EMERGING TECHNOLOGIES IN 4TH INDUSTRIAL REVOLUTION

DEPARTMENT OF MANAGEMENT INFORMATION SYSTEMS

UNIVERSITY OF DHAKA

COURSE CODE: MIS104

COURSE NAME: COMPUTING FUNDAMENTALS

SUBMITTED TO:

PROF. MD.ABDUL HANNAN MIA, Ph.D.

PROFESSOR

Department of Management Information Systems

University of Dhaka, Dhaka-1000, Bangladesh

SUBMITTED BY

GROUP NAME: LEARNERS

SANJIDA ALAM SAMIA 131-17-047

AYESHA TABASSUM 131-17-011

MD. RAHAT RAHMAN 131-17-001

S.M.MOSADDAK FAISAL 131-17-037

MD. KOMAIL ALI RAFI 131-17-065

DATE OF SUBMISSION: DECEMBER 15,2022

 GROUP DETAILS

BBA 28 TH, MIS 17TH

DEPARTMENT OF MANAGEMENT INFORMATION SYSTEMS

SECTION A

FACULTY OF BUSINESS STUDIES

STUDENT ID NAME REMARKS

131-17-047 SANJIDA ALAM SAMIA

131-17-011 AYESHA TABASSUM

131-17-001 MD. RAHAT RAHMAN

131-17-037 S.M.MOSADDAK FAISAL

131-17-065 KOMAIL ALI RAFI

ABSTRACT

The following paper demonstrates 20 emerging technologies introduced by the fourth industrial

revolution and the impacts of these technologies on business aspects. The fourth industrial

revolution, also known as Industry 4.0, is marked by the integration of innovation into each angle

of a business. Emerging technology is a term generally used to describe a new technology, but it

may also refer to the continuing development of existing technology; it can have a slightly

different meaning when used in different areas, such as media, business, science, or education. In

order to achieve production excellence, manufacturers in today's market aspire to obtain business

intelligence through the collection, analysis, and exchange of data across all essential functional

areas. Emerging technologies such as Artificial intelligence and machine learning, augmented

reality, big data, enterprise metaverse, edge computing, nanotechnology, and robotic automation

process– have made business growth, minimized infrastructure investments, improved resiliency,

increased revenue stream, and better customer experience. Given its popularity, more focus is

needed to implement business activities better.

Keywords: fourth industrial revolution, artificial intelligence, augmented reality, enterprise

metaverse, infrastructure investments.

INTRODUCTION:

WHAT DO YOU MEAN BY EMERGING TECHNOLOGY?

Emerging technologies have yet to be developed, commercialized, or both. While these

technologies are generally new, they also include older technologies that are finding new

applications. As technology advances, people’s lives become more accessible. People are getting

comfortable with the use of technology due to the use of technology, due to which the

responsibilities of those concerned are increasing day by day. However, one of the biggest

responsibilities is the security of users’ personal information. However, it is high time we

discussed the innovation of emerging technologies. AI, Datafication, blockchain, big data,

Robotics Automation Processes, etc. Now digital technologies have created new opportunities

while creating new legal challenges, especially in relation to copyrights, trademarks, patents,

royalties, and licenses. For example, new digital communication technologies and media

development have created new problems related to digital reproduction and the distribution of

copyrighted works. The federal government affected industries and public interest groups that

have taken steps to provide appropriate safeguards and legal certainty to copyright owners,

digital technology companies, the public, and the stakeholders. In conclusion, we can say that

technology has become an integral part of our society. Without technological advances, many of

our daily lives would have changed dramatically. With technological advances, we are trying to

meet the needs of a changing society.

2. EMERGING TECHNOLOGIES:-

2.1: Artificial Intelligence And Machine Learning

Artificial intelligence is the system that leverages computers and machines to imitate the
problem-solving and decision-making capabilities of the human intellect (Kole, 2020). Machine
learning is a branch of AI and computer science that uses data and algorithms to imitate how
humans learn, gradually improving its accuracy (Artificial Intelligence Vs. Machine Learning,
n.d.).
Increase productivity and operational efficiencies. Make speedier commerce choices based on
yields from cognitive innovations to avoid mistakes and human error, provided that AI systems
are set up correctly (How Artificial Intelligence Is Transforming Business -
Businessnewsdaily.com, n.d.). Machine Learning can deliver benefits such as discovering
patterns and correlations, improving customer segmentation and targeting, and ultimately
increasing a business's revenue, growth, and market position.
The connection between artificial intelligence and machine learning offers powerful benefits for
companies in every industry, with new possibilities emerging constantly (What Is Artificial
Intelligence (AI)?, 2020).Ai and ML (What Is Machine Learning? 2020) enable companies to
discover valuable insights into a broader range of structured and unstructured data sources.

