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Industry 4.0 in the Post-COVID era
Industry 4.0 in the Post-COVID era

December 20, 2021

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COVID-19 has hit us all hard. No nation could escape the disruption it brought in terms of daily life, business, or finance. It completely devastated our understanding of business operations and execution.

Larger, developed nations had the resources to fight the crisis. But for developing nations, including the ASEAN countries, the challenges were more heightened. Hence, the ASEAN manufacturers that were once known as a global phenomenon struggled to claim their title of the factories of the future.

However, despite all the upheaval, COVID-19 also opened a window of opportunity. The one, and perhaps the only, good thing that the pandemic has done is accelerate digital adoption.

While several Asian countries have evolved to become global leaders, ASEAN nations are still considered places for assembly work. However, the novel coronavirus has brought a shift in the mindset of these nations. They now see an opportunity through digital technologies for overall development.

Seeking Digital Technologies to Drive Customer Experience

When the pandemic hit, the organizations that had adopted technologies empowering industry 4.0 seemed to be better positioned to fight the crisis. They were even able to thrive and grow during this period.

Modern digital technologies enabled these companies to shift their business model on the internet. They were able to continue their operations without disrupting customer experience and were also able to enhance it.

With customer experience becoming the key brand differentiator globally, driving customer engagement and providing optimal services to build long-lasting relationships became the top priority for ASEAN businesses. This aspect led to some significant efforts to embrace Industry 4.0 technologies during and post-COVID-19.

 

Efforts to Embrace Industry 4.0 Technologies Post-COVID

Industry 4.0 technologies use data, computing power, human-machine interaction, analytics, intelligence, and advanced production methods. We are already witnessing several companies starting to adopt these technologies to their benefit. The stakeholders are trying to create a digital disruption in ASEAN countries post COVID-19. In the ASEAN Investment Report 20-21, the association has dedicated a significant part of Foreign Direct Investment (FDI) to Industry 4.0 transformation.

Imperatives to Drive the Industry 4.0 Initiatives

ASEAN manufacturers need to follow certain imperatives that can drive the industry 4.0 initiatives undertaken by the government and private sectors. These imperatives, talking in the broader terms, include:

 Domain Expertise

The correct implementation of Industry 4.0 technologies requires domain expertise in both the areas: operations and Information Technology (IT). The fourth industrial revolution is deploying the appropriate technology for the proper use case.

 Digital Mindset

As digital innovation keeps advancing and we connect more technology components, this skills gap will undoubtedly increase. Hence, leaders need to rethink their workforce skill level and develop ways to bridge the skills gap.

 Digital Operations

Digital transformations revamp how you store and use data and intelligence and change how you conduct daily business operations. Hence, businesses must focus heavily on streamlining these operations against the digital technologies to align them and reap the benefits.

 Digital Infrastructure

Digital operations, analytics capabilities, and digital mindset, all need a robust and agile digital infrastructure. This infrastructure is the ecosystem where everything connects to build a revolutionary business model.

The Bottomline

The Post-COVID era is a golden opportunity for the ASEAN nations for various reasons.

Firstly, both private and government sectors have taken initiatives to bring digital development and achieve Industry 4.0 objectives. Secondly, several multinational companies are looking to invest and build factory locations in ASEAN countries. Reasons include that ASEAN offers the perfect blend of low costs, specialty skills, and quick access to both Asian and Western markets. The time to shift the traditional mindset and develop a renewed focus on Industry 4.0 is now

 

Author: Pankaj Chopra, Sales Head & AVP, Far East, MothersonSumi INfotech and Designs Limited (MIND).


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