The fourth industrial revolution, a term coined by Klaus Schwab, founder and executive chairman of the World Economic Forum, describes a world where individuals move between digital domains and offline reality with the use of connected technology to enable and manage their lives. (Miller 2015, 3) The first industrial revolution changed our lives and economy from an agrarian and handicraft economy to one dominated by industry and machine manufacturing. Oil and electricity facilitated mass production in the second industrial revolution. In the third industrial revolution, information technology was used to automate production. Although each industrial revolution is often considered a separate event, together they can be better understood as a series of events building upon innovations of the previous revolution and leading to more advanced forms of production. This article discusses the major features of the four industrial revolutions, the opportunities of the fourth industrial revolution, and the challenges of the fourth industrial revolution.

. Main characteristics of industrial revolutions

Content may be subject to copyright.

ResearchGate Logo

Discover the world's research

  • 20+ million members
  • 135+ million publications
  • 700k+ research projects

Join for free

http://ijfr.sciedupress.com International Journal of Financial Research Vol. 9, No. 2; 2018

Published by Sciedu Press 90 ISSN 1923-4023 E-ISSN 1923-4031

The Fourth Industrial Revolution: Opportunities and Challenges

Min Xu1 , Jeanne M. David2 & Suk Hi Kim1

1 Department of Finance, College of Business Administration, University of Detroit Mercy, Detroit, MI, USA

2 Department of Accounting, College of Business Administration, University of Detroit Mercy, Detroit, MI, USA

Corresponddence: Min Xu, Associate Professor of Finance, College of Business Administration, University of

Detroit Mercy, Detroit, MI 48221, USA. Tel: 313-993-1225.

Received: February 16, 2018 Accepted: March 6, 2018 Online Published: March 8, 2018

doi:10.5430/ijfr.v9n2p90 URL: https://doi.org/10.5430/ijfr.v9n2p90

Abstract

The fourth industrial revolution, a term coined by Klaus Schwab, founder and executive chairman of the World

Economic Forum, describes a world where individuals move between digital domains and offline reality with the use

of connected technology to enable and manage their lives. (Miller 2015, 3) The first industrial revolution changed

our lives and economy from an agrarian and handicraft economy to one dominated by industry and machine

manufacturing. Oil and electricity facilitated mass production in the second industrial revolution. In the third

industrial revolution, information technology was used to automate production. Although each industrial revolution

is often considered a separate event, together they can be better understood as a series of events building upon

innovations of the previous revolution and leading to more advanced forms of production. This article discusses the

major features of the four industrial revolutions, the opportunities of the fourth industrial revolution, and the

challenges of the fourth industrial revolution.

Keywords: fourth industrial revolution, five ages of civilization, 3D printing technology, artificial intelligence, IoT,

fusion of technology, robotics

1. Introduction

The speed and measure of the changes coming about by the fourth industrial revolution are not to be ignored. These

changes will bring about shifts in power, shifts in wealth, and knowledge. Only in being knowledgeable about these

changes and the speed in which this is occurring can we ensure that advances in knowledge and technology reach all

and benefit all.

The first industrial revolution started in 1760 with the invention of the steam engine. The steam engine allowed the

transition from farming and feudal society to the new manufacturing process. This transition included the use of coal

as the main energy while trains were the main means of transportation. Textile and steel were the dominant industries

in terms of employment, value of output, and capital invested. The second industrial revolution began in 1900 with

the invention of the internal combustion engine. This led to an era of rapid industrialization using oil and electricity

to power mass production. The third industrial revolution started in 1960 and was characterized with the

implementation of electronics and information technology to automate production. Under the old ways, making

things involved screwing or welding lots of parts together. The fourth industrial revolution now involves computer

generated product design and three dimensional (3D) printing, which can create solids object by building up

successive layers of materials. (Prisecaru, 57-62) Table 1 shows a short presentation of the industrial revolutions

from 1760 to the present.

http://ijfr.sciedupress.com International Journal of Financial Research Vol. 9, No. 2; 2018

Published by Sciedu Press 91 ISSN 1923-4023 E-ISSN 1923-4031

Table 1. Main characteristics of industrial revolutions

Main Technical

Achievement

Main Developed

Industries

Internal Combustion

Engine

Metallurgy, Auto,

Machine Building

Nuclear Energy

Natural Gas

Internet, 3D Printer,

Genetic Engineering

Electric Car,

Ultra-Fast Train

Source: Prisecaru, P. (2016). "Challenges of the Fourth Industrial Revolution." Knowledge Horizons. Economics,

8(1), 57-62. Web

https://search-proquest-com.ezproxy.libraries.udmercy.edu:2443/docview/1793552558?accountid=28018.

