4th Industrial Revolution Current Affairs

WEF launches Centre for Fourth Industrial Revolution in India

The World Economic Forum (WEF) has announced its new Centre for Fourth Industrial Revolution in India.. The Centre will be based in Maharashtra. It was launched by Prime Minister Narendra Modi at function held in New Delhi. It will be fourth center in chain-ones as part of WEF’s global network along with San Francisco (US), Tokyo (Japan) and Beijing (China) are already functioning.

Centre for Fourth Industrial Revolution

The centre will facilitate to bring together government and business leaders to pilot emerging technology policies. It has selected drones, artificial intelligence and blockchain as the first three project areas. The centre will work in collaboration with government on national level to co-design new policy frameworks and protocols for emerging technology alongside leaders from business, academia, start-ups and international organizations. NITI Aayog will coordinate partnership on behalf of government and work of centre among multiple ministries.

The initial efforts at national level are focused on two emerging technology areas AI and machine learning and blockchain and distributed ledger technology. The first project will focus on expanding access to data to accelerate adoption of AI in socio-economic areas like education, healthcare and agriculture. The second will focus on application of smart contracts to boost productivity and transparency while reducing inefficiency. At state level, Maharashtra Government in collaboration with Centre is planning to undertake a drone mapping operation in the agriculture sector. These projects will be scaled across India and globally

World Economic Forum (WEF)

It is an international institution founded by Klaus Schwab that works to improve the state of the world through public-private cooperation. It was established in 1971 and is headquartered in Geneva, Switzerland. It serves as independent not-for-profit organization that works closely with other international organizations. It also works with leaders in the field of politics, business, academia to set global, regional and industrial agenda.

Month: Categories: Business & Economy Current Affairs 2018

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February 12: National Productivity Day

The National Productivity Day is observed every year in India on February 12. Besides, February 12-18 is observed as National Productivity week throughout the country with the theme ’Industry 4.0 Leapfrog Opportunity for India’.

The main observance of day is organised by National Productivity Council (NPC) for encouraging all stakeholders in implementation of productivity tools and techniques with contemporary relevant themes. This year it is 60th Anniversary of the NPC and is being celebrated as Diamond Jubilee Year.

Industry 4.0

It is also called as fourth industrial revolution. It is emerging globally as powerful force and is being called as next industrial revolution. It is characterized by increasing digitization and interconnection of products, value chains and business models.

Industry 4.0 means convergence of real and virtual worlds. It is the next phase in bringing together conventional and modern technologies in manufacturing.  It will result in “Smart Factory”, which is characterized by versatility, ergonomic design, resource efficiency and direct integration with business partners.

Previous industrial revolutions

The first industrial revolution was triggered by water and steam power to move to mechanical manufacturing from human labour. The second industrial revolution built on electric power for mass production. The third industrial revolution used electronic and information technology to automate manufacturing. The fourth industrial revolution is the current trend of automation and data exchange in manufacturing technologies.

National Productivity Council (NPC)

NPC is a national level autonomous organization under Department of Industrial Policy & Promotion (DIPP), Ministry of Commerce & Industry to promote productivity culture in India. It was established as registered society on 12th February 1958 by Government to stimulate and promote productivity and quality consciousness across all sectors in the country.

It is a tri-partite non-profit organization (NGO) with equal representation from government, employers and workers’ organizations. It also has representatives from technical and professional institutions including members from local productivity councils and chamber of commerce on its Governing Body.

It also implements the productivity promotion schemes of Government and carry out programmes of Tokyo based Asian Productivity Organization (APO), an inter-governmental body of which India is founder member.

Month: Categories: India Current Affairs 2018

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