VietNamNet Bridge - The fundamental change of the knowledge-based economy is leading to the risk that the rich countries can get richer by taking away resources from the poor countries without having to directly invade these nations. The poor countries can retain their oil wells and their coal mines, but the oil wells and coal mines are hollow. Recently, some people have talked about the so-called the "4th industrial revolution" and they said that this revolution will create tremendous benefits from new products and services with negligible costs to serve customers, to make human life easier and more productive. The "Revolution" is expected to be a big trend that will have an impact on economic and social development on a global scale, in every nation, in every region, including Vietnam. It is very disturbing, even dangerous, if we do not have a clear understanding and vision about the nature of the so-called "revolution" because if you accept it … [Read more...] about “4th Industrial Revolution”: Expensive costs for poor countries that reject changes
Machines in the industrial revolution
Most of them cannot afford to prepare themselves for the wave of automation, or even worry about it. Quyen wakes up every day with the same routine: working until 6 p.m., rushing to her room to cook a quick meal with some vegetables and 150 grams of meat for both dinner and breakfast the next morning, and heading back to the factory to work overtime. Despite holding a teaching degree, the young woman from the northern province of Yen Bai chose factory life at the Bac Thang Long Industrial Zone in Hanoi as she could not afford the VND300 million ($13,200) needed to bribe herself into a school job back home. She still owes more than VND30 million of a social loan borrowed to pay for her college tuition. She hopes the factory job will help clear that debt. Vietnam's average annual income was around $2,200 last year. Many of Quyen’s co-workers are also college or university graduates, trained to use their academic knowledge to help the economy. But the only doors they found … [Read more...] about Will Vietnamese workers have a place in the Fourth Industrial Revolution?
Large enterprises taking initial steps According to Executive Chairman of the World Economic Forum Klaus Schwab, the fourth industrial revolution is a digital revolution characterised by a fusion of technologies that blur the line between the physical, digital, and biological spheres. He says there are several reasons why these transformations are not merely a prolongation of the third industrial revolution but rather the arrival of a fourth and distinctly new one: velocity, scope, and systems impact. The speed of current breakthroughs has no historical precedent. When compared with previous industrial revolutions, the fourth is evolving at an exponential rather than a linear pace. Moreover, it will affect almost every industry in every country. Furthermore, the breadth and depth of these changes herald the transformation of entire systems of production, management and governance. As such, many experts have warned that besides its wide-ranging positive impacts, the fourth industrial … [Read more...] about Assisting enterprises to seize benefits of fourth industrial revolution
The Global Industry 4.0 Survey, the largest research of its kind and conducted last year by PricewaterhouseCoopers (PwC) on over 2,000 companies in nine major industrial sectors from 26 leading countries, revealed that companies expect Industry 4.0 to reduce operational costs by 3.6 per cent per year while increasing efficiency by 4.1 per cent annually. The country’s major corporations have been looking at applying advanced technologies and replacing their human workforce with machinery and robots in certain industries, to raise productivity, reduce production time, and optimize labor costs. Mr. Isara Burintramart, Managing Director of Reed Tradex, ASEAN’s leading exhibition organizer, underlined the increasing dynamism of Vietnam’s industry. “Vietnam’s manufacturing has been moving away from the traditional portfolio into higher value-added products,” he said. “We have seen growth and changes in industries we serve throughout the past … [Read more...] about Vietnam urged to prepare for the 4th industrial revolution
A not-so-distant vision Instead of using scientific jargon barely comprehensible to ordinary people, Le Chi Dung, director of CMC Corp’s Innovation Centre provides an easy-to-understand example of the 4th industrial revolution: A sensor installed inside a vending machine can tell immediately when a type of goods is out of stock, the amount of additional goods needed and the current status of the machine. A deliveryman from the company operating that machine will have accurate data to deliver the required goods and fix broken machines quickly. Meanwhile the company’s managers can monitor and analyse data in real time and made strategic decisions to enhance productivity based on data collected from sensors and other devices. It is an application of the 4th industrial revolution which is not something unfamiliar with Vietnamese enterprises. There are certainly other trends such as the combination of robots and artificial intelligence, 3D printing but the most important thing … [Read more...] about Vietnamese enterprises in the face of 4th industrial revolution