Now a Fourth Industrial Revolution is building on the Third, the digital revolution that has been occurring since the

middle of the last century. It is characterized by a fusion of technologies that is blurring the lines between the

physical, digital, and biological spheres.

There are three reasons why today's transformations represent not merely a prolongation of the Third Industrial

Revolution but rather the arrival of a Fourth and distinct one: velocity, scope, and systems impact. The speed of

current breakthroughs has no historical precedent. When compared with previous industrial revolutions, the Fourth is

evolving at an exponential rather than a linear pace. Moreover, it is disrupting almost every industry in every country.

And the breadth and depth of these changes herald the transformation of entire systems of production, management,

and governance." (Schwab 2015)

2. Opportunities of the Fourth Industrial Revolution

There are similarities between four industrial revolutions and the five ages of civilization: the hunter and gather age,

the agricultural age, the industrial age, the information worker age, and the emerging age of wisdom. Therefore, we

may infer the opportunities of the fourth industrial revolution through the characteristics of these five ages of

civilization presented by Steven Covey in his book 8th Habit. (2011, 12-17) First, the productivity of each

subsequent age goes up fifty times over the preceding age. Consider for example, the increase in productivity of the

industrial age over the agricultural age. Second, each subsequent age destroys many of the jobs of the preceding age.

The information age is replacing the jobs created by the industrial age. Much of losses in our industrial age jobs have

less to do with government policy and free trade agreements than they do with dramatic shift in our economy to the

knowledge worker.

Third, in the first three ages of civilization manual workers produced most goods and services with their body, but in

the last two ages, knowledge workers produce most goods and services with their mind. Knowledge workers are the

link to a company's other investments. They provide focus, creativity, and leverage in using those investments to

achieve the organization's objectives more efficiently. In other words, knowledge is an integral part of total

management and cuts across functional boundaries. The main assets and primary drivers of the industrial age were

machines and capital. People were necessary but replaceable. The management style of the industrial age simply

does not work in the new economy. Management focused on motivating employees to perform the physical labor

needed to produce the products and services. In the fourth industrial age, the challenge now is how companies can

motivate their knowledge workers to release their human potential.

Leading researchers argue that the fourth industrial revolution will shape the future through its impacts on

government and business. People have no control over either technology or the disruption that comes with the fourth

industrial revolution. However, we can predict the opportunities that comes with the fourth industrial revolution: 1)

lower barriers between inventors and markets, 2) more active role for the artificial intelligence (AI), 3) integration of

different technics and domains (fusion), 4) improved quality of our lives (robotics) and 5) the connected life

(Internet).

http://ijfr.sciedupress.com International Journal of Financial Research Vol. 9, No. 2; 2018

Published by Sciedu Press 92 ISSN 1923-4023 E-ISSN 1923-4031

First, Chris Anderson predicts that the fourth industrial revolution is likely to reduce barriers between inventors and

markets due to new technologies such as 3D printing for prototyping. (2012) For example, tissue engineers use rapid

prototyping techniques to produce 3D porous scaffolds. The 3D printing technique fabricates scaffolds with a novel

micro- and macro-architecture and these in turn help shape the new tissue as it regenerates. New technologies, like

this 3D printing, allow entrepreneurs with new ideas to establish small companies with lower start-up costs. The

entrepreneur can bring the product 'to reality' with 3D printing, without the traditional time constraints often

encountered with traditional prototyping methods. The typical barriers to entry are removed from the marketing

equation.

Second, increasing trends in artificial intelligence point to significant economic disruptions in the coming years.

Artificial systems that rationally solve complex problems pose a threat to many kinds of employment, but also offers

new avenues to economic growth. A report by McKinsey & Company found that half of all existing work activities

would be automated by currently existing technologies, thereby enabling companies to save billions of dollars and to

create new types of jobs. (Manyika et al. 2017) For example, driverless cars may modestly replace tax and Uber

drivers, but autonomous trucks may radically transform shipping with far fewer jobs for truck drivers.

Third, innovative technologies will integrate different scientific and technical disciplines. Key forces will come

together in "a fusion of technologies that is blurring the lines between physical, digital, and biological spheres."

