Industry 4.0 will not only change the way we work, but it will also change the process and management of work. This will impact all the dimensions of the labour market. If we are enhancing the industry on one hand, we also need to think about upskilling of labour on the other hand. What kind of employment opportunities will it generate for the labour force? Will it solve the problem of unemployment of the people present in the developing and developed worlds? As purchasing power parity of people is equally important along with the production of goods, to what extents will Industry 4.0 be sustainable? The other factors we need to consider with these issues are cyber security, data protection, climate change, impact on women empowerment, and achieving gender balance in this sector of economy. This is what is explored in this chapter.
TopIntroduction
Everything into this world has its own advantages and disadvantages. Technology on one hand is improving and providing us with wide-range of services but on the other hand it is going to affect the employment opportunities of existing people. The effect on employment will vary from country to country as the world resources are divided into developed and developing world. Industry 4.0 is a boon for industrial development no doubt but for labour market it is going to discard position of certain skill set and further this will result in wider gender gap in workforce than at present. Therefore upskilling of labour force is very important for the development of the economy and country. Upskilling will not only give employment to labour but also make them work ready for the industry 4.0.
Similarly, upgradation of women into skills which accommodate the industry 4.0 becomes more crucial to maintain gender balance in the industry. As gender equality is goal number five in Sustainable development goals. It (Gender equality) is not only a fundamental human right, but a necessary foundation for a pacifying, flourishing and ecologically composed world. For achieving this goal there are many programs and schemes run by the government, Ngo’s, international organizations and regional self-help groups of women. But definite women empowerment and equality can be achieved in real sense when women gender gap in employment is reduced. There has been progress in development of women and girls then again challenges are present which need to be conquered yet.
The result of this progress has led to women taking lead roles as entrepreneurs in many sector of the economy. It is well said by the United Nation Industrial Development Organization (UNIDO) that “there is requirement of creating encouraging environment for women growth. Even though they are already participating in e-commerce, STEM-areas, and digital innovations but there is need to introduce women to technological literacy for reducing the gender gap in industry 4.0”. The pillars of this industry rely on internet of things and artificial intelligence which does needs human intervention for assessing and controlling the automation of the machines. Already there is practically less percentage of women who are engaged as professionals in artificial intelligence area. Sudden change will widen the gender gap. So to reduce this we need to maintain balance between the females’ employment and upgradation of industrial revolution 4.0.
Here figure below shows the stages of industrial revolution.
The industrialization began from first revolution in 1760 which was the age of mechanical production where water / steam mechanization was only engine to manufacture goods and services. This economic activity gave employment to many people. After completion of 110 years new evolution took place in this sector that is age of science and mass production began with the addition of electric engines in the technology. The transition from second phase to third phase took place less than century that is 80 years to transform the industry itself to this phase which is also known as digital age. In this the electronic automation and its information technology is utilised on each step of production. From here onwards after mere 61 years third became fourth industrial revolution which is also known as the age of technology. It is also known as cyber physical system (hardware, software and biology).
Therefore we can analyse that from the first phase to fourth phase gradually the time span of modification from one technology to another has decreased. Due to enhancement of expertise, equipment’s, know-how, interconnectivity among developing and developed countries, exchange information communication technology and open “political economy”.
Beside all this there are various issues and challenges which confront the establishment of industry 4.0. Let’s have a glance on them one by one.
TopIssues And Challenges
These issues and challenges are at every level of industry 4.0. They are as follows:-