Next Industrial revolution- Industry 4.0
Have you ever heard the word industrial revolution in your study? Let’s go back to an early age wherein 17 century the first industrial revolution implemented which saw the animal and human strength toward steam engine and locomotive capacity.
Now remember the second industrial revolution in 18 century which is driven by electricity, bringing new and some bigger machines and advanced in the manufacturing sector. Here how can you forget the third industrial revolution which makes us fast forward through internet, electronics and automated production? Every time it changes us these three industrial revolutions have a major impact on everyone’s life. Now if you want to know which should be the fourth industrial revolution in today’s time then we want to introduce you Industry 4.0.
Role Of Industry 4.0 on Employment.
Here the Industry 4.0 play a significant role as the factories and machines are getting smarter and perform the task according to that so here the main aim is to improve the efficiency and profitability and ready to increase innovation. Such industrial revolution provides a better management of safety, about the performance and also environmental impact. It includes a cyber-physical system, Internet of things, cloud computing and cognitive computing.
However, every technology has its own challenging way but the fact is if we are here talk about the Industry 4.0 then we have to face many challenges. If you are looking to complete your work rapidly with the fast-growing production then you can use this upcoming fourth industrial revolution.
But to do this you need a lack of experience and manpower for the smarter system and also the smarter system is not enough as here you have to talk to your shareholders to invest a good amount of money. Well, another fear factor which can make a challenging situation and that is Information Security as if you need more access in your business then you must use Industry 4.0. If you are looking for successful cyber-physical communication, you always need a high level of reliability and stability.
The research said that the revolution is likely to increase the inequality as the spread of machine increase the market but if we talk about the skilled people or labor one then revolution disrupts the labor market. It’s shocking news that more than 65% of India workforce lives in rural areas who cannot get all such access related to their amenities.
Now India steps forward and moves on to other sector industry like the leather industry and textile one and the focus only on the required manual hard work. It was clear for the mindset of cheap labor that was the flaw back then and the fact is India counted among the most unproductive market. India changed its focus and totally depends on skilled workforce rather than cheap labor and with this, the capital intensive sector and technology are more competitive.
One of the eminent industrialist Mr. Kalyani also show some relevant fact and that is India should move on to innovation- driven economy and the reason behind this It will create more new jobs. Such industrialists know that the output of India is $320 billion so there aim is to make it $ 1.2 trillion which will definitely reach in the coming 10 to 15 years.