(Schwab 2015) This fusion of technologies goes beyond mere combination. Fusion is more than complementary

technology, because it creates new markets and new growth opportunities for each participant in the innovation. It

blends incremental improvements from several (often previously separated) fields to create a product.

Fourth, robotics can and will change our lives in the near future. Technically robots are automated motorized tools.

They cook food, play our music, record our shows, and even run our cars. But we just do not see it because robots do

not have a face we to whom we can talk or a butt we can kick. (Tilden) Consequently, robots have the potential to

improve the quality of our lives at home, work, and many other places. Customized robots will create new jobs,

improve the quality of existing jobs, and give people more time to focus on what they want to do.

Fifth, the Internet of things (IoT) is the Internetworking of physical devices. Typically, the IoT is expected to offer

advanced connectivity of devices, systems, and services that goes beyond machine-to-machine (M2M)

communications and covers a variety of protocols, domains, and applications. (Holler, et al. 2014) The

interconnection of these embedded devices is expected to usher in automation in nearly all fields, while also enabling

advanced applications like a smart grid, and expanding to areas such as smart cities. The revolution of the connected

life came about thanks to the advance of the Internet. In 1969, the first data was transmitted over the Internet and

linked two main frame computers. Now, the Internet is connecting personal computers and mobile devices. "By 2010,

the number of computers on the Internet had surpassed the number of people on the earth." (Gershenfeld and Vasseur

2014, 28)

3. Challenges of the Fourth Industrial Revolution

"We stand on the brink of a technological revolution that will fundamentally alter the way we live, work, and relate

to one another. In its scale, scope, and complexity, the transformation will be unlike anything humankind has

experienced before. We do not yet know just how it will unfold, but one thing is clear: the response to it must be

integrated and comprehensive, involving all stakeholders of the global polity, from the public and private sectors to

academic and civil society." (Schwab 2015) This paragraph gives us some idea of the challenges surrounding the

fourth industrial revolution. The enormity of the challenges and the breadth required of the response are reinforced

by Peters. (2017, 28)

The evolution of global industries in the fourth industrial revolution is both exciting and scary. Life will change with

the 3D printing, the IoT, and the fusion of technologies. The fourth industrial revolution can raise income levels by

allowing entrepreneurs to "run" with their new ideas. It will improve the quality of life for many people around the

world. (Jee 2017, 255-256) Consumers are likely to gain the most from the fourth industrial revolution.

"[T]echnological innovation will also lead to a supply-side miracle, with long-term gains in efficiency and

productivity. Transportation and communication costs will drop, logistics and global supply chains will become

more effective, and the cost of trade will diminish, all of which will open new markets and drive economic growth."

(Schwab 2015)

While there are many benefits of the fourth industrial revolution, there are several key challenges that lie ahead. At

the same time, the revolution could yield greater inequality, particularly in its potential to disrupt labor markets. As

automation substitutes for labor across the entire economy, the net displacement of workers by machines might

http://ijfr.sciedupress.com International Journal of Financial Research Vol. 9, No. 2; 2018

Published by Sciedu Press 93 ISSN 1923-4023 E-ISSN 1923-4031

exacerbate the gap between returns to capital and returns to labor. The scarcest and most valuable resource in an era

driven by digital technologies will be neither ordinary labor nor ordinary capital; rather it will be those people who

can create new ideas and innovations. In the future, talent, more than capital, will represent the critical factor of

production. People with ideas, not workers or investors, will be the scarcest resource. (Brynjolfsson, McAfee, and

Spence 2014). In 2017 Bloomberg Global Business Forum, Apple CEO Tim Cook commented "If I were a country

leader, my goal would be to monopolize the world's talent." (Leswing 2017) The quest for talent will give rise to a

job market that may become increasingly segregated. Low skilled and low wage jobs will be replaced by computers

and digitization. The higher paid jobs requiring more skills are less likely to be replaced. This increased

dichotomization can lead to an increase in social tensions. (Wolf 2015, 125)

In addition to the threat of massive job displacement under the ongoing fourth industrial revolution, there are a

variety of challenges, such as cybersecurity, hacking, risk assessment, and others. (Lambert 2017) A higher level of

alert is raised up when our lives become extensively connected to various devices, from our cell phones, cars, and

light switches to our home security cameras, and smart speakers. One of the biggest trends in 2018 Consumer

Electronics Show is that everything is connected and there is no going back. (Goode 2018)

