Innovation and Digitalisation

Since the beginning of this decade, we have been experiencing an accelerating digital transformation that is undergoing significant changes in every area of ​​society and economy and has turned into a fundamental driver of business and innovation.
Particularly in connection with the digital transformation of the industrial market, the industrial transformation, the term „Industry 4.0“ seems to be omnipresent.
What exactly is meant by the fourth industrial revolution and what changes are to be expected?
Western civilization has already witnessed three industrial revolutions leading through disruption to an increase of efficiency and productivity in industrial processes.
This began with the invention of the steam engine and the resulting knowledge to utilize hydropower in the development of machine tools. The second industrial revolution brought us electricity and with assembly lines the mass production. Electronics and IT drove the recent major development leap. The fourth industrial revolution is already on the threshold, to transform the world into a large information system. Intelligent machines are integrated into the information network and hyper-connectedness, as well as data analysis enable automation and optimization in entirely new ways.
The growing network is evolving almost “evolutionary“ in both small and gigantic steps, making it seem like there is no going back.
This panel aims to uncover the opportunities and also threats of the imminent fourth industrial revolution, the collaboration between humans and machines and the paradigm shift which will drive future business and society.
It will be discussed whether this revolutionary development will bring only benefits or if we precipitate into an uncertain future, whose impact we still not have fully understood. We only do know that digitalization has contributed to many recent issues we face today resulting in the following question:
How can we overcome the ominous challenges and turn them into drivers of innovation and use digital technology to improve business and better the state of the world?

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