INDUSTRY 4.0 or commonly known as the Fourth cycle of Industrial Revolution was coined by the founder of World Economic Forum, Klaus Schwab.
The transition, from the age of information technology towards a more self-propelling industry will change the landscape of doing business, as well as society.
It is expected that people will likely to use social-media platforms to connect, learn, and change information as oppose to books, teachers and gatherings, something that should not to be ignored blindly at an early stage.
Building on 3rd Industrial revolution that existed from 1960 to 2000, Industry 4.0 offers promising disruption to almost all corners of industry, evolving rapidly at an exponential rate.
To put it simply, disruption occurs when new goods and services are produced with minds in replacement to traditional hard sweat labour.
Futurists will argue people will still be necessary, but are replaceable or reduced in its traditional role.
Despite its imminent threat, the in-transition industry revolution offers vast opportunities for both socially and economically.
The Industry Revolution 4.0 has the potential to promote disruptive innovation to positively impact our core industries and growing sectors such as agriculture, tourism, health and businesses to name a few.
Taking example in agriculture, smart farming allows better crop growing with higher yield and less space.
It also allows significant reduction in wastage with higher rate of return.
To an extreme level, a robotic farm in the United Kingdom harvested 4.5 metric tonnes of barley by an autonomous vehicles.
In embracing this changes, policy makers around the world are racing for a better and smoother transition to minimise its adverse impact while balancing with a strategy to reap its mega opportunity.
President Joko Widodo, during the opening of Indonesia Industrial Summit 2018 early this year pledged five sectors to be developed composing food and beverage, textiles, automotive, electronics, and chemicals, in its push to become the top 10 economies by 2030 through a roadmap ‘Making Indonesia 4.0’.
Brunei too is joining in response, calling upon higher education institutions to collaborate closely with the industry players.
In cushioning the transition, it is critical for us to identify and measure the missing gap and readiness upon its arrival, if not yet.
To some, there will be industries that are too young or in an infancy stage that are susceptible to shock.
Hence, an early preparation will surely keep the element of surprise manageable and this may require science of foresight.