Masterclass: Applied technologies in the 4th Industrial Revolution

Foreign. Hi, I'm Dr. Jonathan Reichental. Welcome to this masterclass, leading in the fourth industrial revolution from Asadi. During this masterclass that I've prepared especially for you, we will see the possibility of creating a scaled offer adapted to each of the business realities. And we'll explore the benefits of the fourth Industrial Revolution, but with a business approach, the ESADE approach. I hope you enjoy this masterclass and I remind you that it's an anticipation to our online certificate in Leading in the Fourth Industrial Revolution, which we will be talking about at the end of the video. Let's begin. I've been exploring and looking at innovative technologies for a lot of my career. I've been helping organizations understand what the impacts of those technologies might be on their businesses, even what it means to individuals. And I've been doing this for about 30 years. But something is changing. Something's been happening over the last, just last few years. Just seems like change is happening faster, it's more unpredictable. And it's not just technological change. I mean, we have significant demographic change around the world, some countries that are growing much older, and then you have countries that have very young populations. We have the crisis of the climate, and that's having a lot of impact on policymaking and how we think about the future. We also see the emergence of new materials, and we are looking at huge amounts of urbanization. Three million people approximately, moving into cities every week. So there just seems to be a lot of things happening. And I've been trying to make sense of this myself. What changed, what happened? And so I'm really fascinated with the work of the World Economic Forum. A number of years ago, they proposed this idea that we are potentially entering another industrial revolution after three that already happened. We had the first industrial revolution in the 1700s, was all about steam and new materials and railways. We got to the second industrial revolution in the 1800s that was about electrification and telecommunications. And then the third industrial revolution started in the 1950s that ultimately led to the creation of the Internet and really was about digitalization and electronics. Now we're entering what appears to be a fourth Industrial Revolution. So the fourth Industrial Revolution really characterizes many things. I've just been talking about massive change, massive technological change, impacts to the way we work, where we live, how we live, to demographics, to the climate. It's an intersection of the physical, the digital and the biological worlds. It's a period of change. And that change means that we need to think about what we do and the way that we do it, particularly what it means to Our organizations, we need to evolve leadership, we need to evolve how we take risks, we need to evolve our business models. The fourth Industrial Revolution will impact everybody in different ways, but it will impact all of us. It's a really important part of thinking about the world today, what the world will be over the next few years. We're now in a world that is hyper competitive. Not only is it hyper competitive between countries, but it's getting very competitive between individuals. How do we differentiate each other? What value do I bring to the workplace every day? Am I still competitive? Am I still in demand? Do I add enormous value to my organization? These are important questions to ask. And because of accelerating change, it's even more important today. So what can you do about it? Well, one of the things you can do is you can think about what are the times in which we live. And knowing that we are now entering a revolutionary time, a time of transition, knowing that this is happening, it's important for us to understand it, to understand the technologies and the changes and what that means. Because the more that we understand that, the more potentially we can craft our strategy, both as an individual, but also as an organization. So my view, the fourth Industrial Revolution represents a big picture sense of all the changes that are happening in the world today in the early part of the 21st century, and will be with us probably for several decades. So if you're thinking about how do you continue to be successful or how do you get successful in your career, my view is learn about the fourth Industrial Revolution and what it means, and in particular, determine how you can lead, how you can be a leader, not just as a leader of people, but a leader of ideas and somebody who can help others see opportunities, think about ways in which people can tackle challenges differently and continue to be optimistic about the opportunities ahead. That's why I believe strongly that those that have knowledge and understanding and even expertise around this big topic of the fourth Industrial Revolution are probably better positioned to be successful than the. And those that have no idea are just not paying attention to this really important space. As we look around the world today and we look at new technologies that are starting to spring up, there's a lot. This is not like 20, 30 years ago when you could kind of see one technology emerging, get used to it, learn it, and then deploy it. Now, new technologies happening at a very fast rate and in volume, figuring out which ones to focus in on or identifying the ones that are most important, well, that's hard. That's hard because there's just so many. What are These. What are some of the big ones? Probably no surprise to you. The first one, I would say is artificial intelligence. Right. We're getting very good at programming software and seeding these systems with data to enable computers to augment human intelligence, to figure things out faster than we can, to identify objects, to do things like facial recognition. Then there's blockchain. Blockchain came out of Nowhere in about 2008, at least the version of blockchain that supported Bitcoin, which is really where our current understanding of blockchain emerges from. And we were excited because it introduced digital money or cryptocurrency. And then we suddenly discovered, hey, blockchain can do a lot, lot more, becomes a new way of managing data and managing value among people and organizations and even machines. That's a big deal. Blockchain is really intriguing and it'll be exciting to see what happens over the years ahead. What about data? As we connect more devices to the Internet, as more of the world is digitized, all of that is creating masses of data, Massive amount of data exhaust just in doing the work it does. In fact, we're creating so much data, it's big data, and we've had to create new systems and, and use software just to handle the size and volume of data. But those organizations and individuals who are good at managing data, analyzing