The bumps facing Cambodia on the road to Industry 4.0

The rapid emergence and adoption of smart, internet-enabled equipment has led some to term the ongoing digitalization of technologies and integration with information and communication technology (ICT) as the Fourth Industrial Revolution or Industry 4.0.

With Asia being one of the predominant manufacturing hubs in the world, many Southeast Asian countries have been preparing their human workers for Industry 4.0. Singapore, Indonesia, Malaysia, and Thailand have all tried to get national Fourth Industrial Revolution (or 4IR) initiatives off the ground, with McKinsey & Company expecting 4IR projects to create up to US$3.7 trillion in global manufacturing value.

The financial impact this will have on the ASEAN region alone (ASEAN standing for the Association of Southeast Asian Nations) might be between US$216 billion to US$637 billion a year over the next five years, indicating the level of interest from regional economies, as noted by member state Singapore’s Prime Minister, Lee Hsien Loong.

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