Circular Economy and Emerging Technologies- ”Re-Invent Model”
We all have heard about 4 R’s which is “Refuse” “Reduce” “Recycle” & “Reuse”, which primarily relates with Z gen kids who are desperately trying to get rid of issues in the future by making preventing actions now. Over the years the global industry had a massive transformation from moving to 1.0 to 4.0 where resources are primarily exploited for massive production.
“If the other fellow sells cheaper than you, it is called dumping. ‘Course, if you sell cheaper than him, that’s mass production” Will Rogers
Yes, we see antidumping duties increased heavily in all production deficit countries, in order to avoid the havoc of pollution. Still, we have not realized the threat of accumulated garbage, co2 emissions, toxic pollutants, etc. Most of these were contributed by the “conspicuous consumption”- pattern to run behind luxury when needs are already satisfied.
We’ve reached a level where resources are exploited to the most and barely something left for the future. We can align thoughts if we leverage emerging technologies with a circular economy, where things are expected to be better. To explain the circular economy, its nothing but we need to produce goods which can be reused, else no production. China as a country had started many initiatives on this.
As we are already in a stage, where this was not taken care of, I would like to introduce a new term which is “Re-Invent” along with the other 4 attributes. With the use of Emerging technologies, we can Re-Invent with the limited resource available. For eg:
- Re-Invent existing systems and leverage Robotic Process automation than creating something new(indirect cost, resource, material cost will be high).
- Re-Invent existing cars/trucks/trails to be adaptable to new technologies for fuel efficiency and makeovers(overcome new model trends), rather than creating a new one from scratch.
- Re-Invent properties which can be utilized fully, rather than making it an ideal state, which helps in less construction(We all won't die with tangible assets in hand).
- Re-Invent everything which is not perishable in nature…..
I hope the world will reach a sustainable state once we connect these dots together.
PS: All views are my own and may require explanations further.
