The Fourth Industrial Revolution or also known as 4IR, is the fourth major industrial era since the initial Industrial Revolution of the 18th century. It can be described as a range of new technologies that are fusing the physical, digital and biologicals worlds, which naturally impacting all disciplines, economies and industries.

Professor Klaus Schwab, Founder and Executive Chairman of the World Economic Forum has associated it with the ‘second machine age’ in terms of the effects of digitalization and AI on the economy. Schwab sees as part of this revolution emerging technology breakthroughs in fields such as artificial intelligence, robotics, quantum computing and nanotechnology. We are in fact at the beginning of a revolution that is fundamentally changing the way we live, work and relate to one another.

According to Professor Schwab, the resulting shifts and disruptions mean that we live in a time of great promise and great peril. The world has the potential to connect billions more people to digital networks, dramatically improve the efficiency of organizations and even manage assets in ways that can help regenerate the natural environment, potentially undoing the damage of previous industrial revolutions.

However, where there is change, there is also the potential of great concerns. For example, organisations might be unable to adapt, government could fail to employ and regulate new technologies to capture their benefits, shifting power will create important new security concerns, inequality may grow, and societies fragment. We have learned from our mistakes in past revolutions and are already implementing steps to move easier into the 4IR.

Are you ready to embrace the 4IR? Save yourself time & money and engage an experienced business consulting firm like Synergy Consulting Australia to take the stress out of the entire business growth process. We provide a large range of business consulting services which includes Legal, Accounting, Marketing, Project Management, Migration services and many more tailored business solutions. This also includes a full market research and feasibility report before investing.

Synergy Consulting Australia is led by Ilona Solinska. Ilona has over 15 years’ national and international business consulting experience. She has coached hundreds of businesses in the area of Marketing, Finance, Legal, Compliance, Operation, Change & Project Management and is a highly sought-after presenter on a wide variety of business topics.