It’s a well-known fact that technology is advancing at a quick rate – it illuminates how we live, work and interact with the world, at home and in the workplace. We are in the middle of the fourth revolution and it’s very easy to feel overpowered. This revolution isn’t just for big businesses, smaller companies should be involved and apply technologies in their businesses to maximise their productivity.
The 4th industrial revolution utilises technologies, for example, Artificial Intelligence, machine learning and data analytics to filter through the mountains of information that we are bombarded with every day to pick out nuggets, and even make better decisions on our behalf, based on algorithms. Artificial intelligence can create a medical diagnosis from an x-ray quicker than a radiologist and with pinpoint precision.
Robots can manufacture cars quicker and with more accuracy than assembly line workers. They can possibly mine base metals like platinum and copper, crucial ingredients for renewable energy and carbon cleaning technologies. Remote sensing and satellite imagery may help to locate a blocked storm water drain within minutes and avoid city flooding. Vertical farming areas could solve food security challenges. No revolution comes without dangers. One in this case is rising joblessness.
However, I unequivocally believe that these innovations will make industry – and the world – stronger and better. The change brought by the Fourth Industrial Revolution is inescapable, not discretionary. And the possible rewards are faltering: heightened standards of living; enhanced safety and security; and enormously increased human capacity. As difficult as it may be, the future of work looks very different from the past.Technology will directly impact social values, such as work flexibility, autonomy, and income.
Forbes predicts that by 2027, the greater part of American workers will be freelancing. Working from anywhere, at any time, is now a realistic and tempting alternative. I imagine people with grit, inventiveness and entrepreneurial spirit will grasp this future, rather than cling to the status quo.People can be better at their jobs with the technology of today—and the technology that is yet to come—rather than fearing that their human skills will be debased.
Whats even more interesting is that ,the industries of 4IR, which are fuelled by AI, for example, social media, have changed our lives fundamentally. Many of us are dependent on these technological gadgets. It is often said that one of the most effective tools of torment is to separate people from their Facebook, Twitter and Instagram accounts, regardless of whether its 7 days. The technologies of the 4IR offer great entertainment but what are the underlying business business opportunities that they offer for entrepreneurs? The answer is ………… Entrepreneurial Marketing!