Today’s world of business is significantly impacted by technological advances. This blurring of boundaries between the physical, digital, and biological world is referred to as the Fourth Industrial Revolution (IR). Advances in artificial intelligence (AI), robotics, the internet of things (IoT), 3D printing, genetic engineering, quantum computing, and other technologies impact the way work gets done, how products are produced, and how companies achieve their objectives. Regardless of the company’s size, age, or industry, advances in technology such as artificial intelligence are making their way into the daily practices of companies, and companies must consider the implications of the Fourth IR when developing strategic plans.
Consider the role these advances can play in your selected company’s strategic planning.
- Provide a brief overview of the company you have chosen for your project; where is it headquartered, and what are the services or products it provides?
- Pick an aspect of the Fourth IR (advances in artificial intelligence, robotics, the internet of things, 3D printing, genetic engineering, quantum computing, or another technology).
- How could this impact a company’s strategic planning?
- Specifically, how could this aspect play a role in the strategic planning for your company?
- Within your company, what are two dangers of this aspect of the Fourth IR?
