First of all, an overview of the Fourth Industrial Revolution (4IR). This term describes the explosion of technology, industries and societal platforms and processes in the 21st century, thanks to increased interconnectivity and smart automation. We are standing on the brink of a technological revolution that will fundamentally alter the way we live, work, and connect to one another. The scale, scope and complexity of this transformation will be unlike anything humankind has ever experienced.
Looking back, the First Industrial Revolution used water and steam power to mechanize production. The Second utilized electric power to facilitate mass production. The Third used electronics and information technology to automate production. This brings us to the Fourth Industrial Revolution, which is fusing ground-breaking technologies that blur the lines between the physical, digital, and biological spheres, disrupting almost every industry in every country on the planet, and creating a new dynamic known as IoT (Internet of Things). IoT is a term used to describe objects and devices that are embedded with sensors, software, processing ability and a range of technologies that allow for connection and exchange of data.
Powered by the fifth generation of wireless technologies (5G), AI and IoT, today’s businesses are positioned to experience a transformative level of connectivity. 5G delivers a reduction of latency that is critical to products such as the self-driving car, for instance. And while manufacturers are experiencing challenges in deploying these technologies and making them work together, the fact remains that the more digital a sector gets, the bigger the performance difference between the leaders and the laggards.
Today, connectivity is driving real business outcomes, through the manufacturing process, supply chain resiliency, workforce management and beyond. And those businesses that have already invested in pre-5G infrastructure and are able to implement some of these other enabling technologies will be able to accelerate with the deployment of 5G.
A great example of this paradigm can be observed in the World Economic Forum, which looked at the top 1,000 global manufacturers and their adoption of technology on the shop floor and throughout their supply chains. These 4IR frontrunners achieved their standing through deployment of powerful and innovative manufacturing technologies – in fact, 4IR innovations are expected to create up to $3.7 trillion in value by 2025. Considering that out of the ten million factories around the globe, only 20% are connected with WiFi, and that’s a lot of catch-up that needs to happen.
Businesses across all sectors that are focused on catching up or maintaining their competitive edge can benefit by partnering with one of the leading global BPO outsourcing companies. With a twenty-year background in the business process outsourcing industry, Anexa is one such front runner. Anexa has built an unmatched reputation in the highly competitive customer service and CX field by subscribing to the well-known business principle “hire for attitude, train for skill”. Our agents pride themselves on representing brands with authenticity and customer-centric focus. We also provide a range of back-office services that – if performed in-house – can sometimes shift business focus from where it’s needed most: keeping your eye on the tidal wave of changes that are disrupting nearly every industry, heralding the transformation of entire business systems.
Questions? Reach out to Anexa today.