. It is in the scientific and technological sphere that the competition between countries is shifting. Russia remains nearly invisible player in this field. The author tried to consider the main reasons for such a lag and identify a set of measures of state scientific and technological policy that can give the necessary impetus to the scientific and technological development of Russia.

scholarly journals Post Human Craft: A Humble Attempt to Reorient Makers to the Inevitable

Cubic Journal ◽  
2020 ◽  
pp. 150-165
Author(s):  
James Stevens ◽  
Keyword(s):  
Human Evolution ◽  
Industrial Revolution ◽  
First Century ◽  
World Economic Forum ◽  
Profound Change ◽  
Fourth Industrial Revolution ◽  
The World ◽  
World Economic ◽  
Digital Algorithms ◽  
Waking Up

Nearing the end of the second decade of the twenty-first century many craftspeople and makers are waking up to the inevitable reality that our next human evolution may not be the same, that this time it could be different. Klaus Schwab, Founder and Executive Chairman of the World Economic Forum refers to what we are beginning to experience as the Fourth Industrial Revolution (Schwab 2017, 01). Schwab and his colleagues believe that this revolution could be much more powerful and will occur in a shorter period than the preceding industrial and digital revolutions. This revolution will cause a profound change in how we practice, labour and orient ourselves in the world. Rapidly evolving technologies will proliferate the use of robotics and personalised robots (co-bots) that can sense our presence and safely work alongside us. Digital algorithms are already becoming more reliable predictors of complex questions in medicine and economics than their human counterparts. Therefore, the gap between what a computer can learn and solve and what a robot can do will quickly close in the craft traditions. This article will engage in the discourse of posthumanism and cybernetics and how these debates relate to craft and making. Intentionally this work is not a proud manifesto of positions, strategies, and guidelines required for greatness. Alternatively, it is a humble attempt to reorient makers to the necessary discourse required to navigate the inevitable changes they will face in their disciplines. Thus, the article seeks to transfer posthumanist literary understanding to intellectually position craft in the Fourth Industrial Revolution.

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.

Accessible@tourism 4.0

2021 ◽  
pp. 1444-1463
Author(s):  
Pedro Teixeira ◽  
Leonor Teixeira ◽  
Celeste Eusébio
Keyword(s):  
Industry 4.0 ◽  
Essential Role ◽  
Industrial Revolution ◽  
Tourism Industry ◽  
Fourth Industrial Revolution ◽  
Tourism Sector ◽  
Challenges And Opportunities ◽  
The Government ◽  
Set Up

This chapter describes how Tourism 4.0 is a concept that combines tourism and the fourth industrial revolution, and although the literature in this field is very scarce, this concept has been explored in some research projects, such as the government-sponsored research project in Slovenian tourism. People with various kinds of access requirements represent a combination of challenges and opportunities for the tourism industry. Tourism 4.0 set up the main goals of making tourism accessible to everyone at any time. Therefore, this new phenomenon may have an essential role in the development of accessible tourism. The adoption of technological components in accessible tourism enables the development of a new technological solution that can facilitate access to tourism products for disabled people, contributing to the development of accessible tourism. The new term Accessible@Tourism 4.0 is the answer to the role of the fourth industrial revolution in accessible tourism, emphasizing the effect of Industry 4.0 components in the tourism sector.

scholarly journals The Direction of Industry: A Literature Review on Industry 4.0

2019 ◽  
Vol 1 (1) ◽  
pp. 2129-2138 ◽  
Author(s):  
Robert Lawrence Wichmann ◽  
Boris Eisenbart ◽  
Kilian Gericke
Keyword(s):  
Literature Review ◽  
Paradigm Shift ◽  
Industry 4.0 ◽  
Industrial Revolution ◽  
Cyber Physical System ◽  
Digital Factory ◽  
Expected Effect ◽  
Industrial Manufacturing ◽  
Fourth Industrial Revolution ◽  
Challenges And Opportunities