it, making sense of it, looking for patterns, being able to present it, maybe even tell stories through data, I think those people are going to be at a real big advantage and those organizations are going to be able to potentially leverage the competitive nature of, of understanding and using data in the right ways, IOT the Internet of things. Now it's not only just about connecting people to the Internet, but it's about connecting objects from thermostats to cars. And we're connecting these devices in the millions every few weeks. Each year we're adding billions. And over the next few years, billions and billions of devices will be connected to the Internet, doing all sorts of things in our homes, in our factories, in our offices, and in cities, airports and hospitals and more. It's really one to follow, cybersecurity, I think as we become more digital and more connected as and more reliant on information technology, well, it has amazing benefits. We have to recognize all the benefits, but we also have to understand that we're creating more risks. So with all those benefits, become more security risks. So cybersecurity has to evolve and it is moving quickly. Unfortunately, often the bad people have the advantage. We're playing catch up, but we need more innovation in that space. And it is an important, exciting technology set of technologies. Those cybersecurity tools within the fourth industrial revolution, these were just a few examples of the important technologies in the fourth industrial revolution. There are so many remarkable new technologies that are emerging and changing our world. It's actually very hard to choose one that's making a big difference. But I'd like to sort of explore that topic just for a moment. I don't think there's much question that artificial intelligence presents us with an awful lot of advantages. It's not yet at a place where it's conscious or has emotions, but we can augment what humans do with computers using this artificial intelligence to just get better results and get them faster and figure things out that are hard for humans. We could do it, but it would take us a long time. Artificial intelligence is certainly going to help us with, for example, discovering new medicine or even helping to figure out how we're going to combat the climate crisis over the next few decades. But if I was to think of the biggest technology that may have some profound effects on the world, and it's not here ready yet, it's not in a mode that we can just buy it ourselves, it will be the emergence of quantum computing. Quantum computing represents a completely new technology stack. It's completely different to classical computing. We won't find it on our smartphones or laptops, but we'll access the performance of quantum computing from cloud technology. And if we go out far enough, if the trajectory follows the path we think it's going to, quantum computing could be a million times faster than the fastest computers we have today. So that I suggest is going to be a very big deal. Now, it won't solve everything. Quantum computing does certain things well, just certain things. Optimization, mathematics, and several other things. And we'll see how it evolves. Maybe it becomes better at solving lots of different things. We'll see. We'll see how time reveals how this innovation progresses. But I think between AI and quantum, these are some pretty big game. Changing technologies in the fourth industrial revolution. As we go through this period of transition, as we enter the fourth industrial revolution, and we see great change in the world, not only technological, but in demographics, in political alignments, in economics, in the climate on so many levels, we're seeing change. It can feel tough, and this unpredictability creates uncertainty for all of us. But we have to get through it. And some people and some organizations are going to thrive. They're going to be really successful, and others, they're Going to have a harder time. There's no doubt we're going to invent new industries, and some old industries will go away. But what's clear to me is we need a new leader to emerge. We need a new leader to emerge within organizations and within society that is prepared and ready to lead in this revolution. There's never been a more important time for great, smart leaders. What does that mean? That means thinking differently about how you guide teams through this unpredictability, how you deal with chaos, how you respond to incidents and issues, being optimistic and inspiring people and teams. Being a leader in the fourth industrial revolution means taking more risks than we've done historically. It's about being bold, about being ready to reinvent the business model, to engage in digital transformation, when there's very little certainty that there will be success or less than we would be comfortable with. So we all need new skills, both in how we practice our work and the things we do. And we all need to be better leaders. The future will demand it. So up until now, I've been painting a pretty optimistic view of the fourth industrial revolution and where things may be headed. We'll have tremendous technology. We'll have new gadgets, we'll have new businesses, we'll have new jobs. There'll be more abundance. We'll manage things better. There'll be more options for health care. We're entering a pretty good time. But we do have to be honest with ourselves and pragmatic about what's ahead. All of this change is going to create some new risks, too. It'll make some old risks bigger, it'll fix some risks, but it'll also introduce quite a few new risks. There's certainly risks about cyber security. As more of the world is connected, both people and machines, as there's more integration between systems and organizations, as we produce more and more data and sensitive data, it's creating more potential, what we call attack vectors, places where bad people can do bad things or we can lose the availability of a system. That's also a cybersecurity risk. When we connect, when cars become autonomous and they connect to infrastructure, we don't want people taking over those cars and driving them, you know, making them do bad things. We don't want that happen. So cybersecurity is a big risk, and we have to tackle that. And as we automate and there's more robotics and artificial intelligence, some of the work that humans do will go away, frankly. And I mean, some of the predictions are not great. One analysis says by 2038, hundred million jobs will be displaced by technology. That's 20% of the world's working population. That's sort of the worst case scenario. Perhaps we're wrong. And all this innovation, all these new opportunities, create more jobs. My sense is it'll be somewhere in the middle. We will definitely see more automation displacing jobs, but we will also create new opportunity. And then finally there's the risk of not being inclusive. As technology enables people to