2.2: Robotic Process Automation

Robotic process automation (RPA) is a software technology that makes it easy to build, deploy,
and manage software robots that emulate human actions interacting with digital systems and
software (Losing Paradise, 2012)
RPA allows organizations to reduce staffing costs and human error (Losing Paradise, 2012)r.
Utilizing RPA devices, a company can design a program, or a "robot," to capture and decipher
applications for preparing an exchange, controlling information, activating reactions, proactive
risk management and security (Olavsrud & Boulton, 2022) and communicating with other digital
systems.

2.3: Cryptocurrency And Bitcoins

Bitcoin (BTC) is a cryptocurrency, virtual cash outlined to act as cash and a shape of installment
exterior the control of any one individual (Businesses - Bitcoin, n.d.), group, or entity, thus
removing the need for third-party involvement in financial transactions. (The Business Benefit of
Using Cryptocurrency, n.d.)
An expanding number of companies around the world are utilizing bitcoin and other
computerized resources for various investment, operational, and transactional purposes. Crypto
gives a new road for improving more conventional Treasury exercises, such as Empowering
straightforward (Hooray, 2022). real-time and secure cash exchanges, Making a difference
fortifying control over the capital of the undertaking Overseeing the dangers and openings of
locks in computerized speculations. (Robotic Process Automation for Financial Processes, n.d.)

2.4: WIFI 6th And 5G

Both 5G and Wi-Fi 6 are complementary technologies that provide higher speeds, lower latency,
and increased capacity over their predecessors. (What Is WiFi 6? (802.11ax), n.d.)
Businesses will benefit from what 5G and WiFi 6 offer to a (Henry, 2019) range of industries and
a broader array of applications, from media, transportation and healthcare to agriculture,
manufacturing, and logistics. 5G and WiFi 6 offer the best connectivity for industrial use and
consumers. (Brenner, 2020)

2.5: Edge computing

In edge computing, client data is handled as close as possible to the initial source in dispersed
information innovation (IT).
As we know, technology is advancing rapidly, which is an incomparable contribution to its
continuity. Edge computing harnesses growing in-device computing capability to provide deep
insights and predictive analysis in near-real time. (IBM) (The Verge)
applications and Internet of Things (IoT) devices put data at the centerpiece of every business
transaction. (Okeke) According to MarketWatch, the worldwide edge computing market is
expected to reach nearly $22.5 billion by 2024. (Rauch) Organizations can often have thousands
of edge devices across their architecture, all of which can be managed from a centralized
location. (edge computing in business), So it is safe to say that this technology will significantly
contribute to every aspect of our life, especially in facilitating information sharing; its
contribution is undeniable.

2.6: Enterprise Metaverse

Enterprise Metsveras is an advanced and frequently immersive environment that duplicates and
interfaces each perspective of an organization to optimize encounters and choice-making.
The definition of the metaverse is the gradual convergence of the digital world with the physical
world. In this world, we no longer notice a distinction between our digital avatars and our
physical selves. (Roach) Combining advanced technologies like Augmented Reality (AR),
Virtual Reality (VR), Blockchain, Artificial Intelligence (AI), NFTs, and others. (“Enterprise
Metaverse: A Metaverse for Businesses”). (Sharma).While Facebook, sorry, Meta, brought the
metaverse to light, they neither coined the term nor created the very phenomenon. Let us discuss
the metaverse, the business opportunities it presents, and why you should be aware of this new
tech trend as an entrepreneur. (Dumyak). It is easy to say that this technology will make an
incomparable contribution to the future development of our Internet world.
2.7: Block Chain

