The Fourth Industrial Revolution: Awareness and preparation of nations

Abstract

As it is stated that the fourth industrial revolution is taking place globally, this paper aims to determine relevant awareness of developed and developing countries in the world by analysing actual responses of 15 governments in this context. In addition, the paper also highlights common views about interests, goals, as well as barriers and challenges that nations must deal with in this process. The findings show that: by collaborating with universities, academics, and enterprises in planning and implementing national strategies and policies, developed countries have identified their investment focuses, which include their national advantages and several technologies that demand improvement. Especially, the availability of specific and detailed financial resources has helped these nations to implement effective and successful policies and initiatives. With developing countries, in addition to having limited resources and varying awareness and orientation toward the 4th Industrial Revolution along with its relevant technologies, developing nations also show a lack of clear digital strategy to prepare for the readiness in this context. Developing countries first and foremost also need to arrange sufficient financial resources to implement relevant policies, initiatives, programs, to develop digital start-ups, as well as to invest in education and training.