4IR is here yet most people don’t recognise this term. They will because this is just the beginning and it will be the most powerful force changing our lives and our economy. 4IR stands for the 4th Industrial Revolution. The significance of 4IR will become clear to each person in coming years as it will change the future of work and hence the future of business and society.
The Fourth Industrial Revolution is described as the force blurring the lines between our physical, digital and biological worlds. It is a convergence of technologies such as artificial intelligence, the internet of things, genetic engineering, quantum computing and other technologies. We have heard about these technologies in isolation but what we don’t see is the convergence that is taking place. These transformative technologies will change the way we live and radically disrupt every business sector on the planet. To get some perspective let’s take a brief look at history.
The first industrial revolution began the 1700’s with the advent of the stream engine. It allowed production to be mechanised and began a huge social change from a rural agrarian society to an increasingly urbanised industrial society. In the second industrial revolution, electricity and other scientific advancements allowed for the mass production of goods in our factories. A third industrial revolution began in the mid 1950’s which saw the emergence of computers and digital technology.
Looking back in history it becomes clear the role each of these game changing technologies played in shaping our lives and the economy. As they say hindsight is 20/20. I believe the reason why most people can’t pick the winners is because there is a lot of “noise” about different innovations and advancements in technologies. I believe those that grasp the significance of these game changing technologies early place themselves at a significant advantage over the rest of us. This has been evident in the latest computer/ digital (3rd) revolution with people like Jeff Bezos who left investment banking because they saw the power of the internet and today is the world’s richest person.
I believe just like computers drove the digital revolution; artificial intelligence will drive the “wisdom revolution”. Just like bits (0 or 1’s) is the currency of computers, data is the currency of the artificial intelligence. We will use data and artificial intelligence to make wiser choices.
One of our speakers at the 2019 B2B Rocks Conference, Sydney on June 6th & 7th Lisa Claes, CEO of CoreLogic (formerly RP Data) will be speaking about “How data is changing our lives”. Come along and learn how you could use data to make wiser choices in your business.
Another technology that will be shaping the wisdom revolution is blockchain. Blockchain is a secure, decentralised and transparent way of recording and sharing data without the need of relying on third-party intermediaries. It has many uses in our economy, the most famous one being Bitcoin, a digital currency.
Come and hear John Greenhow, Managing Director Peloton Blockchain and our other leading panel on the “Use of Blockchain in the B2B space”:
One of the biggest challenges people and businesses will face in the wisdom revolution is the ability to learn and unlearn quickly. The ability to improve and find new and better ways of solving problems. People and businesses who resist the change and hold on to old dysfunctional habits/ behaviours and processes will struggle. People and businesses will need to innovate or become irrelevant.
In the 4th Industrial Revolution the ability of people and businesses to change, improve, evolve and adapt will become the most valuable asset they have. Hence, it is critical to “Create a culture of learning in the 4th Industrial Revolution”. Come and here Robert Wickham, Vice President & Growth Program Manager, Asia Pacific Region from Salesforce give a keynote about this topic at the 2019 B2B Rocks Conference, Sydney on June 6th & 7th.