do new things and creates new opportunities, there may be people within society who can't embrace it for whatever reason. And that could create this very ugly divide. We have to make sure that the things we are doing and the changes that happen in the fourth Industrial Revolution are more inclusive, so more people can participate. Doesn't matter who you are, what your disability is, where you're from, you should be included in all the benefits and opportunities of society in the future. So we have to be very careful with that. So what can you do? What can you do to embrace the opportunity ahead in the fourth Industrial Revolution? I think this is a time for learning. I think there's actually a commitment to lifelong learning. We can no longer just go to school, maybe go to university, and then that's it. Things are changing too much, too rapidly for us not to pay attention to acquiring new knowledge and adding new value in society and within our organizations. So I would say commit yourself to lifelong learning. Learn about the fourth Industrial Revolution. Learn about leading in the fourth Industrial Revolution. Learn about those technologies and what they may mean to you, your family, your organizations, and to society. The second piece of advice I'd say is be flexible in changing, be adaptable. You may have to change your job more rapidly than you would like. You may have to evolve in what you do and how you deliver more rapidly than we've had to do in the past. Disruption may happen at a moment's notice. And the more flexible you are, the more you can embrace opportunity, the more you're willing to perhaps move for a job, move to a different city, maybe even a different country. So that's very important. And I think finally, risk takers could be rewarded. But we're not all comfortable with taking risks. I think that the future is about each of us being a little bit bolder in how we come forward with ideas, how we get comfortable with the projects we work on. Certainly when the outcomes are more uncertain, the risks we might take to take an opportunity that you think you're maybe not qualified for, or you're going to go to a place that you're just not familiar with. So risk taking can elevate you and put you in a position where you have more opportunities. I couldn't be more privileged or honored to work on this incredible certificate about leading in the fourth Industrial Revolution. What a great opportunity for, for myself and the teams I've been working with and all the experts that we have been able to identify and bring into this course. This is one of a kind. This is a first of a kind certificate in the world on this most important subject. It's not just about the technologies. This is about leadership too, and making a difference in the world and doing meaningful work. So it's a great honor of my life to be involved and to help craft this and create it. And I really do hope that when you take it, you will leave with being inspired and with new knowledge and new skills that you can bring and apply immediately in your life and to your organizations. This certificate really should elevate you and create amazing competitive advantage for you in your life and in your career. Let me take a moment to talk about the role of digital twins and in the fourth Industrial Revolution. So what is a digital twin? A digital twin is a data driven virtual version of a physical thing. So imagine you're wanting to build a car, and instead of constructing it, you will digitally render it and drive it in all sorts of conditions so that you can, for example, choose materials, change the design. You can do a lot of things almost as if the thing is real before we ever build it. That's a digital twin. So what is the role of digital twins beyond just that example I gave? Well, digital twins can play a role in, first of all, how we design products, all sorts of products across the board. It can then play a role in how we build those products. So, for example, we could put sensors on machines, and as the machines are working, it sends information back to a computer that renders a visualization of what's happening at the factory level. We can also use digital twins to operate and maintain products once they're deployed into the world. Imagine for a moment a wind turbine that's in some remote area. These things are huge and they're noisy and they're complicated. We can put sensors on them and anywhere else in the world, maybe 100 miles away, maybe 1,000 miles away, we can have engineers who get information from those wind turbines on their screen and they can figure out, is something wrong? Can I optimize for it? Can I solve a problem? Can I even push software from the digital twin to the physical twin? And so we're seeing digital twins across industries. We're seeing a lot of use now in hospitals for hospital management. We're also seeing digital twins for people so that a digital twin of you can be created and let's say you need, unfortunately, an operation. We can do the operation first on the digital you and then later on the physical you, so we can figure out how to do the operation and make sure there's better outcomes. And we're seeing cities also adopt digital twins. The city of Singapore has created a full rendering of their city and their nation state in a virtual format. So they can see things like for example, energy utilization, or they can look at areas that have problems or manage the deployment of something new or the repair of a road can all be done digitally first before it is done in the physical world. So digital twins are really one of the most perfect realizations of digitalization, of thinking differently about how we do things and optimizing for how we do things. And that's characteristic of the Fourth Industrial Revolution. Now here's a question for you. How might digital twins play a role in your career or organization? I want to thank you for watching this masterclass. I hope you found the content valuable and inspiring. In this certificate program you will why the Fourth Industrial Revolution will have impacts in every industry and to every job. You'll discover and understand many of the game changing emerging technologies. We'll cover why leadership needs to evolve in order for organizations to thrive in this new era. And we'll discuss how both the fourth Industrial Revolution and major technologies present opportunities for you and your organization to embrace and succeed in these uncertain times. This learning platform enables a unique experience that uses an innovative methodology. We merge knowledge with leading technology so that every click and every minute of your time counts. If you want to know more about this program and all the details, you can click on the link that you will find at the bottom of this video. If unlocking ways to increase your competitive advantage is on the agenda, then this certificate is right for you. Join us we'll be ready for. Sam.