Surviving The Fourth Industrial Republic - The C4IR Core Projects
Like all industrial revolutions, the advent of the fourth republic has caused uncertainty and jeopardy. The Republic (4.0) is rapidly interrupting with all set structures thereby leaving the bureaucracy of the past republics disorganized. All industries across the world are undergoing intense reshaping just as much as previously existing laws and regulations are being reviewed.
This uncertainty has given rise to an establishment of the World Economic Forum, which is the Centre for the Fourth Industrial Revolution (C4IR). The Centre is established to serve as a network that connects internationally leading corporations, governments, civil societies, and experts. In another sense, the Centre can be seen as a coalition created for the survival of the harsh conditions that come with the Fourth Industrial Revolution. This survival is put down to two factors, the effects of the governance frameworks and policies that all parties involved in the coalition, and the success of the core projects of the Centre.
The Three Core Projects Of The C4IR
The targeted ambits of the Centre is quite big, putting together a chain of international powerhouse across the globe in all industries and governments in order to provide proactive, goal-oriented and agile approaches. With its newly co-formed regulations, the Centre aims to achieve a standardized industry across the world. These projects are based on nine key areas, but we will, however, be focusing on just 3 for now.
1. Artificial Intelligence and Machine Learning
The effects of AI in our homes, businesses, and nations cannot be overlooked. Soon, like robots, they will be our drivers and any other professional we can imagine. Advances in machine learning hold the solution to many of the challenges facing the world. As AI is integrated into the Centre, there should be rules that will guide their use in order to prevent abuse and propagate transparency. The areas covered by this project decision-making tools for corporate boards, regulations for the use of AI by governments and the standards for AI meant for children.
2. Electronic Commerce
Digital trading was a big hit globally in 2017, generating trillions of dollars through economic activities. For this channel of trading to grow effectively, there should be a free flow of data as well as the application of protocols made by the Centre. These protocols make it possible for even undeserving nations to gain from the benefits of the C4IR. The targeted areas in this project are the development of a regulatory toolkit for online payments, the formation of new policies that steady e-commerce and so many others.
3. Data Policy
Data are the blood lives of this fourth generation republic. More than ever, data are being generated. In fact, the worldwide volume is predicted to double between 2018 and 2022, and then double again between 2023 and 2025. The internet of things(IoT) has led to a persistent increase in data generation. This has, in turn, led to the breakthrough of autonomous vehicles and drone technology. Due to the constant increase of data, decision-makers need very clarified and realistic operational policies. This project aims to integrate the positive effects of collected data into a business.