Having everything attached to everything else in the IoT is going to monumentally increase the vulnerabilities

present in any given network. With more knobs, connections and burden of connectivity, systems are going to have

to be more secure. The fourth industrial revolution calls for greater cybersecurity. Companies will need to map their

networks, assessing the risk and critical factors relating to security. Such an assessment should examine accessibility

to systems, such as possible threats from internal sources, from disgruntled employees to internal human error, and

external sources including hackers and cyber terrorists. Further, companies must assess risk and determine if these

risks will be accepted, reduced, shared via insurance or other vehicles, or rejected. Risks can be from both intentional

and unintentional sources. If your house lights turn on via your computer, but you have lost the wireless connection

to your house, you may be living in the dark. Unintentional sources of risk can include error s promulgated by

company employees or nature itself such as storms causing disruptions in connectivity. Individuals too should assess

their risks, just as companies will. It may come that the Internet will have more information about individuals than

the family, friends, and colleagues of the individuals. Certainly, the ability of data to be processed and the speed in

which it can be done surpasses the ability and speed of individuals. It is necessary to examine the value of processes

and assets, from machinery to intellectual property, ensuring that there is insurance, security measures and that any

vulnerability is sufficiently identified.

When we consider the changing nature of security threats - from employees connecting personal devices to company

networks to brute force attacks from hackers - the situation is further complicated. The sophistication in risk

identification and neutralization has to change with it. While data can be lost or stolen by employees, either

inadvertently or intentionally, the biggest attacks in recent years have been external malicious attacks, collectively or

commonly referred to as hacking. These could be hacking to move money around, such as when Russian hackers

stole $10 million from Citibank customer accounts, Internet terrorism, such as the $2 million damages caused to

WeaKnees.com over a six week botnet attack, Internet pump-and-dump fraud where hackers take advantage of

manipulating stock prices, or software piracy which is es timated to cost over $50 billion a year. (Romney and

Steinbart 2017, 159-167)

The fourth industrial revolution is more than just technology-driven change. Rather, it is powered with disruptive

innovation to positively impact our core industries and sectors, such as education, health and business. In education,

with the previous industrial revolutions, the focus of education changed. With the first industrial revolution,

education was focused on standard modes of learning, such as the McGuffey reader. With move toward mass

production in the second industrial revolution and standardized testing. Education is service oriented and with the

move into the third industrial revolution we come to see students under a customer learning model. Now in the fourth

industrial revolution, technologies really blur the lines between physical, digital and biological spheres. Disruptive

innovation makes its way into higher education in which it redefines the conventional ways universities deliver their

content to students. New modes of curriculum and teaching arise, and the focus changes from modes of teach to

modes of learning. Alternative curriculums are being constantly developed. Disruptive innovation also reshapes how

businesses operate. Thinking has really moved outside of the box. New markets are created and new products are

defined. Netflix is competing with traditional television. Taxis must compete against Uber and Lyft. These offered

similar product offered to customers in new ways. You could watch your shows from your home or get a ride

somewhere. With the Airbnb alternative overnight accommodations are competing against traditional hotels and

motels. (Jules 2017)

http://ijfr.sciedupress.com International Journal of Financial Research Vol. 9, No. 2; 2018

Published by Sciedu Press 94 ISSN 1923-4023 E-ISSN 1923-4031

Last, in an era featuring AI, automation, robots, and genetic engineering, we have new ethical concerns emerging.

Lots of debates have arisen in genetic engineering about the use of tools and research technologies. On one hand,

preventing genetic disease by genetic engineering is desirable. On the other hand, what guidelines, or regulation, or

ethical boundaries we should establish in order to prevent the over manipulation genetics for desirable traits? Is there

such a thing as over manipulation? Infused with artificial intelligence and machine learning ability, robots have

become smarter and more autonomous, but they still lack an essential feature - the capacity of moral reasoning. This

limits their ability to make good or ethical decisions in complex situations. Further, the most critical question is

whose moral standards should robots inherit. Moral values differ greatly from individual to individual, across

countries, religions, and ideological boundaries. Uncertainty over which moral framework to adopt underlies the

difficulty and limitations to ascribing moral values to artificial systems. (Al-Rodhan 2015)

4. Conclusion

We have recently entered the dawn of the fourth industrial evolution, in which it differs in speed, scale, complexity,

and transformative power compared to previous revolutions. This article has examined the opportunities and

challenges that are likely to arise as a result of the fourth industrial revolution. As industrial revolutions have moved

from the mechanization of production in the first industrial revolution, to the mass production in the second, and then

to the automation of production in third, the standards of living for most people around the world have greatly

improved. Undoubtedly, the capability of advancing technology coming forth from the latest industrial revolution has

the potential to make even bigger and greater improvements on every aspect of our lives changes than the first three

industrial revolutions summed together.

