The Fourth Industrial Revolution in Pakistan

The fourth industrial revolution in Pakistan

The fourth wave, in the true sense of the word, is called the current trend of automation and data exchange in manufacturing technologies. This includes cyber-physical systems, the internet of things, cloud computing and cognitive computing. Initially, previous industrial revolutions freed humanity from animal energy, making mass production possible and enabling billions of people to access digital resources.

This fourth industrial revolution, however, is fundamentally different. It is characterized by a multitude of new technologies that merge the physical, digital and biological worlds, affecting all disciplines, economies and industries, and even challenging ideas about what it means for humans. The resulting changes and interruptions mean that we are living through a period of great promise and great danger.

The world has the capacity to connect several people to digital networks, dramatically improve the effectiveness of organizations, and even manage assets to help regenerate the natural environment, potentially reversing the damage caused by previous industrial revolutions.

However, in Pakistan an organization may be unable to adapt, governments may not use and regulate new technologies to reap the benefits, and the change of power will create significant new security concerns. In addition, thanks to advanced technology, the mobile phone has evolved considerably – the transition to the smartphone. This has been made possible by digital technology, which has created a common platform fulfilling several functions:

Communication and the Internet: images, videos, GPS, digital cameras form a wave in fundamental mutation, whose features are used to reshape the production of the company. There is a consensus that four industrial revolutions can be associated with new technological waves. Innovations related to energy steam, cotton, steel, and railways contributed to the first industrial revolution in mass production. The second was aroused by the bringing electricity, and the third by innovations in the fields of electronics and computer science, petrochemicals and aerospace. A host of new technologies are driving a wave of innovation in the fourth wave.

We can understand via the Internet, nanotechnologies, biosciences, electronics, photonics, advanced materials and renewable energies. Changes in our own techno-economic system, which began in the mid-1980s, have transformed the century into evidence of its impact on our production methods.

Why these crave for the fourth industrial revolution in Pakistan?

Skills will govern the job market!

One of the most important and direct impacts of the fourth industrial revolution in Pakistan will be felt in the labor market. The growing technological invasion will cause a significant share of job losses, especially for low-skilled jobs. There will be a great wave in the request for highly skilled jobs. You will definitely be using smart coders for driverless cars, are not you? Increased technological automation will result in the net displacement of workers, followed by increased growth and demand for secure and rewarding jobs. A report by UBS said the spread of AI and robotics would hurt economies such as Pakistan and some Latin American countries by reducing their advantage of cheap labor.

Improve the quality of life

Technology has improvised the quality of life of people since its creation. The availability of new products, easier market access, increased efficiency, privacy, and an accessible digital world are coming soon; from the most up-to-date daily needs, such as transaction and product purchase, to occasional personal needs such as listening to music or watching a movie; will be done remotely and easily. The fourth industrial revolution will bring about a qualitative transformation of people’s lives.

A huge gain in efficiency and productivity

It goes without saying that automation, nanotechnologies and technological innovation will be a miracle in terms of efficiency and productivity. Long-term gains are guaranteed. Lowering transport and communication costs, biotechnologies, digital manufacturing, synthetic biology, computer design, increasing the efficiency of global logistics and supply chains, and reducing the cost of trade will boost economic growth and open new markets. Today, it is easier to manage trade with fewer workers than half a century ago. A business can make a lot of money with a smart app that requires minimal capital, while ignoring storage, logistics, and shipping costs.

Effect of the fourth industrial revolution in Pakistan

This revolution will affect the low-cost and low-skilled Indian labor market. According to a report from UBS, “Automation will continue to drive down the wages of the least qualified and begins to impact the job prospects of middle-level workers; on the other hand, the potential earnings of highly skilled workers and more adaptable are growing “.

It will be necessary to improve skills and invest heavily in qualification initiatives. “However, workers who, until now, felt safe from robot competition, i.e. those in low-skilled occupations, could be the most disrupted,” says the UBS report.

Pakistan governance will face a major challenge to work with dynamic data in real-time. However, transparency will increase, especially in the notoriously opaque sectors such as real estate. There will be the use of electronic wallets instead of money.

Establishing 4G connectivity (which is part of the fourth industrial revolution) will enable young people in small towns and villages to take online courses open to all (MOOC) and facilitate the marketing of agricultural products at the right price.

Increased connectivity could also have a side effect. “Connectivity increases the risks posed by cyber threats, and the scale of these threats increases because networks connect.” Extreme connectivity also generates geopolitical tensions as it increases the ability of various groups to organize, and to manifest.

However, the era of 3D printing will increase Pakistan’s investment in space research; 3D printing can help you easily create space satellites. A progressive tax system will generate equity.

Conclusion

Based on the third industrial revolution, the fourth is waiting for a major upheaval to mark its beginning. Many instabilities and unpredictability are associated with the beginning of this new digital revolution. A possible change in the smartphone industry or any new technological innovation to clean up the current technical aspects will mark the beginning of the fourth industrial revolution. An invention that will “robotize” humanity will define the fourth industrial revolution.