The Seventh Issue – The Next Industrial Revolution
The theme of the Seventh Issue The Next Industrial Revolution
We are at the outset of the next industrial revolution. Unlike the past four revolutions that have significantly transformed daily life as we know it, this one has the possibility to be the first where humans will be taken into account as much as profit. But for the inevitable future to arrive, workers, companies, and government must work together to address some potentially thorny issues relating to the definition of a new economic and social contract for the 21st century.
Welcome to our seventh issue of the AIB Review. This addition of the review includes the following articles:
Each quarter, we ask ourselves: What’s happening that is of immediate importance and relevance to all of us, not just from a business sense, but that is impacting society. The AIB Review seeks to address this question from a number of angles.
People Take Back the Power in the Next Industrial Revolution
Giulia Savio: Group Manger Diversity & Organisational Effectiveness, St Barbara
The next industrial revolution will not solely be focused on technology but on people. This article explores how COVID has accelerated and transformed the once de-humanised 4IR of digital technology, back to a human-centric approach, that morphs the two and gives the power back to the people.
Does Proptech have a Role in the Next Industrial Revolution?
John Gellel: Doctoral candidate, Australian Institute of Business; General Manager, Kastle Systems Australia; President, Australian Security Industry Association Limited (ASIAL)
Dr Donald Winchester, Senior Lecturer, Australian Institute of Business
Dr Shrimal Perera, Senior Lecturer, Australian Institute of Business
This article discusses the increasing importance of what has become known as Proptech. Property technology (Proptech) encompasses software and hardware innovations in the residential and commercial property markets, aimed at producing meaningful data to optimise a building’s efficiency and/or tenant experience.
Leveraging Big Data Towards Customer Engagement – Case of Genome Sequencing
Krishnan R Hariharan, Lecturer, Australian Institute of Business
Big data (BD) has an important role to play in the fourth industrial revolution. BD is the ability to collect, analyse, use and interpret data across functional divisions in order to gain actionable insights while creating value for business and also providing a source of competitive advantage. All of this can be used to increase customer engagement. This article also uses developmemts in genome sequencing as an exemplary case study of the radically new opportunities IR 4.0 is bringing.
Transitioning from Education to Work During the 4th Industrial Revolution
Dr. Touhid Bhuiyan, Lecturer in Cyber Security, Australian Institute of Business
Nowadays, a genome sequence can be acquired by using computing power in a few hours at the cost of less than one thousand dollars, while the first human genome project took 10 years at a cost of 2.5 billion dollars to map the human genome sequence. This article discusses the increasing interaction between computing and genetic engineering as one example of the 4th Industrial Revolution. The need for radical revision of educational programs – from primary school to uiversity – is now imperative if there is going to be a workforce upskilled and reskilled enough to carry out the skilled work required.
Firm Demand for Soft Skills: A Renaissance of Human Factors – A Personal Reflection
Francesca D’Urso, MBA (Log&SCMgt), Implementation Specialist & Management Consultant at Brooks International
With colleagues located worldwide, teamwork and the development of the 4C’s is bringing the human aspect back to the forefront of the upcoming industrial revolution. Further developing communication, collaboration, creativity, and critical thinking will not only drive profit but these soft skills in steep demand will drive corporate cultures to seek out and develop the leaders fit to work alongside both humans and machines.
Managerial Imperatives in Merging the Physical, Digital and Biological Worlds
Dr Saadia Mahmud, Lecturer in Management, Australian Institute of Business
Dr Sherish Shahid, Lecturer in Leadership, Australian Institute of Business
Dr Mamun Ala, Lecturer in International Business and Strategic Management, Australian Institute of Business
Dr Syed Mohyuddin, Senior Lecturer & Discipline Leader, Human Resources & Management, Australian Institute of Business
Businesses today face an increasingly unpredictable environment with an unprecedented rate of change. Over the past decade awareness has grown of a transformational technological and social change, largely driven by the fourth industrial revolution, a phenomenon coined by Schwab in 2016.
Adapting to the Next Industrial Revolution – Whose job is it to upskill employees?
Dr Dilraj Wadhwa, Dr Kuldeep Kaur & Dr Mamun Ala, Australian Institute of Business
The next Industrial Revolution presents both opportunities and problems as it will transform the way work is done. The coming wave of technological disruptions has created the need for new business models and the need for significant modifications to the existing ones. The competitiveness of future organizations will be driven by their ability to integrate data-driven and integrated work processes and the capacity to address the skill gaps in their workforces.
Leaving It All Behind: Evolution Of The Work Environment and Liminal Spaces in the New Industrial Revolution 4.0
Ivan Ocampo, Doctoral Candidate, Australian Institute of Business
Dr Bora Qesja, Lecturer, Australian Institute of Business
Dr Samaneh Soleimani, Lecturer, Australian Institute of Business
Dr Parth Patel, Senior Lecturer, Australian Institute of Business
Regardless of whether employees perform their jobs from a central office, home office, or flexible work environment, it is widely accepted that transitional spaces between work and personal life are needed, as this affects employee well-being and organisational success. These transitional spaces, otherwise known as liminal spaces, are the focus of this article.
Green Hydrogen for a Green Planet – Opportunities and Challenges
Dr Rupesh Goel and Dr Sumesh Nair, Australian Institute of Business
The fourth Industrial revolution presents unprecedented opportunities for disruptive innovations of technologies in all walks of life. One such sustainability opportunity is in the form of green hydrogen. Hydrogen, especially green hydrogen, is widely considered a significant alternative renewable energy source, hence a critical path to zero-emission targets.
Post Pandemic Industrial Revolution: Towards A Digital Humanism
Dr Chad Dean, Lecturer in Operations and Project Management, Australian Institute of Business
Are we facing a new future towards technological dehumanisation, or can we do better and humanise the trend? Organisations must adapt to meet their customers and employees’ expectations, or risk being left behind. This article discusses the pressing need for a new humanism in the digital age.
Freight Collaboration and AI in the Next Industrial Revolution: An Opportunity
Andy Clark, MBA, PhD Candidate, Australian Institute of Business and
Dr Ethan Nikookar, Australian Institute of Business
The definition of insanity is to do something the same way repeatedly and expect a different outcome. As we move towards the next industrial revolution, it is becoming more apparent that current practices in a vast number of supply chain activities will not be working anymore. This article discusses the changes affecting supply chains and logistics activities.
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