On the other hand, there are a variety of challenges stemming from the fourth industrial revolution to overcome.

From income inequality to cybersecurity, the benefits of the fourth industrial revolution have obstacles that must be

harnessed, directed and overcome, such as income inequality, cybersecurity, and ethical dilemmas. Technology and

advancements in science drive transformation around the world. They create ripple effects on societies, institutions,

and economies. They will transform the ways in which we live, work, and interact with one another. Understanding

these new technologies and their disruption potential is critical for all nations and especially developing countries.

The fourth industrial revolution may affect society and economy in a variety of ways. (Prisecaru 2016) First, a large

portion of people around the world are likely to use social-media platforms to connect, learn, and change information.

Second, a variety of innovative producers and competitors will have easy access to digital platforms of marketing,

sales, and distribution, thereby improving the quality and price of goods and services. Third, consumers will be more

and more involved in the production and distribution chains. The main effects of this revolution on the business

environment are the impact it will have on consumer expectations, product quality, the move toward collaborative

innovation, and innovations in organizational forms.

References

Al-Rodhan, N. (2015). The Moral Code: How to Teach Robots Right and Wrong. Retrieved from

https://www.foreignaffairs.com/articles/2015-08 -12/moral-code

Anderson, C. (2012). Makers: The New Industrial Revolution. New York: Crown Publishing.

Brynjolfsson, E., & McAfee, A. (2015). Will Humans Go the Way of Horses: Labor in the Second Machine Age.

Retrieved from https://www.foreignaffairs.com/articles/2015-06 -16/will-humans-go -way-horses

Brynjolfsson, E., McAfee, A., & Spence, M. (2014). New World Order: Labor, Capital, and Ideas in the Power Law

Economy. Retrieved from https://www.foreignaffairs.com/articles/united-st ates/2014-06 -04/new-world-order

Covey, S. (2005). The 8th Habit: From Effectiveness to Greatness (1st Free Press trade). New York: Free Press.

Dan Miller. (2016, September). Natural Language: The User Interface for the Fourth Industrial Revolution. Opus

Research Report.

Gershenfeld, N., & Vasseur, J. P. (2014). As Objects Go Online: The Promise (and Pitfalls) of the Internet of Things.

Retrieved from https://www.foreignaffairs.com/articles/2014-02 -12/objects-go -online

Goode, L. (2018). Everything Is Connected, And There's No Going Back. The Verge. Retrieved from

https://www.theverge.com/2018/1/17/16898728/ces-2018 -tech-trade-shows-gadgets-iot

ller, J., et al.. (2014). From Machine-to-Machine to the Internet of Things: Introduction to a New Age of

Intelligence (1st ed.). Amsterdam: Elsevier.

http://ijfr.sciedupress.com International Journal of Financial Research Vol. 9, No. 2; 2018

Published by Sciedu Press 95 ISSN 1923-4023 E-ISSN 1923-4031

Jee, Y.-S. (2017). Exercise rehabilitation in the fourth industrial revolution. Journal of Exercise Rehabilitation, 13 (3),

255-256. https://doi.org/10.12965/jer.1735012.506

Jules, T. D. (Ed.) (2017). Public Policy and Governance. The Global Educational Policy Environment in the Fourth

Industrial Revolution: Gate, Regulated and Governed. United Kingdom: Emerald Group Publishing Limited.

Lambert, L. (2017). The Four Challenges of the Fourth Industrial Revolution. Market Mogul . Retrieved from

https://themarketmogul.com/industry-4-0-challenges/?hvid=2Gt2CE

Leswing, K. (2017). Apple CEO Tim Cook: 'If I were a country leader, my goal would be to monopolize the world's

talent'. Business Insider. Retrieved from

http://www.businessinsider.com/apple-ceo-tim-cook-if-i-were-world-leader-my -goal-monopolize-talent-2017-9

Manyika, J., et al.. (2017, January). Harnessing Automation for A Future That Works . Report by McKinsey Global

Retrieved from

http://www.mckinsey.com/global-themes/digital-disruption/harnessing-automation-for-a-future-that-works

Peters, M. A. (2017). Technological Unemployment: Educating for the Fourth Industrial Revolution. Journal of

Self-Governance and Management Economics, 5(1), 25-33. https://doi.org/10.22381/JSME5120172

Prisecaru, P. (2016). Challenges of the Fourth Industrial Revolution. Knowledge Horizons. Economics, 8(1), 57-62.

