Keeping Pace with the Technology

Industries must adopt cutting-edge technologies with the fourth industrial revolution

“Our first response must be to develop new models for cooperation that are not based on narrow interests but on the destiny of humanity as a whole.” ―Professor Klaus Schwab, Executive Chairman of the World Economic Forum

Globally there are several challenges to address such as poverty, health, education, energy, equality, economic growth, industrialization, urbanization, climate change, technology, and terrorism to name a few. It appears that the Fourth Industrial Revolution (FIR) is a major challenge offering opportunities and throwing threats. If managed well, it serves as a boon to humankind. We will explore it with Artificial Intelligence (AI) and automation since all are interconnected.

Fourth Industrial Revolution

The First Industrial Revolution took place from the 18th to 19th centuries; The Second Industrial Revolution took place between 1870 and 1914; The Third Industrial Revolution took place during the 1980s is still going on include the personal computer, the internet, and information and communications technology (ICT); and The Fourth Industrial Revolution is marked by emerging technology breakthroughs in several fields including robotics, artificial intelligence, nanotechnology, quantum computing, biotechnology, The Internet of Things, 3D printing and autonomous vehicles.  In a nutshell, the first industrial revolution started with steam power, the second industrial revolution with electric power, the third industrial revolution with digital power, and the fourth industrial revolution with robotic power. The fourth industrial revolution is exponential, unlike the previous industrial revolutions which were linear. According to Professor Klaus Schwab, Founder and Executive Chairman of the World Economic Forum[1] and author of The Fourth Industrial Revolution, the new age is differentiated by the speed of technological breakthroughs, the pervasiveness of scope, and the tremendous impact of new systems.

Humans versus Robots

Previously it was humans versus humans in grabbing opportunities but presently it is humans versus robots in robbing employment. It appears that the robots created by the humans started challenging the latter by robbing the jobs. If there is synergy between humans and robots, human peace and prosperity can be achieved. Here are some strengths of humans and robots to leverage effectively to achieve productivity and prosperity: Humans can sense unexpected stimuli while robots can perform routine and repetitive tasks effectively; humans can develop creative solutions for problems while robots can store huge data; humans are adaptable and flexible while robots are multitaskers; humans observe, analyze and interpret the data while robots execute the instructions effectively. Humans use the head, heart, and gut while robots make routine decisions quickly; humans learn from experience while robots cannot. Humans play politics while robots cannot. Above all, humans are blessed with the power of imagination and creativity while robots are instructed to execute ideas effectively.

Treat AI as Your Ally, Not Your Enemy

With increased emphasis on technology, there are apprehensions globally that Artificial Intelligence (AI) and automation will adversely affect humans in employment in the long run. Automation helps execute repetitive tasks and AI helps in decision making and resolving organizational issues. At the same time, it is impossible to automate leadership because leadership is all about people crafting the vision, building teams, and motivating people to accomplish organizational goals and objectives. Leaders utilize automation to accomplish their goals. However, the process of leadership cannot be automated totally.

Human leaders are creative while robot leaders are copycats. The human mind is very powerful because it introduced AI. Human mind is the mother of AI and automation. Hence, there is no room for the latter overtaking the former. The only solace is that robot leaders don’t play politics while human leaders play politics and are biased. Robot leaders are clear and fair while human leaders are complex and may not be fair.

Can Soft Skills Be Automated?

Hard skills can be automated, not soft skills because soft skills are interpersonal skills and closely connected with emotional intelligence which are hard to teach, train and impart to humans. Hence, we can imagine how difficult it is for us to impart soft skills to robots.

When people can get along with others, collaborate with others and accept bigger challenges in the workplace, it indicates that they are smart in soft skills. Additionally, fast career growth is an indication of enhanced softs skills in the professionals. In this way, soft skills can be measured.

Education and training will change rapidly due to automation and AI. There is a strong need to change the curriculum and teaching and training methodologies to keep them relevant and useful to future generations.

It is a well-admitted fact that automation will replace expertise in a few areas, not experience. Overall, leadership cannot be automated. Humans are gifted with the power of imagination and creativity and are leaders while the robots are trained to be copycats and are followers. It is almost impossible to imagine that robots will overtake humans in the future.

When computers were introduced people opposed them due to the fear of losing their employment. Ultimately people embraced and adjusted because computers created new employment opportunities and ensured human growth and prosperity. Now computers have become our allies. Similarly, AI will become our ally in the future.  Albert Einstein once remarked, “Computers are incredibly fast, accurate and stupid; humans are incredibly slow, inaccurate and brilliant; together they are powerful beyond imagination.” Hence, embrace, adjust and collaborate with AI to build a better world.

Technology, Humanity, and Prosperity

There are apprehensions globally that the current scenario will lead to robots challenging humans. Humans create technology to achieve peace and prosperity. What happens when technology becomes counterproductive for humanity?

With the advent of the FIR, most companies from the Fortune 500 list will vanish. Hence, global organizations must take a serious view of FIR and devise their strategies accordingly to ensure their survival.

To summarize, it is a well-admitted fact that each wave of technology challenges our understanding of the world. So is the case of the Fourth Industrial Revolution (FIR). It must fill the gaps rather than replace the people. FIR can only thrive on the pillars of technology, humanity, and prosperity. Klaus Schwab called for companies to “shape a future that works for all by putting people first, empowering them, and constantly reminding ourselves that all of these new technologies are first and foremost tools made by people for people.” Hence, harness human potential with robot power to ensure humanity and achieve peace and prosperity.

Author:

Professor M.S. Rao, Ph.D.  International Leadership Guru

Professor M.S. Rao, Ph.D. is the Father of “Soft Leadership” and the Founder of MSR Leadership Consultants, India. He is an International Leadership Guru with forty years of experience and the author of fifty books including the award-winning ‘See the Light in You’ URL: https://www.amazon.com/See-Light-You-Spiritual-Mindfulness/dp/1949003132. He is a C-Suite advisor and global keynote speaker. He brings a strategic eye and long-range vision given his multifaceted professional experience including military, teaching, training, research, consultancy, and philosophy. He is passionate about serving and making a difference in the lives of others. He is a regular contributor to Entrepreneur Magazine. He trains a new generation of leaders through leadership education and publications. His vision is to build one million students as global leaders by 2030 URL: http://professormsraovision2030.blogspot.com/2014/12/professor-m-s-raos-vision-2030-one_31.html.  He has the vision to share his knowledge freely with one billion people globally. He advocates gender equality globally (#HeForShe). He was ranked #1 Thought Leader and Influencer in Business Strategy globally by Thinkers360. https://www.thinkers360.com/top-50-global-thought-leaders-and-influencers-on-business-strategy-december-2020/. He invests his time in authoring books and blogging on executive education, learning, and leadership. Most of his work is available free of charge on his four blogs including http://professormsraovision2030.blogspot.com. He is a prolific author and a dynamic, energetic, and inspirational leadership speaker. He can be reached at msrlctrg@gmail.com.

[1] https://www.weforum.org/about/the-fourth-industrial-revolution-by-klaus-schwab

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