Is Digital Transformation A New Industrial Revolution?

Many influences are saying that Digital Transformation A New Industrial Revolution. However, some leaders are doubtful of how right the sentence is. 

Is Digital Transformation A New Industrial Revolution?

In 2020, we have undergone so many profound shifts that we all try to return to some normality. But the crisis in COVID-19 has also shown that our existing ways of doing things are simply alternatives.

Besides, numerous developments that have found an ability to do it better have expanded. Also, it leads to individuals and enterprises’ spreading.

To make this time a correct restart for the better, we need the strength, imagination, and motivation of those innovators.

The Pioneers of Transition Summit of the World Economic Forum will present and connect innovators who contribute to a revolutionary change in various sectors.

What’s on the list?

The summit will concentrate on a variety of major themes:

Sustainable generation: the industrial industry is responsible for about 50% of the global electricity demand. And 20% greenhouse gas emissions. How do we accelerate and competitively advantage of renewable production?

New digital business models

Digital networking has been increasing. It happens although other physical environments have stopped since the global pandemic. How will businesses help to provide value and develop sustainability with emerging modern business models?

  • Urban housing and utilities

Many towns have severe problems, and COVID-19 has made it more challenging to provide public services. How can cities lead to a more excellent quality of living, prosperity, and growth of urban innovations?

Fourth Technological Revolution brings about a worldwide transformation in technology. Furthermore, it includes artificial insight, blockchain, and synthetic biology. How will these inventions be developed, extended, and regulated not to harm” while offering the utility we need?

An evolving labor market, emerging skills needs, and global technology-driven markets are crucial for new working models to solve. How do we ensure that workers can satisfy the growing demand?

The summit reflects on individual inventions and their innovators. More specifically, the participants will be called upon to lead to two significant social improvements that shape the great restart.

What is Industry 4.0?

Industry 1.0 began with mechanization from 1760 to 1830 in the second half of the 18th century. ALso, machines and tools replaced the rural society powered by human and animal labor.

It does achievable with iron and steel, along with a steam turbine and internal combustion. Moreover, mass manufacture was Industry 2.0 between 1870 and 1940.

Montage row, stainless steel, chemicals, railways, and telegraphs increased mass manufacturing and logistics performance. Also, industry 3.0 did digitize between 1950 and 2002.

Telecommunications, electronics, and it implemented automation of robotics and PLCs (programmable logic controllers). It has contributed to the age of work done by computers in the past.

Industry 4.0 Explained

Industry 4.0 offers separate parts for an efficient and smarter production operation. Moreover, it separates from the three preceding phases of the Industrial Revolution. 

In specific intelligent and automated systems supported by data and machine learning, make this possible.

Data storage, networking, and artificial intelligence are now collaborating with sensors in production plants. Moreover, it is to provide a detailed analysis of the operation as a whole.

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