Retrieved from

https://search-proquest-com.ezproxy.libraries.udmercy.edu:2443/docview/1793552558?accountid=28018

Romney, M. B., & Steinhart, P. J. (2018). Accounting Information Systems (14th ed .). New York: Pearson.

Schwab, K. (2015). The Fourth Industrial Revolution: What It Means and How to Respond. Retrieved from

https://www.foreignaffairs.com/articles/2015-12 -12/fourth-industrial-revolution.

Tilden, M. W. Robotics Can - And Will - Change Our Lives In The Near Future. Retrieved from

https://www.theguardian.com/zurichfuturology/story/0,,1920335,00.html guardian.co.uk

Wolf, M. (2015, Jul./Aug.). Same as It Ever Was: Why the Techno-optimists Are Wrong. In The Fourth Industrial

Revolution. Foreign Affairs.

... Trečioji pramonės revoliucija prasidėjo 1960 m., elektronika ir informacinės technologijos įgalino automatizuoti gamybą pasitelkiant robotus. Padidėjusią energijos paklausą patenkino branduolinė ir gamtinių dujų energetika (P. Prisecaru, 2016;M. Xu et al., 2018). Daugelis mokslininkų, tyrinėjančių 4-osios pramonės revoliucijos ypatumus, susiduria su sutarto apibrėžimo trūkumu. Šis trūkumas kelia rimtų apribojimų kuriant teorijas ir lyginant tyrimus. Nuo pradinio vokiečių pasiūlyto 4-osios pramonės revoliucijos sąvokos konceptualizavimo 2011 m. šio termino turinys labai pasikeitė, todėl atsirado ...

... Second, this process makes it easier for new producers and rivals to access markets (for instance, through marketing and distribution platforms). Third, consumers are increasingly involved in production and distribution chains (Xu, David, and Kim, 2018). These aspects are starting to affect and define the way commercial transactions are conducted, as well as consumer expectations on the quality of goods and services. ...

  • Walter Cont
  • Carlos Adrián Romero Carlos Adrián Romero
  • Germán Lleras
  • Sebastián López Azumendi

This edition of the IDEAL report focuses on the services provided by infrastructure, with digitalization as a cross-cutting topic. The report prioritizes electricity and urban passenger transportation, the two sectors that are most exposed to this form of technological progress. These sectors pose multiple and diverse challenges, in terms of things like innovation and safe provision, price-setting, and subsidy policies. With its latest IDEAL report, the CAF makes a contribution to development in Latin America and the Caribbean by suggesting a results-based approach focused on intervention and regulation in infrastructure services. This approach enables a broad understanding of the public policies needed to improve productivity and wellbeing in different countries and communities.

  • Tatiana V. Gudkova
  • Alisa S. Kasparyan

Currently, increased competition in all industries encourages enterprises to look for new ways to improve their competitiveness. Today, in the conditions of the digital economy, digital transformation, implying the introduction of modern technologies into all business processes, can become a key tool that allows you to quickly adapt to changes in market conditions. In this study, on the basis of regression analysis, the factors contributing to the success of the introduction of digital technologies at industrial enterprises in Russia, as well as the barriers that arise in the way of their digital transformation, are identified.

  • Nishant Agrawal
  • Rajesh Kumar Jain

Purpose The study of supply chain disruption (SCD) and supply chain resilience (SCR) remains to be studied deeply in the field of business management. The purpose of this paper is to showcase a framework of SCR strategies to reduce the adverse effects of SCD using systematic literature review and data visualization. Design/methodology/approach Using a systematic literature review approach, the paper explores the concepts of supply chain disruption and supply chain resilience. Through rigorous systematic screening, authors studied papers on both the concepts and have proposed a framework for the same. The authors also have used data visualization and network diagram approaches for better understanding of the topic. Findings The systematic literature review of both the concepts brings out some exciting results which give a new direction to supply chain field. The outcome of this research also outlines numerous future research direction, which will be useful for the research community. Practical implications The numerous strategies of SCR should be implemented by manufacturing as well as a service organization. The framework reported in this research help academician and practitioners to understand SCR and to easily overcome any level of disruption. Supply chain managers must also formulate strategies accordingly and make plans to continually expand the system. Originality/value This research is the first such attempt to showcase a formal systematic framework and co-occurrence networks as well as overlay networks of SCR and SCD.

