In the business world, the term “Fourth Industrial Revolution” is gradually gaining traction. What began with steam and water power has evolved into advanced computerisation and technology that is ready to disrupt virtually every industry at breakneck speed.
Despite the fact that it appears to be the next step in the Digital Revolution, this revolution is unique in its own right. It is disrupting every industry on a global scale and driving monumental change at unprecedented speed.Before you can plan for the future, you must first understand both the opportunities and the challenges.
One of the most pressing challenges is that stakeholders’ and decision makers’ approaches are often conventional and nonlinear, preventing strategic thinking about future-shaping innovations. Furthermore, the revolution’s changes may be so rapid and severe that even the early adopters may be left behind. In other situations, the changes may set off a chain reaction, making it difficult to catch up. As a result, any company’s future strategy must be well prepared in order to minimise the damage.
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