Blockchain is a shared, stoical ledger for recording transactions, following resources, and
building belief.
A blockchain is a distributed database or ledger that is shared among the nodes of a computer
network. As a database, a blockchain stores information electronically in a digital format.
(“Blockchain Facts: What Is It, How It Works, and How It Can Be Used”). Blockchain allows for
the permanent, immutable, and transparent recording of data and transactions. This, in turn,
makes it possible to exchange anything that has value, whether a physical item or something less
tangible. (“What is blockchain?”). Using blockchain, businesses could quickly pinpoint
inefficiencies within their supply chains, locate real-time, and see how products perform from a
quality-control perspective as they travel from manufacturers to retailers. (“What Is Blockchain
and How Does It Work?”). Blockchain is ideal for delivering that information because it provides
immediate, shared, and completely transparent information stored on an immutable ledger that
can be accessed only by permission network members. (“What is Blockchain Technology? - IBM
Blockchain”).Blockchain is an up-and-coming and revolutionary technology because it helps
reduce security risks, stamp out fraud and bring transparency in a scalable way. (Daley). At the
end of the session, we can say that blockchain is making an undeniable contribution to
information sharing and data compatibility.

2.8: DataFication

Datafication is a mechanical drift that points to converting most angles of commerce into
quantifiable information that can be followed, observed, and analyzed.(“datafication in modern
time”). It was popularised by Mayer-Schoenberger and Cukier's (2013) early descriptions of
"big data", and is now used by researchers to describe how digital interactions are being turned
into records that can be collected, processed, and finally - sold. (“Datafication: Concept,
Definition & Examples”).Datafication is not only about collecting and analyzing data but also
about transforming our everyday life by making them more efficient, effective, intelligent, and
enjoyable. (“What is datafication and why it is the future of business”). In 2022, new and popular
terms in the tech and security space have included the metaverse, tailgating, and Web3. Other
terms are seeing a resurgence, including the word “datafication.” (“explore the next era”).

2.9: Virtual Reality

Virtual reality is a simulated 3D environment that enables users to explore and interact with
virtual surroundings in a way that approximates reality as it is perceived through the users'
senses. ( Sheldon,03 Aug 2022)
Virtual reality can be used in Professional training to enhance professional skills, which is quite
tough and requires rigorous procedures. As well as training process might put workers in danger.
It has been commonly used in designing products and Manufacturing procedures.It has also
reduced the distance and business communication gap in virtual business meetings.VR
Technology also facilitates the opportunity to set up virtual stores offering much scope to stay
ahead of the market competitor.(clearbrigde.com)
Virtual reality has much potential to conquer all business sectors, including Finance, Marketing,
Production, Human Resources management, and more.
2.10 : Augmented reality
Augmented reality is the accumulation of text audio graphics, pictures, and other virtual
enhancements that provide real-time uses of information integrated with a real-world object.
In the business field, augmented reality provides immense facilities, including enhancing
customers’ confidence about the quality of products and deciding whether to buy them or not.AR
usage dramatically affects customer engagement, customer behavior, and sales in online
settings.(Journal of Marketing). Using AR’s ability to transform static images into
three-dimensional objects, Entertainment companies like MARVEL and DC offer amazing
movies.
To meet customers’ volatile demands, augmented reality is an effective way. Brands are also
interested in augmented reality as it’s quite helpful to increase brand loyalty and awareness.
2.11: Cobots and Robots
Important components of the industrial and manufacturing sector.Cobots, an abbreviation of
collaborative laboratory robots, is an emerging invention of the 21st century. This invention is
responsible for interaction with human workers.Cobots interact with people by producing
software known as “virtual surfaces “to guide the motion of the shared payload.Cobots are
low-cost, flexible, standard robots that conveniently operate in the human environment.(Pushkin.
M. and Colgate J.E 1999)Monotonous, repetitive, and risky tasks can be accomplished through
cobots that help to enhance job satisfaction and provides ample opportunity to focus on creative
tasks(www.cobots.gr). An internal control system or an external control device can direct a
robot. utility than on expressive aesthetics.(www.wikipedia.com)
2.12: Stimulation technology
Strong technique for analyzing machine interactions and improving production processes is
simulation. Thus, a key component of simulation in Industry 4.0 contexts is the wide range of
applications that autonomous machines and robotics bring.
Stimulation technology is widely used in manufacturing planning, managing factory activities,
and purchasing planning.
2.13: ADDITIVE MANUFACTURING

