So, what is the Fourth Industrial Revolution? What potential gains and challenges arise from it? And how does GMIS address these issues?
The Global Manufacturing and Industrialisation Summit promotes a dialogue to enable policymakers, global organisations, small and medium enterprises (SMEs), researchers and academics and other stakeholders to work towards the realisation of the positive potential of manufacturing, while also preparing for some of its potential challenges. For example, greater and more self-controlled automation in industrial production does hold the risk of significant job losses, posing challenges to labour markets and social welfare systems.
While companies can realise tremendous benefits through applying new manufacturing technologies and knowledge, accompanying measures need to be taken to allow laid-o! workers to learn new skills and move to new jobs. While some national governments have already formulated policies to best harness the 4IR for their countries, others, particularly in the developing world, face greater obstacles, and thus may risk missing out on its benefits.
GMIS, through a multi-dimensional approach, aims to raise awareness of these obstacles with the hope of guiding governments and organisations throughout the world to address such challenges, while also embracing the potential of the 4IR.