Fourth Industrial Revolution

The world has the potential to connect billions of people to digital networks, dramatically improve the efficiency of organizations and even manage assets in ways that can help regenerate the natural environment, potentially undoing the damage of previous industrial revolutions. The Fourth Industrial Revolution is about more than just technology-driven change; it is an opportunity to help everyone, including leaders, policy-makers and people from all income groups and nations, to harness converging technologies in order to create an inclusive, human-centred future. The real opportunity is to look beyond technology and find ways to give the greatest number of people the ability to positively impact their families, organizations and communities. The Fourth Industrial Revolution, nonetheless, will challenge the competitiveness of many developing countries as many developing countries rely on cheap labour for deriving their comparative advantage. This area needs focused policy intervention as developing countries require effective strategies to develop new sources of comparative advantage as new advents such as artificial intelligence, smart factories, robotics, automation, nano-technology will reduce the human requirement to perform routine tasks.