Industrial Revolution 4.0 and Businesses in Malaysia
Posted: Sep 18, 2019
As of today, we witnessed many traditional businesses keep dwindled and even disappear, however, new bussiness model and opportunities is every where and has no sign of slowing down. Yes. what we are mentioned here is digital evolution or Industry 4.0. Malaysia is among the countries trying to venture into the Industrial Revolution 4.0. With the strong support from government, the big corporation and small business owner is encourage to venture forge into more digitalize business model and better equiped and utilize the technology advancement.
The Malaysia Digital Economy Corporation Sdn Bhd (MDEC) is a government-owned institution responsible for the management of the Multimedia Super Corridor (MSC Malaysia) in Malaysia as a technology industry and commerce zone. Today we are discussing what are those things facing by businesses in Malaysia during transition to the new industrial era.
In Industrial Revolution 3.0 people automate the processes with technologies and machines, and here it brings the mass production and automation. Industrial Revolution 3.0 successfully replaced the human labor with automated machines, however, there is still depending much on human control and data/command input behind it. Today, people are in the midst of shaping the industrial revolution 4.0 where the technologies able to process enormous quantities of data and make the most accurate calculations and decisions to process complicated tasks in a split second.
In Industrial 4.0 era, data, information, automation, production and even marketing will all come together in a brand new exciting ways as well as become more integrated and decentralized. The revolution in manufacturing, healthcare, military, automotive, property, finance, marketing and other industries will have some major leap in the Industrial Revolution 4.0.
For efficient data analysis, digital technologies play an inevitable role in business and Artificial Intelligence and its dominant form, Machine Learning has become the most sought-after technology now to help innovate and transform businesses.
Increasingly, organizations are realizing the importance of analytics in their businesses and digging deeper into data to increase its effectiveness to gain competitive advantage. To achieve greater business objectives, organizations are trying to implement machine learning and artificial intelligence along with analytics in their daily tasks with little or zero human intervention.
Today, businesses are able to collect data about their targeted audiences within seconds. To move ahead of the competition and to get an edge over others in the industry, organizations are engaging in machine-learning based predictive analytics to discover and utilize hidden information in large volumes of unstructured data.
Many startup businesses start to realize they have been missing out on digital marketing after several years, as they never really reaping any benefits of digital marketing. A businesses or corporation can receive tremendous traffics and maximum exposure as well as effectively introduce their services / products to the targeted audiences.
Big data and accurate analysis will improve how today's SEO services, Google Ads and Social Media Ads works. No matter you are just simply blogging or doing serious business, it is how today's online world find you. Many businesses and company do not have the specialist or resources in digital marketing, as a result, outsource to a third party marketing agency or SEO company is the choice.
Fear may play a part forging ahead to the Industrial revolution 4.0, people worried or scared what they do not know. However, the rapid changes in the industry is inevitable. For example, the e-hailing app Grab disrupted the services of conventional taxis traditional retailing business is hit hard by online shopping mall such as Amazon or Alibaba and streaming service Netflix bankrupted video rental service Blockbuster. If businesses were reluctant to change on their own, they would find themselves in a very difficult moment sooner or later.
The new industrial revolution will change the traditional and conventional business model and those who refuse to keep up will be eliminated by the storm of new technology. However, Look at the bright side, it is proven that new revolutions will surely create tons of opportunities ahead, as long as we get ready and well prepared the future is even brighter.
AJ is a passionate writer who aimed to provide valuable information through writing. AJ is interested in search engine optimization, he show his true skills while cooperate with local SEO company in Malaysia