In recent years we have seen major advancements in the world’s industrial capabilities enabled by disruptive technologies including big data, the Internet of Things (IoT), cloud computing, artificial intelligence, and many others. This development has been captured in Germany’s high-tech national strategy, known as “Industry 4.0”, which reflects optimism in the advent of a fourth industrial revolution that would not only transform the manufacturing sector, but also impact working cultures and the wider society.
Similar initiatives have also been mooted in Asia, from Singapore’s “Smart Nation Initiative” to Japan’s “Society 5.0” agenda to embrace a “Super Smart Society,” and China’s agenda to pursue industrial upgrades and smart manufacturing, focusing on strategically critical areas such as big data and artificial intelligence.