‘Adoption of Industry 4.0 no longer an option’
The adoption of new technologies and methodologies under Industry 4.0 is no longer an option but a matter of future survival in a digital world.
As such, industries have to adapt themselves to fast changing technological trends, said Works Minister Baru Bian.
“The trend of industries across the board towards automation and data exchange in manufacturing technologies and processes which include cyber-physical systems (CPS), the Internet of Things (IoT), Industrial Internet of Things (IIoT), cloud computing, cognitive computing and artificial intelligence are disrupting our lives and affecting our day-today business,” he said in his keynote address at the Pacific Association of Quantity Surveyors (PAQS) Congress held at a leading hotel here yesterday.
He pointed out that the fourth industrial revolution is the most disruptive compared to all three previous industrial revolutions combined.
Citing a survey conducted by the World Competitiveness Centre of the Institute for Management Development (IMD) based in Lausanne, Switzerland, Baru said Malaysia climbed to 17th place in 2018 from 25th place in terms of knowledge but fell to 22nd and 29th placing from 14th place and 27th place respectively for technology and future-readiness during the same period.
“This trend can be interpreted as we have been successful in acquiring the knowledge for progress but not so in acquiring the necessary innovative technologies to better prepare us for the future digital world.
“However, with the right mindset and strategies, we shall overcome the challenges by leading the change with the vision of the future and embracing these emerging technologies with human wisdom,” he stressed.
He described the theme for this year’s PAQS Congress ‘Human Wisdom Amidst Emerging Technologies’ as “very befitting”.
“This is because it resonates closely with Industry 4.0 and our need to reflect on our previous precepts and re-strategise our policies to cope with the disruptions that emerging technologies bring,” he said, adding that the congress is the most appropriate platform to bring some of the most renowned minds from the quantity surveyors ( QS) fraternity in the world in order to catalyse progress in both QS profession and the construction industry of member countries.
Chief Minister Datuk Patinggi Abang Johari Tun Openg officiated at the congress, which was jointly hosted by the Royal Institution of Surveyors Malaysia (RISM) and Board of Quantity Surveyors Malaysia (BQSM).