Future belongs to fourth industrial revolution

MUSCAT, FEB 26 – The future of Oman’s industrial sector lies in 4th Industrial Revolution (4IR), according to experts. Oman’s manufacturing sector will be propelled into a whole new era by technologies such as Artificial Intelligence, 3D printing, machine learning, big data analysis, real-time data collection, supply chain robots to delivery drones that are part of the Fourth Industrial Revolution (4IR) which is currently under way. Speaking to the Observer on the sidelines of the first session of ‘Inside Stories’, a series of four informal, highly-interactive evening discussions organised by Ithraa, Oman’s inward investment and export development agency, held at the Public Authority for Civil Aviation (PACA), His Highnes Sayyid Dr Adham al Said, Chairman, Mubadala Investments, said.
“The world is moving faster than we can presume and unless we go faster, we will be left behind. Be it any sector, be it healthcare, personal, business, or any, they should be technologically upgraded in tune with the 4th Industrial Revolution and remember, it’s not a luxury but a necessity to sustain in business”, adds Dr Adam, who is also the CEO and founder of ‘The Firm’ and moderator of the meeting. Omani manufacturers are talking about the Fourth Industrial Revolution (4IR) and how the use of new technologies such as sensors, robotics and data analytics are impacting efficiency, improving product design, changing customer relationships, boosting competitiveness as well as increasing the sultanate’s exports.
He further noted that things will be cheap and major expenses like the cost of production will drastically reduce favouring the small and medium scale enterprises in the long run. These disruptive technologies of 4th Industrial Revolution are fundamentally breaking down systems, forcing companies across multiple sectors to rethink how they conduct business and affecting the way the majority of us go about our lives, work and learn.
“The 4th Industrial Revolution is already taking place across the sectors and industries should change their focus to this. However, we don’t expect a paradigm shift overnight”, says Dr Abdullah al Mahrouqi, CEO, the Industrial Innovation centre.
“The opportunities are clear, and despite the uncertainty, we firmly believe this is a very exciting time for Oman’s manufacturing and export community if they can make use the advantages of 4IR, their plans of further growth can be achieved as the economic gains from harnessing 4IR are significant”, a representative from Ithra said.
Titled ‘Export & The Fourth Industrial Revolution’ Inside Stories is gathering space, bringing together some of the sultanate’s most inspirational and innovative business people, scientists, educators, manufacturers, healthcare professionals, civil servants, urban planners and environmentalists to share their stories.