How prepared is the Philippines for the Fourth Industrial Revolution (FIRe), also known as Industry 4.0? Based on the World Economic Forum’s (WEF) Readiness for the Future of Production Report 2018, the Philippines has a low level of readiness for future production, characterized by weak performances in terms of technology and innovation, human capital, and institutional framework, among others.
Humans working together with machines may still seem unusual these days, but that will not be the case in the coming years.
In today’s age of automation and disruptive technologies, also known as the “Fourth Industrial Revolution (FIRe)”, new technologies are expected to emerge. Aside from robotics, the world is beginning to see innovations in the field of artificial intelligence, genetics, nanotechnology, biotechnology, internet of things, and 3D printing. All of these are expected to improve the quality of people’s lives.
To keep up with the rapid pace of technological advancement, state think tank Philippine Institute for Development Studies (PIDS) enjoins legislators in the country to prioritize policies that will harness the benefits as well as reduce the adverse effects of the Fourth Industrial Revolution (FIRe).
If the Philippines wants to sustain its economic growth in the past years, it should be able to keep up with the age of disruptive technologies or the so-called “Fourth Industrial Revolution (FIRe)”, also known as Industry 4.0.
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