Manufacturing will be central to the Fourth Industrial Revolution, as well as the economic transformation of many countries. However, those who stand to gain the most from Industry 4.0 will be those in less developed countries – if we make sure we get ahead now.
Here’s the three countries that stand to benefit the most from the Fourth Industrial Revolution.
India is a country on the brink of ‘developing’ and ‘developed’. It is one of the primary hubs for manufacturing, and its awareness of the impotance of manufacturing to its economy is part of why it’s set to be a leader in Industry 4.0.
However, inefficient ability to innovate has stymied India’s growth. People do the work that automation will, one day, do. When that day comes, millions of workers will be displaced.
India is the second fastest digital adopter out of 17 major digital economies. Digital transformation and applications hold significant economic potential for India; however, they will require new skills and labour redeployment.
It must continue to innovate and push ahead, while also ensuring that its current manufacturing skills do not become lost, and reskilling its workers into technological, future-proof occupations.
Bangladesh is poised to change the 4IR. It’s one of the fastest growing economies in the world, expanding at over seven percent annually.
Bangladesh is transitioning from a developing country to a developed country. Technology is a major part of what fuels Bangladesh’s economic growth. By 2033, Bangladesh is set to be the 24th largest economy in the world.
These might not be countries that we initially consider to be digital, and yet slowly, but surely, they are taking over the technological sphere.
Democratic Republic of Congo
The DRC has been traditionally known for its conflict and war, instead of a place of technological innovation. And yet the DRC stands the benefit the most from the Fourth Industrial Revolution. We just have to make sure that Industry 4.0 reaches it.
The DRC has a population of 81 million people and yet it is one of the poorest nations in the world.
By accessing economic and job growth, the DRC’s economy will drastically change. However, it cannot change alone, and will require some support from other countries to grow the economy. This, in turn, will benefit the global sphere, through more ethical sourcing and innovative minds.
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