Industry 4.0: Reimagining the Future of Workplace (Five Business Case Applications of Artificial Intelligence, Machine Learning, Robots, Virtual Reality in Five Different Industries)

Abstract

Artificial Intelligence (AI), Machine Learning (ML) and Cognitive Computing will directly have a tremendous impact on jobs in various industries as we are embarking on 4th Industrial revolution (Industry 4.0) of automation through robotics. If you are looking or imagining for inconceivable things which we typically read in science fiction novel(s) or when we experience(d) in movies like “The Matrix”, “Moon”, ”Existenz” etc., to your individual life or in workplace then currently there is no other better option than Artificial Intelligence (AI). Today, Artificial Intelligence (AI) has got the uncanny knack to astonish, mesmerize and sometimes even frighten us with its incomparable capabilities in our lives or in the workplace. Digitalization in organizations is already there for decades but digital revolution is still only just the beginning. Digital technologies like Internet of Things, Artificial Intelligence and Machine Learning (sub-set of Artificial Intelligence) are drastically changing the ways the employees and customers communicate and operate in the organizations. Undoubtedly, digitalization brings enormous changes in the lives of individuals and organizations as well. Few years ago, humans tend to be the masters of technological innovation however that scenario has changed drastically. Business models that sustained for over 1oo years are not any more capable enough to attract customers. Today, many of the organizations are using Artificial Intelligence empowered capabilities like Robots, Chatbots, Virtual Reality and various other forms of artificial intelligence to enrich the overall experience in the workplace and five real-time business case applications are explained in this research paper with the help of organizations like Tianyuan Garments, Amazon, Nike, Chevron and Xinhua.

Keywords: Industry 4.0, Artificial Intelligence, Machine Learning, Robots, Virtual Reality, Future of Workplace