discussion board

Industry 4.0 Professor Patrick Lynch

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10k BCE 8k BCE 6k BCE 4k BCE 2k BCE 0 1k 2k

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Early Agriculture Pottery Plow Irrigation 1st Cities

Literature & Math

Industrial Revolution

Penicillin

Computers & Internet

Nuclear Energy

Big Data & Blockchain

Machine Learning, AI Automation*

Technologies Created with <1M people on the planet...

~1 Billion @ 1800; ~2 Billion @1930; ~7.7 Billion today *Automation: Software and Robotic

Industry 4.0

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10k BCE 8k BCE 6k BCE 4k BCE 2k BCE 0 1k 2k

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Early Agriculture Pottery Plow Irrigation 1st Cities

Literature & Math

Industrial Revolution

Penicillin

Computers & Internet

Nuclear Energy

Big Data & Blockchain

Machine Learning, AI Automation*

Technologies Created with <1M people on the planet...

Source: The World as 100 People Over the Last Two Centuries by Max Roser

83% greater basic education 89% less poverty 91% less child mortality

During the industrial revolutions of the past 200 years...

The Analytic March Toward Industry 4.0

INDUSTRY 1.0 • Mechanization

• Clocks

1700s

INDUSTRY 2.0

• Mass Production

• Workflow

1800s

INDUSTRY 3.0

• Computers / Intranet

• Automation

1900s

INDUSTRY 4.0

• Exponential Data Exhaust

• Machine Learning, Artificial Intelligence, Blockchain

Industry 4.0 Analytics

More data and measurement than ever before in human history

Potentially omnipotent measures of supply chains, customers, operations

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“The world’s most valuable resource is no longer oil, but data”

--The Economist, May 6, 2017

Industrial Revolution 4.0

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Industry 4.0: An analytic revolution underway

A digital industrial revolution is swiftly causing global businesses to rethink revenue models.

Digital analytics are transforming how customers are found, serviced, and kept.

Business operations are retooling as digital technology changes partnerships, suppliers, and vendors.

The future prosperity of society will be defined by how we creatively use, deploy, and assimilate digital technologies in all the sectors of the economy and by how the culture is shaped by this paradigm shift.

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Industry 4.0: An analytic revolution underway

“As AI Makes More Decisions, the Nature of Leadership Will Change” HBR, Jan 22, 2018

“A digital revolution in health care is speeding up” Economist, May 2, 2017

“Blockchain applications could bring overdue change to critical functions in shipping, real estate.” WSJ, March 11, 2018

Future of Organizations & Work: Broad and Deep Change

A changing world demands new approaches to leadership, talent management, and organization.

Retraining and reskilling workers in the age of automation. McKinsey, 2018, Jan 18

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Industry 4.0: An analytic revolution underway Innovative Technologies and Analytics:

Big data, AI/machine learning, Internet of Things, AR/VR, automation

Innovative Efficiencies and Productivity: Digital marketing, sales, products, services and operations, 360 view of customers & markets

Innovative Globalism: Digital infrastructure, “smart cities”, privacy, security, and trade, labor changes, future of work

Digital Technologies &

Analytics

Business & Industry

Government & Policy

Globalization 4.0, Shaping a New Global Architecture in the Age of the Fourth Industrial Revolution, World Economic Forum, April, 2019

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Industry 4.0: Transforming how we organize and work

Innovations are spawning from new cross-functional collaborations that challenge traditional policy and leadership philosophies about how people are hired, managed, and organized.

Digital Technologies &

Analytics

Business & Industry

Government & Policy

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Industry 4.0: Is transforming talent and skills

Business people with analytic acumen, not just data scientists.

The C-Suite is now among “Common analytics-enabled jobs”

Data-Driven Decision Makers

Business Functional Analysts

IT Data Engineers (Hardware & Software)

Data Scientists and Advanced Analysts

Analytics-enabled Jobs Data Science Jobs

52% 35% 20% 2%Multi-Industries Finance & Insurance

Health Care Manufacturing

Professional Retail Trade

% of U.S. Jobs requiring analytical skills across industries PWC 2017 analysis

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Takeaway Summary

Industrial Revolutions are related to analytics and new ways of getting things done.

Industry 4.0 and analytics impact all economic sectors.

Analytic enabled jobs growing across all sectors.