While there are wide-ranging drivers of Industry 4.0, a few critical technological pillars will enhance the revolution (and are already starting to). Recently, I have covered my thoughts and readings on this subject as part of my blog. Many of these topics have gained widespread attention among global leaders – I noticed that they were important points of discussion at the recent World Economic Forum in Davos. This indicates how the growth of AI and supercomputers, the multiplying number of devices connecting to the IoT, the large-scale adoption of the cloud by businesses, the evolution of the metaverse, and the matter of cybersecurity are having multilateral implications for the world’s economy and geopolitics, and for industrial sectors. 

The metaverse is transforming manufacturing through the use of digital twins, which boost productivity levels and innovation. The World Economic Forum (WEF) has predicted that the most significant impact of the metaverse would be on industries and businesses and not the consumer, owing to the industrial metaverse, which uses digital twinning to enable pathbreaking levels of flexibility, efficiency and productivity. 

The emphasis on the importance of AI at the Forum has been interesting to note! Last week, I mentioned briefly how AI is changing the face of robotics and a variety of other sectors. A quick look at WEF’s Artificial Intelligence page will illuminate just how deep the impact is. From education to agriculture and aviation to waste management, AI is setting foot in almost every section of society.  

With all this increased connectivity, threats are always around the corner. In my lifetime, cybersecurity has moved from the IT department to the boardrooms of businesses. Earlier this year, the WEF published the report Global Cybersecurity Outlook 2023, predicting the trends in cybersecurity that will impact our society in the year ahead. The report’s landmark prediction suggests that the increased tensions and instability in global geopolitics leave the world with an “exacerbating risk for catastrophic cyberattacks.” Luckily, the report also illustrates the closing gap between business executives and cybersecurity managers. 

All in all, I am excited to see the growing prominence of the technological pillars of Industry 4.0 at the Forum. I plan to engage with more of the pillars through my blog in the coming weeks. Stay tuned!