4.0 Industrial Revolution focussing on emerging technologies like AI, IoT, ML, Big Data, Blockchain can bring many big opportunities in India
Prime Minister Narendra Modi addresses the event on Thursday to mark the launch of the Centre for the Fourth Industrial Revolution. He said modern technologies such as blockchain, Artificial Intelligence has the potential of taking the country on to the next level of modernisation, which can help in improving people’s life quality.
World Economic Forum, which helped in setting up “The Centre for the Fourth Industrial Revolution”, will collaborate with the Indian government to co-design the structure of the new policy for the new emerging technologies with the figureheads of different organisations of business, academia, start-ups and international companies. And on the behalf of government, NITI Aayog will help in coordinating the partnership.
The PM also stated that his government is open to any policy changes to take more advantage from the fourth industrial revolution. “Our diversity, our demographic potential, fast-growing market size and digital infrastructure have potential to make India a global hub for research and implementation,” he said.
The ‘4th Industrial Revolution’ which mainly focuses on technologies like artificial intelligence, blockchain, Internet of Thing, big data and machine learning can create more job opportunities, said by PM Modi at the event.
Digital India Movement has increased the connectivity and now even the villages has the internet coverage, teledensity has increased to 93% and approximately 50 crore Indians use mobile phones. India has become the largest data consuming country across the globe at the cheapest rate, said PM. 4.0 Industrial Revolution will only help in bringing the necessary transformation in India, which can scale up the people’s life and work quality, he said.
India was not the part of the previous industrial revolutions, but this time country’s contribution to the 4.0 Industrial Revolution will be remarkable, said PM.