The Fourth Industrial Revolution will bring benefits for people everywhere, make our planet more sustainable, and provide new opportunities for businesses of all kinds, according to Nokia CEO, Rajeev Suri.
In a blog post on Nokia's official website, he said, "I am an optimist. I absolutely believe that we are on the cusp of not just a technological revolution, but a productivity revolution."
He supported this with findings from Nokia Bell Labs' research. The research found that four physical infrastructure technologies provided the underlying foundation for growth: energy, transportation, health and sanitation, and communication, thus making the Golden Century of 1870 to 1970 possible. It further found emerging digital equivalents that align with the four technology foundations of the Golden Century. These are digital energy, digital transport, digital health and digital communication; a fifth one was added too- digital production.
"By calculating when these digital technologies could reach their tipping points and by applying historical formulas, Nokia Bell Labs has projected a significant productivity jump, as much as 30% to 35% in the U.S., starting at some point between 2028 and 2033. This is a similar leap to the 1950s and could add approximately $2.8 trillion to the U.S. economy. Similar gains are anticipated in India, China, and other nations," said Suri.
He further added that the widespread deployment of high-capacity, low-latency 5G networks is a major catalyst to the digital infrastructure of the future. "Wide trials are taking place this year that could lead to full commercial 5G deployments in 2019... Telecommunication companies that take the path to 5G now, and focus on software-defined networking and the cloud, have a massive opportunity to benefit from serving these industries during their transformations."
So, what are going to be the impediments on the way? Suri says skill development would be a concern as the workforce transforms."Policy work between governments, technology companies, and the emerging digital industries is an essential building block for realising the massive potential of the Fourth Industrial Revolution."