To digitalise, or not to digitalise: That is not the question

BUSINESSES today stand at the cusp of what is being identified as the Fourth Industrial Revolution. They will be propelled by the rise of cyber-physical systems built on data, technology, the tenets of artificial intelligence, robotics, automation, cloud computing, mobility devices and augmented or virtual reality.

Already, there are early developments as the fourth industrial revolution gets underway. In Dongguan, Guangdong province in China, Changying Precision Technology Company, a cell-phone maker, operates one of China's first unmanned factories with just 60 people (previously 600) to oversee the running of the factory. This development is just the tip of the iceberg with more upcoming ambitious plans.

In Singapore, Robinsons uses an e-procurement platform to transact electronically with their two hundred small and medium sized enterprise (SME) suppliers. This move enabled SME suppliers in the programme to use their manpower for higher value tasks and to get data for better inventory management and supply responsiveness.