Financial Management 1B

UNIT 1: Introduction to Financial Strategy

WEEK 2 – LESSON 3
THE4 INDUSTRIAL
th

REVOLUTION
What is the 4th Industrial Revolution (4IR)
Introduction
 A rapid and major change in the economy, driven by a shift in the
methods and types of work undertaken;

 Technologies such as cloud computing, big data, data analytics,

process automation, artificial intelligence, data visualisation,
blockchain, internet of things, mobile technologies and 3-D
Printing are developments predicted to drive 4IR.

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INDUSTRIAL REVOLUTIONS

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4th INDUSTRIAL REVOLUTION
Features of 4IR
FUSION Cyber and physical systems will continue to fuse becoming increasingly
autonomous.
EMPLOYMENT Prediction of many jobs being redundant or fundamentally different
to today.
AI & Machine Increased speed, optimization, easier product customization &
Learning reduced costs.
Machine-led A shift where workers will now help machines manufacture.
manufacturing
Improved asset A more efficient use of natural assets, a shift to renewables, innovation
management to recycling coupled with digitization

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 4IR
KEY TECHNOLOGIES
TECH 1: CLOUD COMPUTING
CLOUD COMPUTING:
Defined as the delivery of on -
demand computing resources -
everything from applications to data
centers – over the internet (IBM).

Remote servers hosted on the

internet;
Public & Private clouds

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TECH 2: BIG DATA
BIG DATA:
Describes data sets so large and varied that they are beyond the
capability of traditional data-processing

SOURCES OF BIG DATA:

STRUCTURED DATA – Deliberately produced and collected for specific
purpose and therefore exhibits a clear, deliberate structure;
UNSTRUCTURED DATA – Captured passively without a clear purpose
(i.e. social media posts and ‘likes’ are examples

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TECH 3: DATA ANALYTICS
Data Analytics:
Process of collecting, organising and analysing large sets of data (big data) to
discover patterns and other information which an organisation can use to inform
future decisions.

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TECH 4: PROCESS AUTOMATION
Process automation:
Involves the use of technology to automate processes previously
carried out by humans.

Modern process automation:

Increasingly automation and process automation are focusing upon
complex and skilled business areas, which would previously have
been considered beyond the limits of technology.

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TECH 5: ARTIFICIAL INTELLIGENCE
Artificial intelligence (AI):

AI is an area of computer science that emphasizes the creation of intelligent

machines that work and react like human beings;

Some of the more advanced activities and skills artificial intelligence can now
master, and therefore present huge opportunity for developers and companies
alike, include:

Voice recognition, Planning, Learning and Problem solving

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TECH 5: ARTIFICIAL INTELLIGENCE
Machine Learning:

Is a sub-set of AI, in which computer code is built to mimic how the human
brain learns;

Machine learning algorithms detect patterns and learn how to make

predictions and recommendations rather than following explicit programming
instruction. The algorithms themselves then adapt to new data and experiences
to improve their function over time.

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TECH 6: DATA VISUALISATION
Data visualisation:

Allows large volumes of complex

data to be displays in a visually
appealing and accessible way that
facilitates the understanding and
use of the underlying data

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TECH 7: BLOCKCHAIN
Blockchain:
A blockchain has been described
as a decentralised, distributed
and public digital ledger that is
used to record transactions across
many computers.

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TECH 7: BLOCKCHAIN

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TECH 7: BLOCKCHAIN
Benefits of blockchain

Security
Decentralised
Transparency
Traceability and
completeness
Reduced fraud risk.

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TECH 8: INTERNET OF THINGS
Internet of things:
The internet of things describes the network of smart devices with inbuilt
software and connectivity to the internet allowing them to constantly monitor
and exchange data.

Essentially anything with and on off switch can become a ‘smart’ device and be
connected over the internet. This allows them to ‘talk’ to us, applications and
each other, which is at the core of their functionality. This monitoring and
connectivity leads to vast amounts of data for businesses to capture and leverage.

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TECH 9: MOBILE TECHNOLOGIES
Mobile technology:
Code-division multiple access (CDMA) is the technology that underpins mobile
technology. It has developed rapidly over the last decade and increased the
capability of mobile technology.

Below are just some of the more familiar industries or activities being
significantly impacted:

Newspapers and media, Advertising, Music, Banking, Socialising & TV/film.

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TECH 10: 3-D PAINTING
3-D PRINTING:
3-D printing is part of a process known as additive
manufacturing where an object is created layer by
layer;

It allows complex parts and components to be

produced cheaper, faster and in an entirely
customisable manner.

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