Industrial Revolution 4.0: An Overview of Readiness and Potential Economic Effects in Malaysia from Millennial’s Perspective
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Industrial Revolution 4.0 (IR 4.0) and Internet of Things (IOT) have become subjects of much interest in recent years and are expected to gain momentum locally and internationally when they become part of the core initiative of various governments. With the advent of the 4th global industrial revolution, the government recognized the importance of integrating the IR 4.0 initiative into the national agenda as a mean to keep pace with the latest advancements. In this regard, is the Malaysian workforce ready for the change? How is this being perceive by the millennials? Are millennials familiar with internet of things, FINTECH, additive manufacturing, big data or smart manufacturing? This study attempts to investigate whether or not millennials studying at local public university are clear about IR 4.0. In addition, the study attempts to seek millennials on various issues pertaining IR4.0. A survey involving 400 students of public university in Malaysia are being undertaken. The finding of the study indicates that 90% of the respondents have heard about IR4.0. In addition, 70% expressed that they have some understanding on what is happening and expected to happen in the Fourth Industrial Revolution (IR 4.0) in general. There are also concern with regard to the potential impact of IR4.0 on unemployment and the economy.
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