Although we commonly think of the Industrial Revolution as a distinct period in history, society has undergone numerous industrial revolutions over the past few centuries. The first and most well-known revolution occurred when steam-powered mechanical production facilitated new manufacturing processes. Roughly a century later, the second revolution emerged with the widespread use of electricity. The third industrial revolution began with the advent of computers, which brought about significant enhancements in productivity and efficiency.
While some argue that the third industrial revolution has not yet concluded, many concur that we are already transitioning and should start preparing for the fourth industrial revolution. This next revolution entails cognitive automation, machine learning, and artificial intelligence.
The implementation of advanced automation technology to perform complex information-based tasks, known as “cognitive automation,” is revolutionising the business world. Although we have been using various forms of automation to augment labour for hundreds, and potentially thousands of years, it has primarily been applicable to simple and repetitive tasks. The current leap to more intricate operations is what will define the fourth industrial revolution.
Preparing for the Fourth Industrial Revolution and tomorrow’s workforce
To ensure that your company stays competitive amidst the integration of cognitive automation by your rivals, here are three straightforward steps that can assist you in successfully implementing this technology and preparing for the fourth industrial revolution:
1. Determine potential use cases
The initial step is to create an automation roadmap that includes practical automation use cases specific to your company. Concentrate on solutions that will provide the most value behind the scenes, rather than opting for flashy outward-facing options. While automating your payroll or billing and payment processing may not be the most thrilling choices, they will yield significant returns and enable you to expand into greater downstream integrations as you gradually automate other aspects of your business.
2. Establish a foundation
Choosing potential automation opportunities is only the beginning; it’s crucial to obtain buy-in from both leadership and frontline employees, whose daily workflows may be affected by the changes. Workforce assessments may be conducted to gauge overall sentiment toward automation, and practical training sessions should be scheduled as part of the implementation process. This not only simplifies adoption and increases success rates but also provides a tangible way to demonstrate the new technology’s value to relevant staff.
3. Centralise databases
Cognitive automation, AI, and machine learning all rely on the same fundamental resource – data. Although our capacity to mine and utilise data is growing, preparing your data by centralising and organising it is critical to prepare your business for the most recent intelligent technology.
Physically consolidating all datasets may not be feasible for some organisations, but other alternatives exist. For instance, federated search solutions can simultaneously tap into disparate data sources, enabling you to maintain multiple data sources while still accessing them all via a single unified entry point for you and your automated systems.
As automation continues to advance and provide significant operational advantages, companies that neglect to update their systems will quickly find themselves at a significant disadvantage. However, with some planning, you can ensure that your business is preparing for the fourth industrial revolution and keep track of its progress.
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