APEC 2017 to discuss challenges of Industrial Revolution 4.0
VietNamNet Bridge – The 4.0 industry revolution will bring about a new face as it will have a significant impact on all aspects of life of Vietnam, the 21 APEC economies, and all nations around the globe.

APEC 2017 to discuss challenges of Industrial Revolution 4.0

In January 2016, the President of the World Economic Forum said that humanity was in the midst of a new industrial revolution that would change the way we live, work and interact. The scale, scope and complexity of this transformation is unlike anything humanity has ever experienced.

Facing the Industrial Revolution 4.0, the greatest challenge in developing countries like Vietnam concerns labor, and then the development of each country. If we fail in this revolution, we will lag far behind.

Job challenges

Economists Erik Brynjolfsson and Andrew McAfee have pointed out that the Industrial Revolution 4.0 could create greater inequalities, especially in terms of the ability to break down the labor market. When automation replaces people in the economy, workers will be redundant which will exacerbate the gap between profit versus capital and profit versus labor. On the other hand, safe jobs with higher incomes may increase after technology gradually replaces humans.

Beyond economic concerns, inequality is the biggest social concern associated with the Industrial Revolution 4.0. The biggest beneficiaries of innovation tend to be intellectual and material suppliers - creators, shareholders and investors - which explains the growing discrepancies in wealth between people who depend on capital and labor.

The long, hot story about the 4.0 Technology Revolution has attracted the attention of delegates from 21 APEC economies through the APEC 2017 High-ranking Dialogue on Human Resources Development in the Digital Age. 

Deputy Minister of Labor, Invalids and Social Affairs Doan Me Diep said: The 4th Industrial Revolution is a major trend in the world, with the driving force being the development of science - technology. The foundation of this revolution is digital technology and the integration of smart technologies to optimize processes and production methods. The application of digitization and automation technology cannot only improve labor productivity but also facilitate the emergence and development of new business models, new markets and new employment opportunities.

Representatives from APEC economies jointly proposed a set of policy orientations and appropriate measures to support economies in preparing for their workers to cope with the opportunities and challenges of employment today and beyond. And it is important that APEC should be used as a regional forum for policy dialogue and cooperation on human resources development in the digital age.

The challenge of information security

APEC 2017 to discuss challenges of Industrial Revolution 4.0

The Industrial Revolution 4.0 is a technology trend that Vietnam must aim to catch up with developed countries in the world. However, in addition to the new challenges of employment, this revolution also brings with the challenges of information security that requires countries to be prepared for.

For developing countries like Vietnam, this challenge is even greater as technological and human resource conditions are not ready to adapt and take advantage of the opportunities that the 4th Industrial Revolution brings about. Security issues will become much more important. Specifically, Vietnam's information technology infrastructure is basically progressing but still inadequate. In addition, the managerial-cognitive, managerial perspective and knowledge required to meet the new requirement should also be taken into account.

Therefore, Vietnam has actively prepared to welcome this revolution. In late 2016, the Ministry of Information and Communications studied the trend of the Fourth Industrial Revolution. Accordingly, the ministry will work with relevant agencies to further improve policies to promote broadband infrastructure in Vietnam, and create a solid foundation to be ready to welcome the opportunities that the Fourth Industrial Revolution offers.

Minister Truong Minh Tuan was quoted by VietNamNet as saying that although developed countries have advantages over developing countries in terms of technological and economic potential, if we can take advantage of opportunities, we will not be too far behind developed countries. Vietnam is a small country but not a weak one in terms of information technology and telecommunications. So we need to make good use of this opportunity.

In pursuit of the 4.0 Industrial Revolution, broadband infrastructure and information security play a fundamental role. Telecoms and information technology businesses also need to accelerate their research into new applications following the inevitable trends of technology such as cloud computing, IoT and others.

The Ministry of Information and Communications will provide policy and guidance for telecom and information technology businesses to move towards cutting edge technology. In addition, the ministry will also promote the development of broadband infrastructure that ensures quality, safety, security, and availability for the connection of IoT equipment in the manufacturing sector. 

At the same time, the ministry also encouraged the development of a number of key products in the information technology and telecommunications industry. Building the foundation of large data centers, IP infrastructure, cloud computing, artificial intelligence ... and promoting the application of information technology in all aspects of life.

The next step is the development of policies and mechanisms towards the development of the digital economy; creating policies to support start-ups, innovation; and creating an open ecosystem for the development of information technology in socio-economic fields. The Ministry of Information and Communications will strengthen propaganda and prioritize the development of key human resources to be ready for the industrial revolution this time.

The head of the Information and Communications sector identified that it is essential to develop a strategy from now until 2025 and a vision to 2030.

Bich Van

APEC 2017 to discuss challenges of Industrial Revolution 4.0