AbstractWith the rapid success of the digital enterprises in the 21st Century, industrial manufacturing is expected to be approaching the fourth industrial revolution, coined Industry 4.0 (I4.0). The instrumental technology that will drive this evolution is the integration of the physical and digital factory into one cyber physical system. There is consensus among academics and industry alike that there will be an integral paradigm shift in how offerings will be developed and manufactured. While there is much confidence that the future factory will have unprecedented capabilities to satisfy complex customer demands, there is little agreement on how individual organisations can utilise these trends. This paper presents a literature review identifying reoccurring themes and trends of I4.0 and their expected effect on future manufacturing. Central characteristics, challenges and opportunities are identified and discussed. The findings can provide support in developing actionable strategies for industry to direct I4.0 endeavours.

scholarly journals INNOVATIONS IN THE STRUCTURE AND METHODOLOGY OF CALCULATION OF THE GLOBAL COMPETITIVENESS INDEX

2019 ◽  
pp. 45-59
Author(s):  
Denis A. Strokatov
Keyword(s):  
World Economy ◽  
Industrial Revolution ◽  
Global Competitiveness ◽  
Fourth Industrial Revolution ◽  
The World ◽  
Global Competitiveness Index ◽  
Competitiveness Index ◽  
High Degree ◽  
Global Competitiveness Report ◽  
Made In

In October 2018 an updated Global Competitiveness Index (GCI) 4.0 was introduced in the Global Competitiveness Report2018. Inthe article identify the main differences in the structure and methodology of calculating GCI in the editions of the Global Competitiveness Report 2017–2018 and the Global Competitiveness Report2018. Areview of a number of sources showed that researchers don’t pay enough attention to innovations in the structure and methodology of calculating GCI 4.0. As a result of analyzing the structure and methodology of calculating GCI 4.0, it was revealed that a number of adjustments were made in the Index aimed at marking the importance of the Fourth Industrial Revolution, equalization the conditions when calculating the Index for countries at different stages of development, and taking into account current tendencies of the world economy. In conclusion, the author emphasizes that these innovations have reduced the high degree of subjectivity of the GCI, eliminated a number of difficulties in independent determining the value of the Index and increased the transparency of the calculations.

scholarly journals Challenges in the Fourth Industrial Revolution

2019 ◽  
Vol 24 (4) ◽  
pp. 303-307 ◽  
Author(s):  
Gabriela-Maria Man ◽  
Mihaela Man
Keyword(s):  
Artificial Intelligence ◽  
Virtual World ◽  
Industrial Revolution ◽  
New Technology ◽  
First Century ◽  
Work Time ◽  
Fourth Industrial Revolution ◽  
Twenty First Century ◽  
The Way

Abstract The beginning of the twenty-first century represents the beginning of the Fourth Industrial Revolution, which, unlike its predecessors, is characterized by great digitalization, higher connections between physical things and the virtual world, the development of genetics, artificial intelligence, hyper connectivity. These characteristics have generated many changes in the way work is performed. In order to meet these challenges, employees must increase their flexibility in the way they perceive work time, wages, tasks, workspace and so on. And, in an era of technology and digitalization, employees must keep their skills and knowledge, related to new technology, up to date. Several other aspects related to employability will be discussed in this article.

scholarly journals THE CHALLENGES AND OPPORTUNITIES OF INDUSTRY 4.0-A REVIEW

2019 ◽  
Vol 5 (2) ◽  
pp. 173-178
Author(s):  
Sreenivasan Jayashree ◽  
C. A. Malarvizhi ◽  
Mohammad Nurul Hassan Reza
Keyword(s):  
Industry 4.0 ◽  
Industrial Revolution ◽  
Fourth Industrial Revolution ◽  
Challenges And Opportunities

The Fourth Industrial Revolution, most encouraging industrial wave puts remarkable challenges and opportunities for organizations from the industrial, managerial and operational viewpoint. The achievement of the most recent innovations of Industry 4.0 and the change of creation methodology includes surprising challenges and opportunities in the ground of work and future manufacturing procedures require novel capabilities (Horváth, and Szabó, 2019). Sometimes the organizations face tremendous difficulties to identify the challenges as well as the opportunities of Industry 4.0. Hence, the challenges and opportunities of Industry 4.0 should be recognized appropriately, assessed precisely and afterward should be executed consequently. With the expectation of understanding the aspects of challenges and opportunities of Industry 4.0 as a disruptive industrial issue and to contribute the existing literature an arranged review strategy was executed to assemble the literature.

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