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The Fourth Industrial Revolution-main concepts and cases-

Author Sanghoon Kim Date 2017.05.17 Issue No

Despite growing interest and a number of discussions on the Fourth Industrial Revolution, there is some dissent among people on its backgrounds and features. In this paper, issues on the Fourth Industrial Revolution, which have been discussed on so far, are summarized as follows: Above all, the digitalization that resulted from the Fourth Industrial Revolution is expected to change not only industrial ecosystems through the automation of existing production systems, but it will also change a R&D paradigm. Second, in order to push for a success of the Fourth Industrial Revolution, close linkages and coevolution among Information Technology, acceptability, and operational technology are important. Thus, developmental strategies of OT are important to enhance the acceptability of the Fourth Industrial Revolution besides IT technology. Third, as can be seen from the overseas cases, technology to respond to the Fourth Industrial Revolution can never be developed overnight, but it is made through a long-term investment, technology development and continuously designing relevant business models. Fourth, strategies by country, concerning the Fourth Industrial Revolution differ from one another, because each country pushes for its strategies that fit in with states and national innovation systems of the country. Advanced economies besides Germany, the U.S., and China as well as other global power houses have different strategies with one another. For example, they have selective strategies on specific industries and technologies and push for strategies with global cooperation. It is also necessary that Korea considers the viewpoints mentioned above, for example, various policies and policy improvement.