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  • Karen Xaviour

    December 26, 2021 at 8:55 pm

    IR4.0 is still only a buzzword for a lot of people in Malaysia. To some people it is even a completely new term and for some, it is heard somewhere. As a result, a very little amount of people really knows about the industrial revolution 4.0. This case is even seen for the employers, industrial managements and also for the investors. IR4.0 is a completely new term for the normal people. The marketing around IR4.0, or the discussion sessions regarding IR4.0 is very limited. As a result, people do not get the chance to know fully about it. General people need to know about IR 4.0 because they are the ones who are going to be benefited by the implementation of this. Investors are crucial in this case as they are the people who are closely related to the implementation process of IR 4.0.

    One of the main theme of IR4.0 is that there is going to be a huge usage of new technologies. This obviously would need hefty amount of investments. However, investments into new sectors contain risk of loss. Therefore, investors would not be so willing to come forward. An example can be given from an article of digitalnewasia.com. Industry 4.0 consultant and training provider Knowledge.com Corporation Sdn Bhd chief executive officer S T Rubaneswaran points out that local small-and-medium enterprises (SMEs) are far from ready to adopt Industry 4.0.

    New technologies, mainly digitalization, information technology, and communication technology are changing how corporations produce and deliver customer service. The development of human capital has generated, in this way, an innovative solution. Nowadays, human capital is not only creative but also is a super human capital. At the heart of the 4.0 revolution is the information and communications technology, which, together with artificial intelligence, profoundly influences the economic-social environment, the life of each individual and the relationships established on a global scale.

    In the next decades, certain professions will be gradually taken over by industrial robots, so that a large part of the jobs will be affected. Thus, traditional roles in production, agriculture, utilities will disappear but new jobs in health, education, and service delivery will emerge. However, these new jobs will require employees to acquire new skills, especially digital ones. Nowadays, the employees who are most afraid of job automation are those whose formal education is precarious. Continuous retraining of employees is the most commonly used method to reduce skill differences. Companies need to get involved and support education. Governments must support continuing education programs. Industry 4.0 needs Education 4.0.

    To meet the needs of the economy in the future, Education 4.0 must be viewed from a four-dimensional perspective: vocational education, entrepreneurial education, financial education, and digital education.