Challenges of the Fourth Industrial Revolution: A Case Study of Bosnia and Herzegovina (original) (raw)
Related papers
FOURTH INDUSTRIAL REVOLUTION IN DEVELOPING COUNTRIES: A CASE ON BANGLADESH
This study particularly focuses on Industry 4.0 in developing countries and, in particular, that of Bangladesh, which has been recognised as one of the fastest growing economies in South Asia. Prior to collecting the required data, a review was carried out on Industry 4.0 and the current prospect of it in the developing countries. The field study consisted of ten semi-structured interviews comprising of ten main questions concerning Industry 4.0 with ten scholars from both the Bangladeshi universities and various worldwide corporate sectors. The interviews lasted approximately thirty minutes and were conducted in English. After a successful analysis of all the interview transcripts, the study finds five main challenges along with some opportunities to apply Industry 4.0 in Bangladesh. The challenges include poor infrastructure, availability of cheaper labour, and expensive installation of technologies, lack of government supports and lack of knowledge. With this being the first research project regarding Industry 4.0 in Bangladesh, the findings of the study generate some recommendations that could be effective for the decision makers both in government and the private sector.
IMPLEMENTATION OF INDUSTRY 4.0 IN SECOND WORLD NATIONS: A COMPARATIVE STUDY ON GERMANY AND ROMANIA
IJNRD, 2023
Industrial Revolution 4.0, initiated by Germany, as an idiosyncratic concept has not been tough to rumble pan globe. However, its adoption and application, is facing setbacks , especially in upper income developing nations, with an immense potential for development of a strong manufacturing base. This study has been conducted, to analyze the differences in the distant and gap-riddled development of Industrial Revolution 4.0, in Germany's counterpart, i.e., Romania. In this study, Germany as a developed nation, has been compared, to the developing nation of Romania, both of them being main exporters of automotive parts, and members of EU. They are labeled as second world nations, on the basis of Second World War's definition, which indicates the presence of deadly wars aspect in shaping the countries of study. Germany sailed through the difficulties posed by its adoption, but, Romania has a crippled growth due to existence of twin-deficits. Multivariate Regression Model, has indicated, that mirroring of Mittelstand Model of Germany, in Romania, will improve its functional optimality. Thus, balancing Macroeconomic Variables, promoting sustainable, and cost-cutting measures of producing valuable products, establishing efficient supply chain management, and incubating innovative business ideas.
Industrial Revolution 4.0 in the BRICS countries: What are the challenges for industrial policy?
2020
Long-term scenarios predict that the BRICS countries can overtake the G7 countries in their contribution to the world economy, but, as follows from the analysis of multicomponent international indices, the same countries lag significantly behind the G7 countries in terms of preparedness for a technological future. In this regard, the growth prospects of the BRICS economies are largely determined by possible strategies of the countries to disseminate and use the Fourth Industrial Revolution (Industry 4.0) technologies. Analysis of TiVA OECD data revealed that BRICS was not very profitably integrated into global value chains — far from the final consumer abroad and relatively close to suppliers of raw materials and semi-finished products — which in the long term determines the limitations on increasing economic complexity. Analysis of the WITS World Bank data revealed that BRICS was relatively poorly involved in the processes of international exchange of products related to the techno...
Industry 4.0 as the Last Industrial Revolution and Its Opportunities for Developing Countries
Advances in Business Information Systems and Analytics
In this chapter, better understanding of Industry 4.0 is presented by investigating the role of different technologies and business partners on success of Industry 4.0. Enablers for smart factory are discussed in detail, and how to match these enablers with value chain partners of Industry 4.0 are identified as a new perspective on Industry 4.0. Furthermore, the aim of this chapter is to present actions to be taken from the point of the emerging economies to sustain and increase competitive advantage by catching and implementing Industry 4.0. Consequently, Industry 4.0 can enable developing countries to get a bigger slice of the world manufacturing value chain.
The Fourth Industrial Revolution—or Industry 4.0—is expected to radically transform manufacturing as a driver of global development. Because industrialization remains a cornerstone of the long-term development aspirations of numerous developing countries, this paper addresses the following overarching questions: Are developing countries getting ready for Industry 4.0? How are they preparing? Can any lessons be gleaned from existing policy efforts around Industry 4.0? While acknowledging the buzz around Industry 4.0, the paper invites moderation in the analysis of the trends associated with it. Building on evidence from middle-income countries, this paper shows that policy responses have generally remained at the trial stage and are insufficiently articulated with long-term national development strategies. There is significant room for further research and policy experimentation, and role models have yet to emerge. The paper is intended as a reference for policymakers grappling with questions of which strategies to pursue on the path towards I4.0.
