Firstly let us get an understanding of what is exactly referred to by discussing the Fourth Industrial Revolution according to Google this is a rough summary:
“Existing technologies are merging with new electro-bio-mechanical technologies, artificial intelligence, autonomous vehicles, and the internet of which components are merging with humans’ physical lives. Think of voice-activated assistants, facial ID recognition or digital health-care sensors, 3D Printing devices, replication of body parts. Mobile devices and connectivity allow instant decisions, be open, connectivity demands honesty and upfront acknowledgement, even about mistakes. If you are not you will be caught out and shamed.”
Let us quickly go back and check on the 4 Industrial Revolutions:
- The first Industrial Revolution in 1765 was the steam era.
- The Second Industrial Revolution in 1870 electricity, gas, and oil.
- The Third Industrial Revolution 1969 electronics, telecommunication, digitization, and computers.
- Industry 4.0. The internet marriages and mergers with the previous eras. We have been living history for a while, at least in my era, I was born in 1968 and just in time for the third cycle.
We have been living through change and now it seems that we are in for a super boost of development and progress. The fourth industrial revolution is upon us and changing our lives as we know them fast and forever. The way we live, the way we shop, communication, education, and commerce all are changing faster than we sometimes manage to keep up to date with, the changes that are shaping the new world for us. Will, it fundamentally changes the way we live and interact!
The Covid Pandemic has definitely expedited the progress and advancement of the uptake of technologies. Forever the workplace has been influenced and changed. We are evaluating other nations and political leaders differently, and interacting on another level with all the personal protective protocols that have been implemented for the safety of humankind.
Quickly traditional office blocks are being transferred into mixed-use live, work, play spaces for the technologically advanced amongst us.
The educated will profess that we are now competing in and on a demand-driven business platform. Machines are receiving personalities, technology is enabling disruption, which in return is enabling disruptive business strategies.
The new becomes old quickly and you are left behind if you are not forward-thinking and driving the change.
Robotics and cyber technology have arrived and have joined us to stay. Pasta making, burger-flipping, onion peeling, baking biscuits, you name it robots can do it or make it. They can do it faster more accurately and for longer without complaints or asking for breaks. They do not play with their cellphones instead of working. They do not call in sick, or go slower as the day progresses.
Luckily they still need a hand from their human competitors. Our jobs are changing and we are competing against big data, analytic techno giants.
- Workplace changes.
- Workforce requirement changes.
- Living spaces are changing.
- Personalized services.
- Facial recognition.
- Big data.
- Analyzing shopper trends.
- Using harvested shopping preferences and habits.
- Digital menus.
- Interactive terminals.
- Advance ordering.
Market leaders comment, “How disruptive can the marketplace become, many experts reckon that the next three years can be more disruptive than the previous twenty to thirty years. Seems that we are guaranteed excitement at the very least”. Strap yourself in, brace yourself and hold on!
People are spending less time at home and eating away from home more regularly, the fast-casual takeaway and sitdown market is booming and growing at a pace that the traditional market leaders are becoming challenged by many new entrants into the market space. Information and data, watch this space! People order, pay, and receive the delivery, in a flash faster and cheaper than ever before.
Analyzing data correctly and driving hungry consumers in the correct direction, production will have to keep up with the demand, and technology will assist the management in the operations and planning departments to keep track and deliver on par to the consumer.
Stay ahead of the curve so that you do not get left behind!
Author: Marius Joubert
Founder of Restauranthub.co the first true community for the restaurant and hospitality industry.
