Welcome in the Era of the fourth Industrial Revolution
New Era = New Leadership Challenges
2016 is the tipping point from which on our economy and society are starting to transition into a new era, the so called "Fourth Industrial Revolution" (Prof. K. Schwab, World Economic Forum 2016). This technological revolution based on numerous innovations like for example Advanced Robotics, IoT, Big Data, Blockchain, Virtual Reality, Cloud Computing and mobile Internet are fundamentally altering the way we live, work, and relate to one another. In its scale, impact, speed and complexity, this "digital transformation" is unlike anything humankind has experienced before.
At the same time we see on all executive levels a new generation of "digital leaders" emerging who are in charge of shaping the future and driving profound change by use of these disruptive technologies and trends. In addition to this many organizations are still adapting to the opportunities and challenges of the third Industrial Revolution.
We don't know how the future is going to unfold. But we know for sure, it requires a new skill-set and a new mind-set especially on executive level in order to successfully lead a company through these times of profound change. This applies for well-established companies as well as tech-startups.
You have heard the phrase "Be ready or be disrupted"? No worries. With our unique expertise and personalized executive coaching program you will embrace shaping the digital future!
From First to Fourth Industrial Revolution
The first Industrial Revolution (1784) was characterized by steam and water. The second Industrial Revolution (1870) was the introduction of electricity to mass produce things. The third (1969) was characterized by the internet, communication technologies, and the digitalization of everything. The fourth Industrial Revolution (2011) is the concept of blurring the real world with the technological world.
Photo: DFKI (2011)
The profound Change is already here
The blurring of technology into every part of our lives is becoming the norm. We can experience the impact in several areas already.
From a consumer perspecitive:
Virtual reality that allows us to transport to new worlds or consume and interact with information in new ways.
Advanced robots and software working side-by-side with humans.
Nano-bots that could one day be injected into the human blood stream to cure an illness.
3D printing tools and limbs.
Voice controlling your house.
Artificial intelligence being used to help a doctor diagnose a patient.
From a business perspecitve there are huge shifts in business sectors happening already:
Many companies are emerging much faster and disrupting the way business has been traditionally done (e.g. AirBnB, Ueber, Facebook, Paypal, Alibaba, Amazon, Google.,...)
Big Data, Data Analytics lead to Data as a new currency
Established companies are having difficulties adjusting to the speed and depth of changes in the market and have to find other ways to innovate much faster.
Executives must anticipate and leverage the disruptive innovations and trends for their own industries, and begin to put in place the capabilities necessary for success in a world that doesn’t play by the old rules of business.
Source: The World Economic Forum https://www.weforum.org/focus/the-fourth-industrial-revolution/