We are at the advent of the 4th Industrial Revolution that started manifesting around 2010. This revolution is defined by technology becoming life centric.
Just as the First Industrial Revolution was by Mechanization (1760–1840), the second by Mobility & Communications(1870–1940) and the third Industrial revolution by Scientific and Technical Revolution including the Internet (1970–1985). It is evident that the third revolution has taken considerable time to find its place in the global society and its offshoot is the 4th Industrial Revolution in the form of digital revolution that should be driving transformation.
The Point of arrival: Revolution & not an Evolution:
The third industrial revolution ushered Information Technology (IT) and this is not the same as digital technology. It has taken a while for life to master the usage of information and now the 4th Industrial revolution is ushering in a higher threshold of data transformation. The intelligence that has always been in the domain of the humans is now envisaged to be shared by machines more democratically in real-time to improve the quality of decision making and system outcomes. Everything changes in terms of Systems and Structures, therefore the past are just a reference point for keeping the relevance of legacy. In order to remain relevant in the 4th Industrial Revolution, the new systems have to start building the systems and structures from the scratch; both in the physical and the virtual world.
The sheer pace of this current 4th Industrial revolution is exponential compared to the previous ones. Because there are more contributors and leaders who are creating for even greater consumer numbers that seem to be growing exponentially owing to globalization and democratization. The several incremental evolutions of life and technology innovation have brought us to a point of elevating to a higher threshold of disruptive adaptability. Ignoring this opportunity is an inevitable invitation to disastrous consequences. The single point agenda for 2018 and beyond is Leadership who can drive the modern Digital Factory for Digital Transformation.
“Incremental Changes can work in an evolution but definitely not in a revolution. Technology is about to change life forever as we know, and this transformation needs expedient preparation and precise Execution.”
As per a MIT research, the 7 Technologies are transforming life as we know it across the 7 stations of life : Health, Wealth, Education, Mobility, Environment, Technology and Governance. Technologies are centric to life during the 4th Industrial Revolution and can be classified as follow.
- Life/Digital Technology (Ex:IOT, Biotechnology, Sensors),
- Enterprise Technology (Ex: AI / ML / VR / AR, Nano Technology, 3D Printing)
- Information Technology (Ex: Enmesh Networking, Information Processing & Reporting)
It is those enterprise who are able to fuse the above technologies to the context of a globally local environment will thrive on this planet. The effort and initiatives of Digital Transformation have to consider this fusion for successful outcomes that deliver Value not just in terms of Returns on Investment (ROI) but also with respect to Returns on Assets Deployed (R.O.A.D.). Duct taping will not work. Timing is extremely critical. Many enterprises have already lost considerable time and money over transformation initiatives going awry because of this philosophy of building on top of the existing Information Technology (IT) stack. They have realized consequently that such an approach does not work, where many of the existing technologies are already redundant because they don’t render to the requirements of Smart, Sensitive and Serendipitous Engagement or Experience to the Customers.
It is evident that the 4th Industrial Revolution is all about value creation rather than value management. We have authored a White Paper titled: “Discerning Value — An Essential for the 4th Industrial Revolution”. This white paper makes a case for renewed thinking on energizing the enterprise and business organization to Create and Manage Value mutually inclusively. This can be achieved only when every enterprise stops to examine its true reflection in the mirror in the context of staring back at us and mapping a journey in that relevance. The energy needed here is akin to rocket fuel and not one that powers a jet or a car. It is time to connect universally and tap into its infinite energy. In doing so, the boundaries of human mediocrity can be challenged for the greater good of this planet.
Hreemm is an Enterprise with a mission to facilitate Innovations that dramatically improves quality of living in every aspect of life. We are building a an Innovation Platform that aims to transport Intellectual Property from conceptualization to commercialization in a continuum.