Industrial Revolution 4.0 in Some Countries Experiences and Lessons for Vietnam
Journal of Mechanics Engineering and Automation
The world has experienced 3 Industrial Revolutions. Right now, we are at the beginning of the 4th Industrial Revolution. 4.0 Revolution is based on the digital revolution, characterized by the increasingly popular internet and mobile, by smaller and more powerful semiconductors at cheaper price and by Artificial Intelligence. Digital technologies with computer hardware, software and networks are becoming more and more complex, more integrated, thus transforming society. Faced with the unprecedented impact of the 4.0 Revolution, depending on the size of the economy and the level of technology, countries around the world have policies to adapt, catch up and take advantage of the achievements of the revolution. This revolution serves the sustainable development of our country. This article summarizes the policies of some countries such as Germany,
Industry 4.0 and Developing Countries: Innovation Perspective of Ethiopia, India and Bangladesh
International Journal for Modern Trends in Science and Technology , 2020
Ethiopia, India and Bangladesh are raising economic power, but have not yet integrated very much with the global economy and still have not achieved their potential in context of technology, globalization, and international competitiveness like developed countries. These countries have much strength, but at the same time , are facing many challenges in the increasingly competitive and fast changing global economy. The main key strengths of these courtiers are their large domestic market, young and growing population, a strong private sector with experience in market institutions, and a well developed legal and financial system. In today's environment of global competition, technological development and innovation; companies, especially manufacturing, are forced to reconfigure their manufacturing and management processes. Industry 4.0 and intelligent manufacturing are part of a transformation, in which manufacturing and information technologies have been integrated to create innovative systems of manufacturing, management and ways of doing business. This system allows optimizing manufacturing, to achieve greater flexibility, efficient production processes and generate a value added proposal for their customers, as well as to provide a timely response to their market needs. The objective of this work is to explore the Industry 4.0, smart manufacturing, environment requirement and relation of innovation in perspective of developing countries.
Ekonomické rozhľady – Economic Review
Since Industry 4.0 has emerged, it has provoked discussions among managers, politicians, educators, workers, and the wide public. Involvement of new technologies into production process, but also rapid development of information and communication technologies, is associated with this concept. These tendencies are a source of concern for workers in the labor market, as Industry 4.0 initiative is seen as a revolutionary change in the production process instead of an evolutionary economic development, especially with positive impact on labor productivity. This concept of Industry 4.0 is used for the analysis of selected economic indicators in the conditions of Slovak and Czech economy from 1995 to 2018, for the analysis of development in all sectors together, but also in individual sectors separately. The results confirm the assumption of a rather evolutionary approach to the economic development, which, after the period of economic transformation, indicates continual investments in te...
Industrial Revolution 4.0: Risks, Sustainability, and Implications for OIC States
2020
This paper reviews the potential risks of the fourth industrial revolution and how sustainable development goals align with those risks and any benefits. This paper adopts a qualitative research method using content analysis of video and textual materials. This research finds that the increased complexity of IR4.0 carries greater risks but offers greater benefits to humanity. Sustainability is going to be positively affected by the greater use of smart interconnected technologies. However, the fabric of human society will undergo a tremendous change that will often lead to unwanted consequences. Many risks can be anticipated and addressed by designing systems, including financial and economic, that are inherently robust and adaptable. States must acknowledge the risks associated with new technologies and complex systems, such as artificial intelligence, and devise strategies to help deal with and anticipate those risks. This paper identifies the risks and benefits of the Fourth Indu...
“Industry 4.0” in Europe and East Asia
DAAAM Proceedings, 2018
In the year 2010, Germany initiated the "Industry 4.0" project, in order to promote its economic development and global competitiveness. In this paper, the initiatives, the status quo, and the perspectives of "Industry 4.0" in Europe and East Asia are briefly reviewed. First, it is stressed that Croatia needs a new strategy, called "Digitisation Impulse 2020industry for the future". Second, China issued the "Made in China 2025" strategic plan, in order to transform the country from a manufacturing giant to a world manufacturing power. Third, the Japanese government introduced a new concept called "Society 5.0 (Super-smart society)". Some related issues are also introduced with respect to the development of "Industry 4.0".