One of the 4th industrial revolution's burgeoning technologies for unit production and
prototyping is additive manufacturing. Christopher (undated). Because of the advantages of this
technology, producers may make complicated parts with fewer lead times, cheaper energy costs,
and lower research expenses. (Prashar, Vasudev, Buddhi,2022).
3D printing is commonly referred to as "additive manufacturing," and this technology is
currently seeing tremendous growth as a result of businesses' emphasis on making substantial
investments in their understanding and capacity of additive manufacturing (The Role of 3D
Printers in the Industry 4.0 Digital Transformation., n.d.). This technology also enables the
simplification of production Processes that helps in performing business activities. (Additive
Manufacturing in Industry 4.0, 2020) The main benefits of additive manufacturing are the
freedom of design, mass customization, waste minimization, and the ability to fabricate complex
structures. (Additive Manufacturing at Industry 4.0: A Review, n.d.)
It has decreased the need for high-priced instruments, post-processing, material waste, and
human intervention and has a bright future.( H, 2021). the World Economic Forum has
forecasted that in order to benefit from its applications properly, maximize productivity benefits
and achieve the desired economic and societal impact (Additive Manufacturing: Forerunner of
the Fourth Industrial Revolution?, 2019)

2.14 : BIG DATA

Big data refers to the vast amounts of data generated by organizations and individuals daily. This
data can come from various sources such as social media, internet of things (IoT) devices, and
customer interactions. (Segal, 2022) This data's sheer volume, velocity, and variety make it
challenging to analyze and utilize. The interconnection between systems and computers and the
ability to analyze large amounts of data have made possible the existence of intelligent machines
that can make informed decisions without any human involvement. (Nexusintegra, 2020)
The impact of big data on business is not limited to improved decision-making. It also can
transform entire industries, create new business models, and increase competitiveness and
efficiency. This can give them a competitive edge over their rivals and help them grow their
market share. Big data will significantly change the future because we can likely make good
decisions based on vast data without knowing the causality. (Losing Paradise, 2012)
The scope of sensor-generated data can help reveal the latent tendencies of consumers, allowing
for both the management of the present situation and the forecasting of the future. (Nguyen,
2022)
Big data enables firms to determine which items to market to whom and how to advertise them
to inform customers in proactive and appealing ways. (Sydorenko, 2021)
Trade is transitioning to a new understanding: from buying low and selling high to recognizing
how external variables impact even the smallest of transactions. Prices are influenced by social,
economic, and political aspects (CFI, 2022).
An American IT research and consultant company, Big Data, IoT, and AI markets are predicted
to grow at 15% per annum, much higher than the stagnant developed countries' economic growth
rate (Oguro, n.d.)

2.15: AUTONOMOUS VEHICLE

An autonomous vehicle is one of the breakthrough innovations of the 4th industrial revolution.
(Faith, 2019)Autonomous and connected vehicle demonstrates the primary connection between
the digital and real world, which is at the center of industry 4.0. (Hoffman, 2022). Its power to
modernize and automate services has severely impacted the manufacturing industry.(Alessandra,
Pieroni & Scarpato, Noemi & Brilli, Marco. 2018).
Industry 4.0 is driven by various products and makes our lives easier, and results in an increased
array of inanimate objects becoming smart. (Fast Data: The Engine That Drives the Fourth
Industrial Revolution, n.d.)Massively distributed manufacturing is used in the shipping or
transportation of huge factories. (Zuti, n.d.)This work has become easier as autonomous vehicles
allow a manufacturing facility an assembly line robotic-like conveyance system that moves
in-process items around, and no human hand is involved. (YouTube, n.d.)

2.16: Low Code

Low/No-Code Development Platforms allow individuals to develop new apps graphically, which
quickens development by granting organizations the opportunity to immediately prototype and
test out new client requirements (Yan, 2021, #). According to John Rymer of Forrester, low code
speeds up software development up to ten times faster than conventional techniques.
low-code development enables more apps to be produced in less time. Every organization's
growth and customer experience journey is centered on its digital strategy. Creating and
efficiently delivering software applications to support the digital vision enable this strategy
(Kulkarni, 2021, #). The low-code trend's strength gives rise to several other exciting research
opportunities at the core of our field and its intersections with other fields. The possibility that
conceptual modeling will reemerge due to the focus on low-code platforms is a particularly
significant potential (C. Bock, 2021, #).

