Is the Philippines ready for Industry 4.0?
In our previous blog, we discussed Industry 4.0 and its importance. Here's a recap, the manufacturing industry is undergoing a massive change called Fourth Industrial Revolution or commonly known as Industry 4.0. It is the new phase in the Manufacturing and Industrial Revolution that focuses on connectivity, automation, machine learning, and real-time data analytics. In a nutshell, Industry 4.0 is interlinked in both the physical and digital sectors of manufacturing that allows better collaboration across the different departments.
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It is prudent to understand how the Philippines is compared to other nations when it comes to manufacturing and technology. And 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 and weak performances in terms of technology and innovation. Although the Philippines may be slower in its adaption to the newest technology, the government is ensuring it not left behind by its ASEAN neighbors. The Department of Science and Technology – Philippine Council for Industry, Energy and Emerging Technology Research and Development (DOST-PCIEERD) is now amid conceptualization, formulation, and implementation of research and development (R&D) strategies, policies and plans for emerging technologies which includes Industry 4.0.
However, to prepare for Industry 4.0 the manufacturing industry have few things that are needed to be considered to have a smooth adaption at a macro level.
1. Up skill Workers:
Given the fact that this new industry is focusing on digitization and automation, it is important
to re-skill and up-skill the laborers to adapt to the new technology.
2. Upgrade of New Technology:
The key factor in industry 4.0 is the use of advanced technology and continuously seek of
frugal innovations. A few IT companies in the Philippines are already providing advanced
technology like machine learning and artificial intelligence that is critical to Industry 4.0.
3. Government Alignment:
The government needs to be aligned with where the technology is heading today. And the Philippines should transition to data-centric management and governance.
Currently, the Philippines needs tremendous improvement in the institutional framework, workforce up-skill and boosting technology and innovation platforms before the manufacturing industry reaps the benefits of Industry 4.0. But most importantly businesses need to understand what Industry 4.0 is all about, together with the emerging technologies associated with it for them to adjust and evolve in the future.
Companies should also start to look for technology partners with unparalleled expertise, excellent track record, skilled local support and solutions that can streamline their businesses that can provide a smooth transition to Industry 4.0.
Webcast Technologies Inc. is an Information and Technology company known for innovation and integrated positioning solutions. WTI offers different solutions that are gearing up for Industry 4.0. Email us at firstname.lastname@example.org to learn more.
Source: Manila Times, Businessworld