The Emerging Economies under the Dome of the Fourth Industrial Revolution

Description

The Fourth Industrial Revolution (4IR) is reshaping the globe at a rate far quicker than earlier revolutions. It is also having a greater influence on society and industry. We are currently witnessing extraordinary technology such as self-driving cars and 3D printing, as well as robots that can follow exact instructions. And hitherto unconnected sectors are combining to achieve unfathomable effects. It is critical to comprehend this new era of technology since it will significantly alter life during the next several years in this age of technological advancement. In particular, one of the most significant findings is that 4IR technologies must be used responsibly and to benefit people, companies and countries as a whole; as a result, the development of artificial intelligence, the Internet of Things, blockchain, and robotics systems will be advanced most effectively by grouping a multidisciplinary team from areas such as computer science, education and social sciences. Cover Title page Copyright page The Emerging Economies under the Dome of the Fourth Industrial Revolution Contents 1 Summary 2 Literature Review 3 Introduction 4 Evolution of Industrial Revolutions and Fusion of Technologies in the 4IR 4.1 Evolution of Industrial Revolutions 4.2 Fusion of Technologies in the 4IR 5 Window of Opportunity for Emerging Economies in the 4IR 5.1 Emerging Market Economies of the World 5.2 Leapfrogging Using Advanced Technologies 5.3 Absorption of 4IR Technologies by Emerging Economies 6 Impact of the 4IR on Emerging Economies 7 Emerging Economies and Global Value Chains 7.1 Connotation of Global Value Chains 7.2 Methods of Adoption of GVCs by Emerging and Developing Countries 7.3 The Role of Emerging Economies in GVCs i. Promoting growth and upgrading in export-oriented GVCs ii. Leveraging local knowledge to add value in resource-based GVCs iii. The role of public–private partnerships to narrow the human capital gap 8 How Is India Adopting the 4IR to Build Economic Value? 8.1 Initiatives Taken by Government to Adopt Industry 4.0 8.2 The Role of the Confederation of Indian Industry in Smart Manufacturing 8.3 Enablers to Actualise India’s Sustainable Transformation to the 4IR 9 How Is China Adopting the 4IR to Build Economic Value? 10 Emerging Countries to Turn Youth and Women into Assets for the 4IR i. Reframe the 4IR as a once-in-a-lifetime opportunity to be welcomed rather than a problem to be solved. ii. Investment and strategic planning. iii. Lift underprivileged youth. iv. Opportunities for women. 11 Risks and Challenges of Adoption of the 4IR for Emerging Economies 12 Mitigation of Risks 13 Can the 4IR Be a Sustainable Revolution? 13.1 Minimising Risks while Embracing the 4IR 13.2 Use of Artificial Intelligence for Sustainable Development 14 Education and the 4IR 15 Use of Technology during the COVID-19 Pandemic 15.1 Drone Technology during the COVID-19 Pandemic 16 Conclusion Bibliography About the Authors