The Fourth Industrial Evolution
We live in exciting times of fundamental technological change. the grow of technology are provoding to us with new capabilities, they are changing the way we live, work and relate to one another.
“We are at the beginning of a revolution that is fundamentally changing the way we live, work, and relate to one another. In its scale, scope and complexity, what I consider to be the fourth industrial revolution is unlike anything humankind has experienced before.” Klaus Schwab, Chairman, World Economic Forum
The Fourth Industrial Revolution is impacting digital, physical and biological worlds
INDUSTRY 1.0. Mechanical Production , Steam, water. 1784: First power loom
INDUSTRY 2.0 Mass Production, Electricity. 1870: First assembly line, Cincinnati slaughterhouses
INDUSTRY 3.0 Automated Production, IT, Electronics. 1969: First programmable logic controller (PLC) Modicon 084
INDUSTRY 4.0 Cyber-Physical Systems. Physical + Digital + Biological. Today: Cyber-physical systems
The Impact on the business
“what does it mean to run a business in this fast changing world? We are now living in an Idea Economy where success is defined by the ability to turn ideas into value faster than your competition.” Meg Whitman, Ex-Chief Executive Officer, HP
Currently startups are quickly moving to offer cheaper digital banking services and also transforming automotive industry in quickly way.
How existing companies may innovate in order to approach this movement? There are different way to overcome this new revolution. The following key points may help to achieve this movement.
- Learning (Observe, Interact and look around)
- Organizing [Collaboration(team over the individual, and Multidisciplinary team)]
- Building (Big picture of thinking)
Companies will need to fundamentally transform themselves to succeed the new technologically driven world. the following table shows the blueprint for business transformation.
