The fourth industrial revolution is coming. How sh

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When the fourth industrial revolution comes, how should we meet it

Abstract: today, the fourth industrial revolution is changing the economy, employment and even the society itself. Under the broad title of industry 4.0, many physical and digital technologies combine analysis, artificial intelligence, cognitive technology and IOT to create digital enterprises that are both interconnected and able to make more informed decisions

with the invention of steam engine and power loom, world industrialization began in the late 18th century, fundamentally changing the way of manufacturing goods. A century later, large-scale production of power and assembly lines was realized. In the 1970s, with the development of computer driven automation, we were able to program machines and networks, and the third industrial revolution began

today, the fourth industrial revolution is changing the economy, employment and even the society itself. Under the broad title of industry 4.0, many physical and digital technologies combine analysis, artificial intelligence, cognitive technology and IOT to create digital enterprises that are both interconnected and able to make more informed decisions. Digital enterprises can exchange, analyze and use data to promote intelligent behavior in the physical world. In short, this revolution has not only embedded intelligent Internet technology in the organization, but also embedded in our daily life

how can organizations and leaders prepare for this revolution

Deloitte, a consulting firm, surveyed 1600 C-level managers in 19 countries and discussed a core question: how can leaders of enterprises and government agencies make use of the full potential of industry 4.0 to bring benefits to their customers, employees, organizations, communities and society more widely? The following is Deloitte's report: are you ready for the fourth industrial revolution The main results of the study

only 14% of the respondents highly believe that their organization is ready to take full advantage of the changes related to industry 4.0

a quarter of the CXOs surveyed are very confident that they have the right mix of employees and skills, although 84% said they are doing their best to create labor for Industry 4.0

the vast majority of CXOs (87%) believe that industry 4.0 will bring more equality and stability, Three quarters of the respondents believe that business will have a greater impact on shaping the future than the government and other entities

however, less than one quarter of the respondents believe that their own organization has a great impact on key factors such as education, sustainable development and social mobility

Deloitte's research found that although CXO regards new business or delivery model as the biggest threat facing its organization, But they mainly use industry 4.0 technology as a tool to make existing businesses more efficient and cost-effective. This leaves a huge opportunity for innovative business models, which may not only bring value to direct and indirect stakeholders, but also better protect them from damage

four influence areas

how do executives manage this change? In view of its integration of digital and physical technologies in various fields such as commerce, production, mobility and communication, the fourth industrial revolution represented a broad and universal transformation in plastic products, such as water bottles and diapers. If enterprises want to flourish, they should comprehensively deal with this transformation. When dealing with such a big issue, it is useful to study how it affects specific elements. Deloitte focuses on four aspects:

senior executives seem to have no fear of technology. As a big balancer, it can provide more education, work or financing channels for the growth rate of most products over 10% among different regions and social groups. The vast majority of executives believe that enterprises (public (74%) and private (67%) have the greatest impact on how industry 4.0 will affect society, while the government is in the second place. However, many executives do not believe that their own enterprises account for a large proportion of issues such as education and employee learning, environmental sustainability, social and geographical mobility. Millennials believe that multinationals are not fully aware of their potential to alleviate society's greatest challenges. If business really plays a leading role in the broad social impact of industry 4.0, enterprises should embrace transformative change before it may be too late

even though leaders recognize the expected changes in industry 4.0, many people still focus on traditional short-term business operations rather than long-term opportunities to create value for their direct and indirect stakeholders. Deloitte found that 57% of CXO respondents made the development of business products their top priority, and productivity increased to 56%. Although these problems are well consistent with some elements of industry 4.0, they are still traditional goals. They involve continuous learning, tapping new talent sources, reaching underserved markets, providing forecasting tools to help improve processes, reduce risks, connect supply chains, and achieve more flexible systems

many executives do not seem to feel the urgency of dealing with the challenges of the future workforce, although only a quarter of them are convinced that they have the right staff composition and the skills they need in the future. Deloitte's findings can explain that the vast majority of executives believe that they are doing their best, that they can rely on the existing education system, and that their existing employees can receive retraining. In short, although they are worried, they do not think that fundamental changes are necessary to finally get them where they need to be. Although technology has historically created more jobs than it has destroyed, these newly created jobs should be encouraged by effective labor development

the fourth industrial revolution has brought a commitment to integrating digital and physical technologies that have improved the operation, productivity, growth and innovation of organizations. However, we did not use digital technology to do what they had done before, but it was faster and better. We found that the real industry 4 experimental machines (UTM) were conditioned by different speed levels.0 enterprises to use them to create new business models. Businesses that expand their use of industry 4.0 technologies, including suppliers, customers, workers, partners, and others in other ecosystems, can discover more of the benefits of change. What about the problem? In the CXO surveyed by Deloitte, only 20% think that their organization is highly prepared to deal with new business or delivery mode, and less than 15% think that they are fully prepared for intelligence and autonomous technology due to the aggravation of disordered competition

all revolutions are destructive, and industry 4.0 is no exception. It brings risks, but provides huge opportunities: new products and services, ways to better serve customers, new jobs and new business models. Like the previous industrial revolution, the impact of these changes may affect various industries, enterprises and communities, not only our way of working, but also our lives and relationships

Deloitte's survey shows that CXOs understand it, that is, they know that industry 4.0 will bring great changes, and they need to be prepared. However, they are not sure how to take action, and there is not much time left: in this unprecedented era of global social and economic connectivity, the fourth industrial revolution is taking place rapidly, large or small. If leaders choose to think more broadly and act decisively, their enterprises may play a leading role in becoming a positive force in industry 4.0

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