New technologies will not only change the physical scenario across workplaces but will impact our processes, systems, policies, concepts and above all mental constructs particularly in the domain of people management
A lot has been said and written about the new industrial revolution and how it will not only change the way we work, but also the way we live and relate to one another. The First Industrial Revolution saw steam-powered machines mechanize production. The Second Industrial Revolution saw electricity replace steam to create mass production. The Third used electronics and information technology to automate production. Now, a Fourth Industrial Revolution (4IR) is underway which is characterized by a fusion of technologies that is blurring the lines between the physical, digital, and biological spheres.
As a corollary to the above, a concomitant dynamic change in the world of work will be introduced, which will be shaped by a range of new disruptive technologies and innovations. This would involve processes and products ranging from driverless cars, smart robots, artificial intelligence (AI), nano technology, the Internet of Things (IoT), Virtual Reality (VR) for the digital world and 3D printing amongst the few, which beckon the future. These technologies will spring forth significant, seismic, rapidly evolving and long lasting change to the way businesses will operate in future. Market turbulence will be the new norm and a paradigm shift in the possible approaches to handle this volatility and complexity shall have to necessarily get conceptualized and enunciated.
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