Technological advances have driven dramatic increases in industrial productivity since the dawn of the Industrial Revolution. The steam engine powered factories in the nineteenth century, electrification led to mass production in the early part of the twentieth century, and industry became automated in the 1970s.
Now, we are in the midst of a fourth wave of technological advancement: the rise of new digital industrial technology known as “Industry 4.0” and marks the beginning of Fourth Industrial Revolution (4IR). In this transformation, sensors, machines, workpieces, and IT systems will be connected along the value chain beyond a single enterprise, having a telling effect on the design, manufacture, operation and service of products and production systems.
Powered by multiple foundational technology advances, such as autonomous robots, IoT, Big Data Analytics, Augmented Reality etc., 4IR is no longer an esoteric notion of a futuristic production process, but rather a phenomenon which is re- defining digitization possibilities in industry. ABB is launching a 2 armed robot designed to assemble consumer electronic products alongside humans. Siemens developed a virtual machine that can simulate machining of parts using data from physical machines to reduce the setup time by nearly 80%. They have also trained plant personnel to handle emergencies by using augmented reality.
The impact of 4IR will be significant – it will make it possible to gather and analyse data across machines, enabling faster, more flexible and more efficient processes to produce higher quality goods at reduced cost. This in turn will increase manufacturing productivity, shift economics, foster industrial growth – ultimately changing the competitiveness of companies and regions. In Germany’s advanced manufacturing landscape, for example, 4IR can drive productivity gains of 5 – 8 % on total manufacturing cost over 10 years. It will also contribute ~1% per year to GDP over 10 years and add ~250Billion Dollars to revenue growth.
More importantly, 4IR is also shaping the industrial workforce of tomorrow. Despite partial substitution of human effort by machines, jobs will grow but of different profiles – routine jobs on the shop floor will reduce however roles in IT, R&D and analytics will grow. In Germany, for example, 4IR is likely to create ~400,000 jobs over 10 years (~600,000 job reduction in assembly and production will be more than offset by creation of ~1 Mn jobs, particularly in IT and data science).
‘Factory of the future’ is a reality that is being built right now - the race of adoption of 4IR is already on across multiple companies and countries. However, most companies still struggle with the nuts & bolts; CEOs and Directors remain contemplative of strategic shifts in business models and debate the degree of 4IRimpact generation. Compelling questions also loom over the labour implications of such a mammoth transformation.
Companies will need to retrain their employees, adopt new work and organization models, recruit for Industry 4.0 and engage in strategic workforce planning.
4IR will create many new cross functional roles for which workers will need both IT and production knowledge. Hence the education systems need to be remoulded such that it can provide broader skill sets and job specific capabilities, close the IT skills gaps and offer new formats for continuing education.
To maximize the number of jobs created by 4IR and help companies retail as many employees as possible, governments must help improve coordination among stakeholders in business and academia. In many cases, these efforts will need to focus on promoting the successful implementation of industry 4.0, which is a prerequisite to generating manufacturing growth and creating new employment opportunities.
Government to government collaboration is also vital to learn and adopt successful working models of these enablers – enhancing Knowledge sharing, skill development, facilitating policy shifts are some key areas where countries can work and move forward together.
Digital World is the flagship event of Bangladesh ICT Ministry which attracts 400,000+ visitors and 1000+ participants from far and wide. Over the course of 4 days, multiple rich exchanges are held on path breaking technology and digital ideas, making it a true melting pot of latest ideas and thought leaders alike.
The ministerial conference is an avenue where such enriching dialogues on emerging trends and need for inter-governmental collaboration is further expounded. In the last edition in 2016, the ministerial conference focused on “Digital Transformation” to facilitate collaborative learning, devise transformative digital strategies and tackle challenges with concerted efforts. This year, with the manufacturing industry poised at an inflection point of Fourth Industrial revolution, we would like to essentially deliberate on “Sprinting to Value in 4IR” – to build a stronger focus on how to make the value real.
In collaboration with the partner organizations including Boston Consulting Group, the conference will bring together global thought leaders, technology evangelists and industry veterans to not only deliberate on the megatrends and disruptive technologies but also decode the dilemmas, define the imperatives and elucidate the enablers.
As a participant, you are expected to walk away with pragmatic actions/ building blocks that you could meaningfully apply to deploy 4IR in your country and local organizations.
|10:00 AM – 10:25 AM||Registration|
|10:25 AM – 10:30 AM||Guests take seats|
|10:30 AM – 10:35 AM||Introduction to the Ministerial Conference by the Moderator|
|10:35 AM – 10:45 AM||Welcome Speech by ICT State Minister, Bangladesh|
|10:45 AM – 11:15 AM||Keynote: Fourth Industrial Revolution|
|11:15 AM – 12:15 PM||Presentation by panelist ministers|
|12:15 PM – 12:35 PM||Discussion by panelist ministers|
|12:35 PM – 12:45 PM||Summary by Moderator|
|12:45 PM – 12:50 PM||Vote of thanks|
|12:50 PM -13:00 PM||Presentation of Memento and Photo Session|