Industry 4.0: Upskilling, cross-skilling would be important factor in all sectors, say experts

The Fourth Industrial Revolution is replacing the "inefficiencies" of traditional businesses with disruptive technologies and thus upskilling and cross-skilling of employees would be an important component in all sectors, according to experts.

Industry 4.0 and its impact took centrestage at a management summit held Saturday at the Indian Institute of Management (IIM), Rohtak where experts from the core industry and other sectors discussed and deliberated on the subject.

Emphasising on the changing business landscape, Dheeraj Sharma, the director of IIM Rohtak said, "In view of the increased use of cyber systems, it is important that we develop a strong culture of cyber security and cyber-immersion in our institutions."
Arvind Bali, CEO, Videocon (Telecom) said, "The things we see today will vanish in a couple of years. The pace of change is much higher today as compared to what it was yesterday; this pace is an essential NCR-IIM-SKILLINGpart of Industry 4.0."