Development in the fourth industrial revolution
The fourth Industrial revolution is an umbrella term for new digital technologies that are transforming production, industry and social organisation. Key amongst these are: big data analytics, robotics and process automation (RPA), artificial intelligence (AI), advanced (3D) printing and blockchains. They are instrumental for ushering in changes in most global sectors – ranging from ICTs, to medicine, to agriculture in recent times, causing much stir in policy circles on how to leverage these technologies for industrialization across the world. In reality, therefore, the gains from application of fourth IR technologies to economies will eventually depend on (a) how these technologies interface with existing industrial strengths in countries and region, (b) how they can be leveraged to strengthen local production/ local industrial capacity.
The main goals of this project are to generate evidence-based findings for policy advice to policy makers on how the fourth IR technologies can be used to promote structural change and industrialization in developing countries.
The analysis of the project will be a first of its kind, focusing on the three most important technologies - big data, RPA and AI – can be applied equally to all industrial sectors, namely manufacturing, services and agriculture.