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Progression Towards Industry 4.0

Transformation and Change requires overcoming adverse hurdles that often are rooted in resistance due to fear. The advent of Industry 4.0 has certainly generated unnecessary cause for concern in many still clinging to traditionalistic methods of business and operations. Driven by data that enables faster, flexible, less wasteful and more efficient processes. IR4.0 eases many lives through strategic harnessing of Big Data, Augmented Reality, Simulation, Internet of Things, Cloud Computing, Cyber Security, Systems Integration, Additive Manufacturing and Autonomous Systems, These elements come together to elevate the significance of Artificial Intelligence in day-to-day operations that encompasses Home, Work and Play.


Disruption for Evolution

Economic and social disruption due to the advent of Industry 4.0 are inevitable. While job automation via AI and machine learning will render hundreds of thousands of current staff redundant, it also provides the opportunity for human capital to be reskilled and upskilled, especially in managing higher-order-tasks. By 2030, it is estimated that 46.4 per cent of jobs in manufacturing, 32.3 per cent in finance and 44 per cent in wholesale and retail are forecasted to be redundant, requiring a more skilled and specialist workforce that will be geared towards immersive user / consumer experience.


Committed for Growth and Sustainability

Malaysia is committed to be a Key IR4.0 Leader in the region, and various efforts across Government and Corporate Sector are indicative of the importance of Industry 4.0 to the Nation’s Growth. Under Budget 2019, a sum of RM210 million has been allocated to spearhead efforts to support the transition and migration of Malaysian SMEs and Corporations to Industry 4.0, with 2021 as the deadline.

These efforts include Identifying and nurturing specific economic sectors especially within the SME community, as IR 4.0 continuously transforms the way we interact with the world around us.

With such changes, new challenges arise bringing with it plenty of opportunities for SMEs:
  • Understanding your business case
  • New business models — What strategies need to be in place to stay relevant
  • Revitalising organizational structure, process workflows and compliance framework to optimise potential outcomes
  • Embracing agility to adapt to situational and market demands, without compromising core focus
  • Continuously creating and testing 'pilot products/services' to enhance customer experiences
  • Realigning organisational focus and priorities towards sustainability and growth despite disruption pushing diversification
  • Transformational management as Key Driver for Moving Forward
  • Company Culture Transformation
  • Boosting pertinent and intelligent interconnection between all departments, harnessing technology as Key Connector
  • Recruiting, developing and retaining lifelong-learning-focused talent



Green Revolution

Unlike the previous evolutions of the Industrial Revolution, Industry 4.0 is committed towards being its greenest. More proactive efforts are being undertaken towards resource management with increased process efficiencies, aimed at positively improving the environment.

The concept of sustainability is reaching vibrancy, as more businesses embrace environmentally-friendly standards, focusing on long-term goals amidst a sense of holistic responsibility for the environment, the economy, and society. With improved manufacturing processes and management goals, Industry 4.0 will help move the needle towards a greener, more sustainable economy.

Progression Towards Industry 4.0

Transformation and Change requires overcoming adverse hurdles that often are rooted in resistance due to fear. The advent of Industry 4.0 has certainly generated unnecessary cause for concern in many still clinging to traditionalistic methods of business and operations. Driven by data that enables faster, flexible, less wasteful and more efficient processes. IR4.0 eases many lives through strategic harnessing of Big Data, Augmented Reality, Simulation, Internet of Things, Cloud Computing, Cyber Security, Systems Integration, Additive Manufacturing and Autonomous Systems, These elements come together to elevate the significance of Artificial Intelligence in day-to-day operations that encompasses Home, Work and Play.


Disruption for Evolution

Economic and social disruption due to the advent of Industry 4.0 are inevitable. While job automation via AI and machine learning will render hundreds of thousands of current staff redundant, it also provides the opportunity for human capital to be reskilled and upskilled, especially in managing higher-order-tasks. By 2030, it is estimated that 46.4 per cent of jobs in manufacturing, 32.3 per cent in finance and 44 per cent in wholesale and retail are forecasted to be redundant, requiring a more skilled and specialist workforce that will be geared towards immersive user / consumer experience.


Committed for Growth and Sustainability

Malaysia is committed to be a Key IR4.0 Leader in the region, and various efforts across Government and Corporate Sector are indicative of the importance of Industry 4.0 to the Nation’s Growth. Under Budget 2019, a sum of RM210 million has been allocated to spearhead efforts to support the transition and migration of Malaysian SMEs and Corporations to Industry 4.0, with 2021 as the deadline.

These efforts include Identifying and nurturing specific economic sectors especially within the SME community, as IR 4.0 continuously transforms the way we interact with the world around us.

With such changes, new challenges arise bringing with it plenty of opportunities for SMEs:
  • Understanding your business case
  • New business models — What strategies need to be in place to stay relevant
  • Revitalising organizational structure, process workflows and compliance framework to optimise potential outcomes
  • Embracing agility to adapt to situational and market demands, without compromising core focus
  • Continuously creating and testing 'pilot products/services' to enhance customer experiences
  • Realigning organisational focus and priorities towards sustainability and growth despite disruption pushing diversification
  • Transformational management as Key Driver for Moving Forward
  • Company Culture Transformation
  • Boosting pertinent and intelligent interconnection between all departments, harnessing technology as Key Connector
  • Recruiting, developing and retaining lifelong-learning-focused talent



Green Revolution

Unlike the previous evolutions of the Industrial Revolution, Industry 4.0 is committed towards being its greenest. More proactive efforts are being undertaken towards resource management with increased process efficiencies, aimed at positively improving the environment.

The concept of sustainability is reaching vibrancy, as more businesses embrace environmentally-friendly standards, focusing on long-term goals amidst a sense of holistic responsibility for the environment, the economy, and society. With improved manufacturing processes and management goals, Industry 4.0 will help move the needle towards a greener, more sustainable economy.

 

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