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Digitization in the new Industrial revolution

Is it just rainbow and sunshine about digitization in the Industry?

It was not too long that the fabric weavers were replaced by the cotton mills during first Industrial revolution. Then with the introduction of mass assembly lines the requirement of unskilled workforce reduced at a drastic rate. Afterwards, Machine learning overtook the conventional factories and now the spell of digitization on all the manufacturing processes. The whole digital transformation combined with artificial intelligence is expected to take away more than 47% of the employment in the next 20 years leaving millions of people across the world jobless, according to the algorithm studies of Michael A.Osborne, Professor in Machine learning.

Industry 4.0 is the beginning of new age technologies, high level robotics, self-control machinery and many other innovative techniques, which bought in plenty of hardships and challenges. With the concept of “Smart Factory” booming in to establish a network in between humans and machines and to unite the physical industry with the cyber systems. Adoption of Smart Factory in the real time scenario may seem like a huge step forward in identifying the ambiguities in the supply chain and to maintain a constant communication in between the suppliers and the customers, but the gloomier side is shrinkage in the job markets.

Artificial Intelligence is apparently everywhere, from automated cars to gaming consoles and even virtual voice assistants like Siri or Alexa. The wide-spread usage of AI at every level might further add to the polarization of the job market. Most of the employment might disappear, leaving alone the highly skilled resources or low-paid jobs might be less vulnerable to automation

The efficiency of the industry ecosystem entirely depends on their intellectual property and security of the enterprise data. The most challenging concern for the companies right now is the data security. Organizations are at high risk of breach in the data security with the increase in the revolutionary technologies. With the digital transformation happening around the world, the industries cannot overlook the principal aspect of Digital Trust.

Industrial organizations usually tend to ignore the underlying changes that Industry 4.0 might bring. Companies need to invest in shielding their data from the disruptive technologies and maintain a digital trust to strengthen their security system against the cyber-attacks.

The technology providers should offer a viable solution to counteract the breach of the security systems and enterprises must have a blueprint to maintain the Digital Trust.

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Balaram Vuchidi

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