Leadership 4.0: Leadership Strategies for Industry 4.0
Solid State Technology Volume: 63 Issue: 6 Publication Year: 2020
5 Pages Posted: 5 Feb 2021
Date Written: November 24, 2020
We are now breathing and living in an era of “Real Digital World” with high speed and seamless integration and application of Artificial Intelligence (AI), Robotics, Internet of Things (IoT), Virtual Reality (VR), Blockchain, Augmented Reality (AR), Machine learning into our day to day normal lives that we typically used to watch only in “Sci-Fi Reel World”. As “Digital Disruption” seamlessly flows almost in every major industry, unfortunately leadership strategies are not matching its pace. Though some of the leaders are well prepared to successfully deal with Industry 4.0 technologies, yet many leaders remain less prepared. Leaders not only need to equip themselves to retrain and reskill but also the digital talent alongside to effectively grab the opportunities and tackle the challenges of digital transformation in the era of Industry 4.0 and VUCA (Volatile, Uncertain, Complex, and Ambiguous) world. In an era of Industry 4.0, the kind of leadership strategies to be formulated and implemented simply cannot be read from books nor gleaned from power point presentations alone. Instead leaders need to follow leadership strategies which are novel and innovative in nature to reap the benefits of Industry 4.0. Otherwise, if today’s leaders are armed only with yesterday’s skills they may be recurrently incompatible to deal with both the opportunities and challenges posed by Industry 4.0. In the era of Industry 4.0, leaders should not depend solely on leadership playbooks which are relatively frozen in time and usually command and control in nature. Rather, leaders should also formulate and implement such kind of much needed strategies like rapid innovation, agility, creativity, digital societal impact, adequate investments both in talent and technology, coaching, encouraging diversity etc., thereby not only transforming themselves into digital leaders but also organizations in to digital organizations to embark in the journey of creating new history in the era of Industry 4.0.
Keywords: Leadership 4.0, Strategies, Industry 4.0, Artificial Intelligence(AI), Internet of Things (IoT), Blockchain, Big Data
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