Nguyen Hoa Cuong – Deputy director Central Institute for Economic Management And within the past several years, policymakers and think tanks around the globe have drowned the media with references to the Fourth Industrial Revolution, or Industry 4.0. Names such as Elon Musk with trendy high-tech products like self-driving Tesla vehicles, or his ambitious plan for colonising Mars have ignited and visualised human dreams, once again, beyond the horizon of sci-fi movies. The term Industry 4.0 first appeared at a Hannover exhibition in 2011 and later in a report by the German government in 2013. This has marked the birth of a series of new technologies, combining all the latest intellectuals in physics, digitalisation, biology and more, and brought about fundamental changes in all sectors and the economy as a whole. Currently, Google returns around 322 million entries for the phrase “Industrial Revolution 4.0”, which is still fewer than the 765 million entries for “artificial intelligence”, 5.27 billion entries for “Internet of Things” (IoT), and the massive 5.46 billion entries for “COVID-19”. Industry 4.0 introduced and realised cutting edge technologies such as 3D printing, AI, augmented reality, the cloud, IoT, big data, and blockchain, among other popular forms such as… Read full this story
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