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Problems with the Industrial Revolution

[Summary]The Fourth Industrial Revolution: what it means and how to respond | World Economic Forum On the whole, there are four main effects that the Fourth Industrial Revolution has on business-on customer expectations, on product enhancement, on collaborati

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The Fourth Industrial Revolution: what it means and how to respond | World Economic Forum

On the whole, there are four main effects that the Fourth Industrial Revolution has on business—on customer expectations, on product enhancement, on collaborative innovation, and on organizational forms. Whether consumers or businesses, customers are increasingly at the epicenter of the economy, which is all about improving how customers are served. Physical products and services, moreover, can now be enhanced with digital capabilities that increase their value. New technologies make assets more durable and resilient, while data and analytics are transforming how they are maintained. A world of customer experiences, data-based services, and asset performance through analytics, meanwhile, requires new forms of collaboration, particularly given the speed at which innovation and disruption are taking place. And the emergence of global platforms and other new business models, finally, means that talent, culture, and organizational forms will have to be rethought.

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