Industrial Revolution 4.0 (IR4.0) Readiness Among Industry Players: A Systematic Literature Review
Keywords:Industrial Revolution 4.0, readiness, driving factors, inhibiting factors, self-evaluation, AI recommender system
The Fourth Industrial Revolution (IR4.0) is a digital revolution that focuses on all sectors including the service industry. IR4.0 is the inception and adoption of emerging technologies such as Artificial Intelligence (AI), Big Data Analytics, Internet of Things (IoT), Cloud Computing, Augmented Reality, Simulation, Cyber Security, Systems Integration, Additive Manufacturing, and Robotics & Autonomous Systems by organizations. Research discovered that 59% of organizations that are skilled in big data and IoT are also using AI technologies. The readiness of the industry players and their implementations of these technologies will be able to boost productivity growth through creating, adopting, and integrating technological solutions into the workforce and industries. A review of the literature reveals that industry readiness for IR4.0 particularly in Malaysia is still at a low to medium level. The objective of this paper is to conduct a systematic literature review (SLR) towards understanding the IR4.0 readiness models discussed in the literature, the factors driving and inhibiting IR4.0 readiness, and the use of self-evaluation tools for industry players to assess their own IR4.0 readiness level. The review employed six reputable online databases such as Scopus, Emerald Insight, IEEE, Springer, Web of Science, and Science Direct. After meticulous and stringent processes of filtering the articles, finally, fifty-five (55) out of originally searched 10,428 articles were selected based on the inclusion and exclusion criteria set for the study. The findings found that readiness models are commonly discussed and framed around several theories and their theoretical constructs such as Acceptance Theory, Information System (IS), Success Models, and relevant readiness and maturity theories. The following factors often play a dual role of either becoming a driving factor or at the same time, it can be an inhibiting factor depending on their adequacy level. These factors are funding, infrastructure, regulatory, skills and competency, technology, and commitment from the leadership. Based on the synthesized literature, this paper proposes the IR4.0 Readiness and Implementation Framework for industry. The framework aims to guide industry players to take a stage approach in implementing IR4.0 and move up their IR4.0 readiness levels progressively.
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