The Fourth Industrial Revolution

Paul Turner ()
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Paul Turner: Leeds Beckett University-Associate

Chapter 2 in Complementarity in Organizations, 2022, pp 31-58 from Springer

Abstract: Abstract The Fourth Industrial Revolution will, by its scope, velocity, and system impact change the competitive landscape. It will bring radical alterations to the structure and functions of socio-economic systems to cope with a complex, knowledge-based economy. Pervasive machine automation applications, together with borderless and dynamic environments will converge in almost every aspect of industry and commerce, from smart factories using the new developments to increase productivity and efficiency, to smart offices combining digital systems to create new products and services. Its characteristics are the connection of technologies which integrate the physical, digital, and biological worlds through Cyber-Physical Systems which communicate via the Internet of Things. It will present business opportunities through the integration of different technics and domains. These dynamics will involve changes that are capable of transforming production, management, and governance. Organisational competitiveness will depend on the ability to integrate new technologies across the value chain from product design to sourcing of materials in the supply chain to manufacture to marketing. It will rely on the orchestration of assets to create not only new products and services but also new business models.

Keywords: Technology; Internet of things; Automation; Artificial intelligence (search for similar items in EconPapers)
Date: 2022
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Persistent link: https://EconPapers.repec.org/RePEc:spr:sprchp:978-3-031-10654-5_2

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DOI: 10.1007/978-3-031-10654-5_2

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