Disruptive forces: Always in “beta”
Today, rapidly evolving technologies, business models, demographics, and workplace attitudes are all shifting concurrently. Disruption is indeed a prevailing theme. However, taking the buzz out of the hype, businesses need to embrace disruption to succeed.
The world of tomorrow will not be the same as what we see today. Disruptive forces will affect all levels of society and its impact will be deeply felt throughout the nation.
Therefore, we need to prepare for this disruption and instead of being disrupted, we manage and plan this disruption by transforming it into a driving force for further national growth. Some of the disruptive waves that we foresee will impact us soon are:
Opportunities and challenges for Malaysia’s Industry 4.0
With emerging Industry 4.0 practices, winners will be determined by industries that are quick to respond to the change and adapt accordingly. Unfortunately, for those resistant to these changes, it will be a very challenging landscape. Are we ready to be winners or are we set to be swept away by this revolution?
Here are three key considerations as suggested by MIGHT:
- At this initial stage, work to identify gaps than can be filled in order to get these companies up to speed with Industry 4.0.
- We assess the level of disruption within the sectors, individual businesses and companies to help revise their strategies and plan for the changes.
- One of the interesting features of Industry 4.0 is “always in beta”. If we take the analogy of the software industry, software developers will put their software in beta for the (selected) public to test it and give their feedbacks over and over again.
Case in point, up to a point when the software developers are sufficiently satisfied that they have incorporated the common specifications from the users, then only will they release the software for sale to the masses.
Even then, they will continuously upgrade the software for any glitches and/or customer’s suggestions. What does this mean to governments as policy makers? The policymakers too need to put their policies, blueprints and roadmaps in ‘beta’ and adapt them to the changing environment.
Significantly, we are in a new ball game: the private sector must explore new business models while the government must be proactive, responsive and amenable to restructure its policies to support the new revolution. It is high time for policies to be agile in this new age of technological disruption. To learn more about the topic, you can read the original article here.
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