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Transformation, Implications, and Economic Opportunities
Published online by Cambridge University Press: 08 June 2023
This chapter analyzes traditional sectors, such as manufacturing and industrialization, infrastructure and construction, oil and gas, and agriculture and agro-processing and their potential in the 4IR. Implications, challenges, and opportunities are discussed in each, as well as how new technologies will hinder or better the potential of the sector. It is discussed how growing opportunities in these sectors will help cultivate better environments for innovation. Potential harms may include the disruption of the labor market, exportations, and infrastructure gaps. In order to reduce the disruptive effects of the 4IR, governments and businesses need to work together to help build training programs, investment initiatives, and digitalization. The proper integration of new technologies can aid help in environmental regulations and productivity growth. Each section in the chapter provides opportunities and strategies to achieve success in the 4IR.
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