The World Economic Forum (WEF) has unveiled the Centre for the Fourth Industrial Revolution (Industry 4.0) in India. This innovative centre, founded in Maharashtra, is designed to serve as a gathering place for government and business leaders to drive and shape emerging technology policies together. Drones, artificial intelligence (AI), and blockchain have been identified as the initial trio of project areas.
Weaving a Global Network with Local Connection
As part of the WEF’s international network, this new hub will maintain close working relationships with their counterparts in San Francisco (USA), Tokyo (Japan), and Beijing (China). These International centres share a common goal of piloting global advancements in technology and policy. In India, the organization NITI Aayog is responsible for coordinating partnerships with the government and various ministries.
Boosting National Level Technology Emphasis
The national level approach for the Centre initially emphasizes two burgeoning technology areas. Firstly, AI and machine learning are being utilized to improve access to data, which stimulates the adoption of AI in socioeconomic spheres like education, healthcare, and agriculture. Secondly, blockchain and distributed ledger technology are being explored. Specifically, applying smart contracts can catalyse productivity and transparency while diminishing inefficiency.
State Level Focus: Maharashtra Steps Forward
On the state level, the Government of Maharashtra, in collaboration with the Centre, has set its sight on a drone mapping operation for the agriculture sector. This aligns with the Centre’s inaugural project areas, highlighting the use of drones.
Emerging Technologies: Enhancing Indian Lives
The ascent of fields such as AI, Machine Learning, Internet of Things, Blockchain, and Big Data holds the potential to enrich the lives of Indian residents. The government’s recent move to waive licensing requirements for low-frequency wireless devices such as Bluetooth, IoT products, wireless chargers, and medical devices, signals its commitment to foster an environment conducive to innovation.
India’s Digital Transformation
The successful Digital India movement has extended data connectivity to the remote corners of India. The impressive boost in tele-density, internet coverage, and mobile internet subscriptions is a testament to this success. Similarly, the number of Common Service Centres (CSCs) functioning as access points for crucial public services like healthcare, financial services, education, agriculture, and a host of B2C services, has witnessed a considerable surge.
The Overarching Power of Artificial Intelligence
Artificial Intelligence continues to permeate various sectors. It is poised to revolutionize healthcare, reduce expenditure, aid farmers and the agriculture sector, and transform transportation and smart mobility. To encourage this transformation, a strategic approach to bolster AI research infrastructure has been outlined.
Understanding the Fourth Industrial Revolution
The First Industrial Revolution mechanized production with water and steam power. The Second utilized electric power for mass production, while the Third automated production using electronics and information technology. Now, the Fourth Industrial Revolution, characterized by a fusion of technologies, erases the lines between physical, digital, and biological spheres. This revolution holds immense transformative potential, though it carries concerns about inequality, particularly in labor markets.
Embracing the Transition: A Forward-looking Approach
Despite concerns about job displacement by technology, India’s leaders assure that the Fourth Industrial Revolution will create more opportunities, albeit changing the nature of jobs. Government schemes such as the Skill India Mission, Start-Up India, and Atal Innovation Mission are preparing the nation for these new, emerging technologies. With its diverse demographic, rapidly expanding market size, and robust digital infrastructure, India is well-positioned to become a global hub for research and implementation of Industry 4.0.
