The leaders of global companies are optimistic about the fourth industrial revolution, but are sceptical about companies’ ability to influence it, the Deloitte report shows. The study focused on four issues: social impact, strategy, talents/workforce and technology.
In terms of social impact, 87% of respondents believe Industry 4.0 will lead to more equality and stability, and three-quarters say business will have much more influence than governments and other entities in shaping this future.
In terms of strategy, only a third of respondents are highly confident they will be able to run their companies under the current political and economic conditions. Only 14% of respondents are highly confident their organizations are ready to fully harness the changes associated with Industry 4.0.
In terms of workforce, only a quarter of executives surveyed are highly confident they have the right workforce composition and skill sets needed for the future.
Executives understand the need for investments in technology in order to generate new business models. Nevertheless, few respondents say they are able to build a solid business meant to back investments in technologies that define the fourth industrial revolution.
Under the broad title Industry 4.0, many physical and digital technologies are combining through analytics, artificial intelligence, cognitive technologies, and the Internet of Things (IoT) to create digital enterprises that are both interconnected and capable of more informed decision-making. Digital enterprises can communicate, analyze, and use data to drive intelligent action in the physical world. In short, this revolution is embedding smart, connected technology not only within organizations, but also our daily lives.
The Deloitte study „The Fourth Industrial Revolution is here – are you ready?” surveyed 1,600 executives across 19 countries to see how ready they are to harness the full potential of Industry 4.0 to benefit their clients, their people, their organization, their communities and society more broadly.