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Now prepare for the 5th Industrial Revolution

With technology advancing at an exponential rate, we stand on the brink of the Fifth Industrial Revolution and if business leaders aren’t adapting how they work, they risk getting left behind, writes STUART SCANLON, Managing Director at epic ERP.

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Karl Benz changed the world when he invented the first practical automobile that was powered by an internal combustion engine. Fast forward 130 years and self-driving cars are now a reality. With technology advancing at an exponential rate, we stand on the brink of the Fifth Industrial Revolution and if business leaders aren’t adapting how they work, they risk getting left behind. 

To put it into perspective, the First Industrial Revolution occurred roughly between 1760 and 1850 – lasting 90 years, while the second took place between 1870 and 1914 – lasting 44 years. The third is somewhere between 1969 and 2000 – covering approximately 31 years, and the fourth is currently underway. What’s consistent in all of these is the impact on people’s way of life and that the evolution of technology is speeding up. 

When it comes to Industry 5.0, there’s uncertainty about what it will bring and how it will disrupt business. What we do know is that it’s going to break down barriers between the real world and the virtual one. New technologies are going to be more sophisticated than anything we have experienced before, and they are going to be faster, more scalable and adopted globally. 

Augmented and virtual reality, big data, artificial intelligence and the most revolutionary of Industry 5.0 technologies – cryptocurrency. In the not-so-distant future we can expect cashless economies where cryptocurrencies are accepted around the world, and where everything is sold through e-commerce transactions. The Internet of Things is on the rise, as is blockchain technology, and while artificial intelligence will cause job losses, more efficient processes will drastically increase productivity.

The changes that are coming with the Fifth Industrial Revolution will affect how organisations operate, which is why business leaders need to prepare for tomorrow. To remain competitive, they will have to move away from how they have traditionally operated and they must embrace fresh ideas, new thinking and, of course, unfamiliar technology.

“When new technology from the next revolution becomes entrenched, we’re going to be conducting business in different ways,” says Stuart Scanlon, managing director for epic ERP, the official Southern African distribution partner for Epicor Software Corporation, a global provider of industry-specific enterprise software to promote business growth. “Current systems won’t be able to handle the expected increase in productivity, which is why business leaders need to become early adopters of technology, to stay ahead of the changes.”

For an organisation to future-proof its business, it needs software that can support the unknown, together with agile infrastructure, so it’s better set up to adjust its services, products and procedures. To manage productivity and achieve success, the business will need to be flexible and run lean. 

“People have different opinions when it comes to predicting the start of Industry 5.0 but, if you consider the speed of transformation in technology, I believe it’s going to be here far sooner than most people think. The future is happening now and we need to rise to the challenges if we are to thrive in the next revolution,” says Scanlon.

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Notre Dame, Scoop Makhathini, GoT, top week in search

From fire disaster to social media disaster, the top Google searches this week covered a wide gamut of themes.

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Paris and the whole world looked on in shock as the 856-year-old medieval Catholic cathedral crumbled into ash. The tragic infernal destruction of this tourist attraction of historical and religious significance led South Africans to generate more than 200 000 search queries for “Notre Dame Cathedral” on Monday. Authorities are investigating the cause of the fire that razed the architectural icon.

In other top trending searches on Google this week, radio presenter Siyabonga Ngwekazi, AKA Scoop Makhathini, went viral when it appeared he had taken to Twitter to expose his girlfriend, Akhona Carpede, for cheating on him. Scoop has since come out to say that he was not responsible for the bitter rant and that his account was hacked. “Scoop Makhathini” generated more than 20 000 search queries on Wednesday.

Fans generated more than 20 000 search queries for “Sam Smith” on Tuesday ahead of the the British superstar’s Cape Town performance at the Grand West Casino. Smith ended up cutting his performance short that night due to vocal strain.

Local Game of Thrones superfans were beside themselves on Sunday, searching the internet high and low for the first episode of the American fantasy drama’s eighth season. “Game of Thrones, season 8, episode 1” generated more than 100 000 queries on Google Search on the weekend.

As the festivities kicked off in California with headliners such as Childish Gambino and Ariana Grande, South Africans generated more than 2 000 search queries for “Coachella” on Saturday.

South Africans generated more than 5 000 search queries for “Wendy Williams” on Friday  as it emerged that the American talk show host had filed for divorce from her husband Kevin Hunter after 21 years of marriage. Hunter has long been rumored to have been cheating on Williams, which reportedly finally led to the divorce.

Search trends information is gleaned from data collated by Google based on what South Africans have been searching for and asking Google. Google processes more than 40 000 search queries every second. This translates to more than a billion searches per day and 1.2 trillion searches per year worldwide. Live Google search trends data is available at https://www.google.co.za/trends/hottrends#pn=p40

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5G smartphones to hit 5M sales in 2019

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According to the latest research from Strategy Analytics, global smartphone shipments will reach a modest 5 million units in 2019. Early 5G smartphone models will be expensive and available in limited volumes. Samsung, LG and Huawei will be the early 5G smartphone leaders this year, followed by Apple next year.

Ken Hyers, Director at Strategy Analytics, said, “We forecast global 5G smartphone shipments will reach a modest 5 million units in 2019. Less than 1 percent of all smartphones shipped worldwide will be 5G-enabled this year. Global 5G smartphone shipments are tiny for now, due to expensive device pricing, component bottlenecks, and restricted availability of active 5G networks.”

Ville Petteri-Ukonaho, senior analyst at Strategy Analytics, added, “Samsung will be the early 5G smartphone leader in the first half of 2019, due to initial launches across South Korea and the United States. We predict LG, Huawei, Xiaomi, Motorola and others will follow later in the year, followed by Apple iPhone with its first 5G model during the second half of 2020. The iPhone looks set to be at least a year behind Samsung in the 5G smartphone race and Apple must be careful not to fall too far behind.”

Neil Mawston, executive director at Strategy Analytics, added, “The short-term outlook for 5G smartphones is weak, but the long-term opportunity remains huge. We forecast 1 billion 5G smartphones to ship worldwide per year by 2025. The introduction of 5G networks, by carriers like Verizon or China Mobile, opens up high-speed, ultra-low-latency services such as 8K video, streaming games, and augmented reality for business. The next big question for the mobile industry is how much extra consumers are really willing to pay, if anything, for those emerging 5G smartphones and services.”

Strategy Analytics provides a snapshot analyses for the outlook for 5G smartphone market in this Insight report: 5G Smartphones : From Zero to a Billion

Strategy Analytics provides a deep-dive into the air-interface technologies that will power phones through 2024 across 88 countries here: Global Handset Sales Forecast by 88 Countries and 19 Technologies : 2003 to 2024

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