Human Capital in the Smart Manufacturing and Industry 4.0 Revolution

Joseph Evans Agolla

A chapter in Digital Transformation in Smart Manufacturing from IntechOpen

Abstract: The purpose of this chapter is to highlight the important role of human capital management in the Smart Manufacturing and Industry 4.0 revolution. Two hundred years ago, industrial revolution in the west has transformed or evolved from mechanical production driven or powered by water, and to date, we are in an era characterised by cyber physical systems. This transformation or industrial revolution has been driven by humans using creative minds to solve problems that were confronted. The Industrial 1.0 Revolution around 1700 AD, mass production was carried out by mechanical production powered by water (steam engines), which was labour intensive. The more manpower an industrial organisation has, the more goods and services would be produced, though this could take long to reach the market but that was the industrial system at that time. From mechanical production powered by steam engines between 1700s and 1800s to the second Industrial Revolution mass production powered by electricity between 1800s and 1900s to the third Industrial Revolution powered by electronic and IT automation and finally to Industry 4.0 Revolution cyber systems in 2000 and beyond, human capital has generated innovative solutions to human problems more than ever before. Today, human capital is not only creative, but rather a super human capital.

Keywords: human capital; cyber physical space; industry 4.0 revolution; innovation; management; virtual organisations (search for similar items in EconPapers)
JEL-codes: O14 (search for similar items in EconPapers)
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Citations: View citations in EconPapers (8)

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Persistent link: https://EconPapers.repec.org/RePEc:ito:pchaps:123157

DOI: 10.5772/intechopen.73575

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