THE TIME HAS COME
Benefits of 4th Industrial Revolution.
- The majority of business executives believe Fourth Industrial Revolution technologies can help protect their company from economic slowdowns.
- Consumers would be more comfortable with these advanced technologies if they had greater control over their use and assurances of how their data would be utilised.
- As 4IR’s automation of tasks and processes becomes more pervasive, many employees may fear for their jobs.
Disadvantages of 4th Industrial Revolution
Social issues and impact on the society. Earlier revolutions as they went through, also made huge changes in social terms.
Cybersecurity and privacy are major concerns. IoT devices are susceptible to threats and these threats could be disastrous at times.
Offcourse Skills and education of workers working on industry 4.0 based processes need to improved.
Machines by themselves have limitations. They cannot perform complicated or non-repetitive tasks, i.e. something that is not done before
Initial capital cost for change is going to be huge
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