View attached explanation and answer. Let me know if you have any questions.

Running head: FOURTH INDUSTRIAL REVOLUTION

The Digital Transformation of Business in the Fourth Industrial Revolution
Student’s Name
Instructor
Institution
Date

1

2

FOURTH INDUSTRIAL REVOLUTION

Introduction
Change is inevitable. Throughout the millenniums, the world has experienced changes
that have shaped the very core of our existence. From the First Industrial Revolution, where
production began to be mechanized through water and steam power, to harnessing electricity
to facilitate mass production in the The Second Industrial Revolution, and The Third, which
employed information technology and electronics to automate production (Petrillo et.al.
2018). We are now on the brink of The Fourth Industrial Revolution, which in its wake is
revolutionizing the very fabric of our existence through technological advancements. In its
complexity and intensity, the Fourth Revolution will transform everything unlike we have
seen before. Therefore, it is vital to start making changes in anticipation of the full scale of its
transformation. In this regard, this paper will focus on the digital transformation of businesses
to support their transition into the Fourth Industrial Revolution.
As the Fourth Industrial Revolution Builds on The Third, it is characterized by the
technological fusion of the biological, digital, and physical spheres to impact each sector of
our lives (Petrillo et.al. 2018). Furthermore, it is evolving at rapid pace compared to the
foregoing industrial revolutions with huge transformations requiring businesses to adapt
faster to survive. Unlike the first and second Industrial Revolutions, which happened in bits
from country to country and in different industries, the Forth is simultaneously transforming
countries and industries. It impacts entire production systems, management frameworks, and
business models simultaneously and globally. In addition, technological advancements have
made it that the world is interconnected through mobile devices, which offers broad access to
knowledge. Besides emerging technologies such as big data, the Internet of Things, quantum
computing, robotics and artificial intelligence among others continue to influence businesses
globally.

FOURTH INDUSTRIAL REVOLUTION

3

These technological advancements have already seen shifts in workforce structure as
artificial intelligence has already been implemented in many businesses in the form of virtual
assistants and other software (Philbeck & Davis, 2018). The availability of huge data
amounts and the increasing computing power empower businesses with different algorithms
for predicting customer preferences. The very structure of raw materials is being shifted with
digital fabrication technologies. Like the other industrial revolutions, the Fourth bears the
huge potential to raise the global income levels. Technological interconnectivity has already
enabled consumers to afford accessible products and services with efficiency without
geographic limitations. This is made better by access t...