The Fourth Industrial Revolution doesn’t have to be your enemy. We’re witnessing a shift where unforeseen technological innovation and advances are driving customer expectations. These demands often pose challenges to industries, companies and leaders to not only deliver on their customers’ needs but understand how these technological advancements can benefit their businesses. Moreover, they must begin to anticipate market changes driven by technological innovation.
When tackling the fourth Industrial Revolution (4IR), there are four primary factors business leaders should consider:
- Strategy: Blending disparate emerging technologies to advance strategic goals is one of the key challenges in preparation for the 4IR.
- Growth: When a 4IR strategy is designed and carried out correctly, it is agile and resilient, capable of incorporating tomorrow’s new technology and business models with as little disruption or redesign as possible.
- Trust: Data powers the revolution. But customers’ willingness to entrust companies with sensitive information about their lives and businesses hinges on the quality of experience offered to them and knowing their data is protected.
- Workforce: Demand for digital talent is at an all-time high, and companies cannot wait for there to be enough graduates or trainees to fill it.