2.17:Internet of Things
The Internet of Things (IoT) is a new paradigm that makes it possible for technological gadgets
and sensors to communicate with one another over the internet to make our lives easier. IoT uses
intelligent devices and the internet to provide innovative solutions to a range of problems and
difficulties affecting various economic, governmental, and public/private sectors worldwide
(Kumar et al., 2019, #).
Through the Internet of Things, It is possible to track patient health indicators, locate objects and
cargo during transportation, check on the condition of structures, and other things because of the
sensors that are incorporated into objects and the many technologies that ensure communication
among objects (Angelova et al., 2017, #).
Device connectivity and quick communication boost productivity and efficiency by reducing
response times and human work. Almost every business will be able to automate as a result, with
major applications in the healthcare industry, home automation, utility control, traffic
management, and ultimately a Smart City (Chan, 2015, #).Although the idea may have been
brewing in the business for some time, it has now become firmly entrenched because of the
democratization of computer technology made possible by the accessibility and affordability of
small computing devices (Ismail, 2017).

2.18 : Nanotechnology
The study and manipulation of matter at the nanoscale is the focus of nanotechnology.
Dimensions between one and one hundred nanometers are the subject of the so-called nanoscale.
One billionth (10-9) of a meter is a nanometer, an incredibly tiny unit of length. A nanometer's
(nm) size is how tiny? 80,000–100,000 nm is the width of a single human hair
(Thiessen, 2022).
Scientific research in the multidisciplinary subject of nanotechnology is exploding, and it has
touched practically every facet of the industry, from drugs to machines. Industries and
pharmaceutical firms are becoming so enamored with this technology that nanotechnology-based
goods' short- and long-term effects are receiving less consideration (Gaga & Cooper, 2022).
Food, medicine, better air quality, cleaner water, electronics, fuel cells, solar cells, batteries,
space travel, chemical sensors, sporting goods, fabrics, cleaning products, energy, the
environment, health, and a longer life span are all effected by nanotechnology (Aithal, 2022).
Nanotechnology has permeated every aspect of modern life over the last 10 to 15 years. The food
industry, pharmacology, medicine, and cosmetics are just a few of the industries that use
nanoparticles. They are also found in many commonly used dietary supplements, hygiene
products, and packaging materials (Safder, 2022).
2.19: Social Outreach App
The process of leveraging social networks like Facebook, Twitter, and LinkedIn to spread the
word about your brand, and your content or to forge new connections is known as social media
outreach (Jackson, 2016).
Over 2.8 billion individuals use social media platforms worldwide, according to a Business
Insider report, to connect with a variety of people and share their stories (Soni, 2018). It is
impossible to find a brand that is not involved in social media in some capacity. A social media
presence can help businesses in the retail, food, entertainment, and real estate sectors, to name a
few. Brands are using social media to help their lead generation and commercial objectives, but
the beauty of social media is that it serves a variety of functions (Kenan, 2022).
The typical marketing strategy targets a specific audience but does not apply to social network
marketing. Age, gender, and social standing are all eliminated as barriers between groups. It is
the most effective way to swiftly and effectively reach an audience (Abbott, 2021).

2.20: Anti ad blocking

Ads are used to promote and advertise a product, but sometimes continuous ads irritate the
consumer and result in the increased use of ad-blocking apps. (Marshall, 2016). Anti-ad and ad
blocks are now becoming industrial norms to eliminate the rapid consumption of ad-blocking
software. (Anti-Adblock: How to Recover Lost Revenue Due to Adblockers, 2021)
These tools enable website owners to show ads to the consumer’s device despite their using
ad-blocking software. (Rycroft, 2022) It can display the popup request to the people to disable
adblockers and allow the website owners to display their ads. (Rycroft, 2022)
Anti-ad blocking is used to recover the lost revenue due to ad blockers (Don,2021). This
emerging tool uses technology to bypass ad blockers and adheres to acceptable ad standards.
(What Is An Anti-Ad Blocker? n.d.) . The rise of anti-ad blocking allows for counteracting the
effects of ad blocking. (Marshall, 2016)

CONCLUSION

4th industrial revolution has brought down the previous era of rigorous, physically hard labor,
and developed easier, faster, and more effective communication, manufacturing procedures,
stock management, Human relationship, an effective working environment, more productivity,
reduced cost, and profitability in the long run.
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