Southeast Asian countries have focused on the fourth industrial revolution or Industry 4.0. The network of connectivity between machines and the other manufacturing line is the key factor in this technological evolution.
While ASEAN countries have experienced economic growth in recent years, the region was expected to be one of the largest economies by 2050. In leading to this target, the digital transformation is seen as a significant factor in its growth.
Like other ASEAN member countries, Myanmar should focus on visions and policies to integrate technologies such as Internet-of-Things (IoT) and Artificial Intelligence (AI) into the country.
Experts estimated that Industry 4.0 technology could help increase annual economic gains up to between US$216 and 627 billion by 2025.
As Industry 4.0 largely relates to computer-assisted manufacturing technology and smart technology, products could be manufactured on a massive scale. On the other side, computerized machines will replace human workforces. However, the capacity of workforces must be developed to be able to work with the innovative technologies.
No country could turn a blind eye to this trend as it has great benefits to the world. Industry 4.0 will feature lower energy requirements at the factories; this trend will lower the amount of energy used by factories as more countries have opted for more sustainable energy sources.
Industry 4.0 will come together with the technology of the Internet of Things (IoT) with smart devices that will rely on wireless signals to transmit information about everyday tasks.
Improvements in Artificial Intelligence (AI) would be experienced in the Industry 4.0 age as this technology is essential for improving the quality of responses to demands for new products in the future.
Many changes will surely be seen in the manufacturing industry, thanks to Industry 4.0 as it can incorporate digital registration and machine learning for effective and efficient production processes.
All the global countries, including ASEAN members, are making economic strategies for the post-COVID-19 crisis. Myanmar also should not deviate from the focus of Industry 4.0 that could become a tool to leapfrog and overtake other developing countries.