February 7, 2023

The future of IR 4.0

by Jaafar Mohamed

The future of IR 4.0

The beauty of technology is undeniable, especially in the age of the Fourth Industrial Revolution (IR 4.0). It has simplified previously complex processes, automated previously manual tasks, and tasks and communication can be completed at any time and from any location using an internet connection and convenient and user-friendly new-age technological tools such as augmented reality (AR) and virtual reality (VR) gadgets.

With, technology evolves at a rapid pace, and individuals and organizations alike should always keep up with contemporary trends and embrace digital transformation and forward-thinking approaches to elevate their employability or business model respectability to greater heights and stay ahead of their competitors.

So, what can we expect for the future of IR 4.0?

Individuals with expertise in IR 4.0 technology, such as big data, cybersecurity, cloud computing, IoT, and automation specialists, as well as fintech specialists, will be in high demand in 2023 and beyond.

Disruptive technology is gradually replacing and taking over brick-and-mortar establishments.

Your gas-powered vehicle, which gets you from point A to point B but isn’t exactly environmentally friendly? They will slowly be replaced with hybrid or electric-powered vehicles.

The Malaysian economy is expected to grow exponentially, through the capitalization of digitalization and technology. This will help with Malaysia’s quest of becoming a high-income nation soon, adhering to the roadmap detailed in the Malaysian Digital Economy Blueprint (MDEB).

The National IR 4.0 Policy and MDEB are expected to give Malaysians better access to learning methods and skills enhancement powered by Edutech, according to the News Straits Times. This will not only help them to be equipped with in-demand skills that could garner a higher income but also give them access to qualifications that are recognised worldwide.

Furthermore, with government bodies such as Yayasan Peneraju, MOSTI, KPT, and educational institutions such as UNIMAS offering sponsorship IT programmes to prepare young scholars for bright and lucrative career opportunities in the IT and digital fields,

As Malaysia is on track towards building a Smart Nation, the Build a Future Team (BAFT) is bridging the access gap for the Malaysian workforce and youths to gain professional certifications, as well as upskill and reskill themselves to carve themselves a bright future—at an affordable rate.

Now is the time to expand your horizons, and the way forward is to embrace digitalization and utilize IR 4.0 tools and technology.

“The Fourth Industrial Revolution is still in its nascent state. But with the swift pace of change and disruption to business and society, the time to join in is now”. Gary Coleman, Deloitte Consulting’s Global Industry Leader and Senior Client Advisor

 

 

How will Industry 4.0 impact the workforce?

With Industry 4.0 making our lives easier, whether it be with performing daily routines or working on the manufacturing or production line. This could be in the form of minimizing human error and automating tasks that were once seen as manual labour.

Does this automatically mean more and more people will have to forego labour-intensive jobs that will be replaced by robots? Or does this mean that new roles and human expertise have to be generated to keep people productive and innovative in creating value that robots lack the capability of producing?

One thing’s for sure: skills such as IoT Technology, Cybersecurity, Cloud technology, or Big Data will be in higher demand and will earn potential specialists in these fields a lucrative salary and better job prospects.

Candidates with strong technical abilities and expertise in these areas can adapt to changing trends and developments in Industry 4.0. Job opportunities in the engineering field are expected to increase, especially when it comes to the development and manufacturing sides of engineering technology.

The job market may be more competitive and require candidates to boost their skills more frequently to keep up with the rapid changes in the business landscape. Skills such as AI, automation, and robotics will be in high demand.

Upskilling and reskilling may be more common, as jobseekers and existing employees may have to adapt to a new role of working around new-age technology. Having these skills will be an added advantage to help them stay relevant and ahead of their competitors.

For many employers, they should consider adapting the role of employees to work with new IR 4.0 technology instead of cutting jobs. One way of doing this is to consider how AI, robotics, and smart systems can be integrated with the work that your business requires.

For job applicants, keeping up to date with the latest industry trends and developments will establish you as the ideal employee, particularly for engineering roles that involve designing and supplying new smart systems and technology. Investing in upskilling programmes and developing your expertise in existing roles will help you stand out from the rest of the candidates vying for a promotion or career growth opportunities.

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