  • Paul Nikolas Kompalik
  • Paul Philipp Menold

Additive Fertigung hat das Potenzial, die Industrie zu revolutionieren. Derzeit mangelt es noch an der Industrialisierung. Die Applikation der Service-Centered-Theorie erzeugt einen Mehrwert für Unternehmen als Hilfe bei der Entwicklung von marktfähigen Dienstleistungen für die Additive Fertigung. Unternehmen sollten vertieft Dienstleistungsangebote mit Abonnement entwickeln, um das Potenzial der ohnehin vorliegenden relationalen Kundenbeziehung bestmöglich auszuschöpfen.

BACKGROUND: Aircraft maintenance and repair are critical tasks in the aviation industry for improved aircraft service and safety. Many articles and reports describe personnel factor and skill issues contribute to many aircraft incidents. Aircraft maintenance personnel needs to level up their skill set to match with task requirements in the setting of Industry Revolution 4.0. OBJECTIVE: The aim of this paper is to investigate document set that describe human errors and skill mismatch as a human factor in aircraft incidents and problems. It also discusses on the findings and management of the aircraft maintenance skill issues. METHODS: The study uses a document analytics tool to assess a set of online articles that discuss aircraft maintenance incidents and skill mismatch issues. The experiment is divided into four (4) modules: I collection of online articles and reports, (ii) document pre-processing, (iii) text analytics, and (iv) visualisation. RESULTS: The experiment's results show that the majority of documents discuss aircraft maintenance, skill mismatch, and training gaps. CONCLUSION: We can conclude that the document dataset primarily discusses aircraft maintenance and skill set issues using the document analytics. Consequently, the management of aircraft maintenance workforce skill set issues by having initiatives for upskilling and reskilling Furthermore, firms should foster a culture of continuous learning and develop a mindset among their employees that allows them to adapt to new technologies and information in aircraft maintenance.

  • G.S. Sureshchandar

Purpose The disruptions caused by new-age technologies of Industry 4.0 are posing a formidable challenge to researchers, academicians and practitioners alike. Quality 4.0 that depicts the role of the quality function in the Industry 4.0 scenario must be comprehended so that the rudiments of Quality 4.0 are understood properly, and interventions can be made to embrace the new normal. As the literature on Quality 4.0 is extremely scarce, empirical studies are mandatory to augment the process of theory building. Design/methodology/approach The research work identifies 12 axes of the Quality 4.0 revolution based on literature review and insights from experts. Subsequently, a measurement model is formulated and an instrument to measure the level of Quality 4.0 implementation is developed. The measurement model has been checked for model fit, reliability and validity using the confirmatory factor analysis approach. Findings The proposed model was found to be adequate, reliable and valid and concludes that though technology plays a significant role in the development of the Quality 4.0 system, aspects of traditional quality are very much apropos to transform to the next frontier of quality. Research limitations/implications Implications for future research are provided which would help to further explore the nascent field of Quality 4.0. Practical implications This research would help the practitioners better understand the various requirements and measure the degree of implementation of a Quality 4.0 system. Originality/value The present research is perhaps the first of its kind in propounding a measurement model, through empirical analysis, for the betterment of the understanding of Quality 4.0 and its associated constituents.

Aviation encompasses a wide range of mechanical flights as well as the aircraft business. The industry is quickly expanding as travelers choose to travel by air due to the concept of a world without borders, lower rates, and global business activities. Thus, aircraft maintenance and repair are critical jobs in the aviation sector for improved aircraft service and safety. Despite this, numerous aviation disasters occur due to a variety of factors such as malfunctioning equipment, hazardous weather conditions such as turbulence, and human error. In this research, we used text mining to explore a set of internet articles and reports about aviation occurrences and difficulties. The method retrieves frequent and significant terms from the document set. The experiment is divided into four (4) modules: (i) collecting of web articles and reports, (ii) document preprocessing, (iii) text analytics, and (iv) visualization. The experiment's results show that the bulk of records describe aircraft maintenance, skill mismatch, and training shortages.

  • Umali Saidi Umali Saidi

Most, if not all, African countries continue to seek solutions to socio-economic and political challenges facing their citizens. Previous 'industrial' revolutions resulted in more harm on the African continent than good or relief. Either African countries had to import various political, economic policies and strategies from the West and East as a result, in the hope of easing poverty and underdevelopment or had the same imposed on them by the powerful authors of Industrial Revolutions. Zimbabwe has, as it where, not been spared in this matrix. For the country, the Fourth Industrial Revolution (4IR) spells tragedy as the expected symbols of socio-economic and political transformation are far and beyond the horizon. Using key aspects of semiotics, symbols and representation, this chapter attempts to show how Zimbabwe, like most African countries, appears to be far from being ready to partake in the global revolution of economic essence and development largely because of being in a continued state of inertia, sluggish tendencies as well as having slow-moving 'local revolutions'. The chapter further battles with two important questions that, were African countries ever ready for the previous three Industrial Revolutions, 1st, 2nd and 3rd? Is Africa ready for the current 4th Industrial Revolution? Will Africa ever be ready for the 5th, 6th, 7th or any forthcoming umpteenth revolutions which are more global than local? To engage these, and other related questions, the chapter hopes to onion-peel preparedness of Zimbabwe, and other African countries, to the 4IR. The chapter suggests ways on how Africa, and Zimbabwe in particular, can leapfrog as well as transform in order to benefit from these unavoidable global revolutions.

Water scarcity is very common in the arid region due to the low yearly rainfall. The cost of water for agricultural usage is extremely high in dry locations. Date palm is a high water-demanding tree throughout the year in arid regions. Therefore, the application of deficit irrigation strategies for date palm cultivation may significantly contribute to conserving irrigation water. The present study aimed to assess the effects of controlled deficit irrigation using two modern micro-irrigation systems on water use efficiency (WUE), gas exchange, fruit yield, and quality of date palm (Khalas cv.). The irrigation systems included drip irrigation (DI) and subsurface irrigation (SI) systems. The study was conducted during the 2020 and 2021 seasons at the Date Palm Research Center of Excellence, King Faisal University, Saudi Arabia. The meteorological variables of the study area were real-time monitored using cloud-based IoT (Internet of Things) to calculate the evapotranspiration reference (ETo) and control the irrigation scheduling. Three irrigation treatments (50, 75, and 100% ETc) were applied using DI and SI systems compared with the traditional surface bubbler irrigation (Control). The actual applied water at the deficit irrigation treatments of 50, 75, and 100% ETc were 27.28 ± 0.06, 44.14 ± 1.07, and 55.55 ± 0.37 m 3 palm −1 , respectively. At all deficit irrigation treatments, the leaf chlorophyll and gas exchange were significantly higher in the SI compared to the DI system. The yield of date palms did not differ significantly between the control and SI systems at both the level of 100 and 75% ETc. The WUE under the SI (1.09 kg m −3) was significantly higher than the DI system (0.52 kg m −3) at the 50% level. There was no significant difference regarding the fruit quality parameters between SI at 50% ETc and control at 100% ETc. Therefore, adopting deficit irrigation strategies using the SI system at 50% ETc level throughout the year could be suggested for date palm irrigation to save water, improve WUE, and maintain fruit quality.

  • Chris Anderson

"Wired" magazine editor and bestselling author Anderson takes readers to the front lines of a new industrial revolution as today's entrepreneurs, using open source design and 3-D printing, bring manufacturing to the desktop.

Not for download, only for purchase at Amazon or Elsevier. This book outlines the background and overall vision for the Internet of Things (IoT) and Machine- to-Machine (M2M) communications and services, including major standards. Key technologies are described, and include everything from physical instrumentation of devices to the cloud infrastructures used to collect data. Also included is how to derive information and knowledge, and how to integrate it into enterprise processes, as well as system architectures and regulatory requirements. Real-world service use case studies provide the hands-on knowledge needed to successfully develop and implement M2M and IoT technologies sustainably and profitably. Finally, the future vision for M2M technologies is described, including prospective changes in relevant standards. This book is written by experts in the technology and business aspects of Machine-to- Machine and Internet of Things, and who have experience in implementing solutions.

The Moral Code: How to Teach Robots Right and Wrong

  • N Al-Rodhan

Al-Rodhan, N. (2015). The Moral Code: How to Teach Robots Right and Wrong. Retrieved from https://www.foreignaffairs.com/articles/2015-08-12/moral-code

The 8th Habit: From Effectiveness to Greatness (1st Free Press trade)

  • S Covey

Covey, S. (2005). The 8th Habit: From Effectiveness to Greatness (1st Free Press trade). New York: Free Press.

Natural Language: The User Interface for the Fourth Industrial Revolution

  • Dan Miller

Dan Miller. (2016, September). Natural Language: The User Interface for the Fourth Industrial Revolution. Opus Research Report.