IILM University Gurugram Organizes International Conference on ‘Industry 4.0 and the Future of Work’ There isn’t an iota of doubt that humanity continues to embark on a period of unparalleled technological advancement. The next 20 years will present both significant challenges and opportunities. Private sectors, governments, academics and entrepreneurs are all seeking the roadmap for navigating these profound changes in the world of work. Such a road map must be created collaboratively by all stakeholders. One of the most immediate and impactful outcomes of
Lamplighting by the guests at the Inaugural Session
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technological evolution is the vast advancement in automation. Every day, more manual processes become automated, and as technology continues to accelerate, so will automation. The advancement of digital technologies has put firms in the face of an anticipated change in paradigms and approaches to management. Over the decade, the Fourth Industrial Revolution has attracted attention from all around the globe. The new technological trends, the advent of Industry 4.0 and the Internet of things (IoT), make it essential to reflect on corporate and business strategies and their effectiveness with respect to the new technological development. Businesses need to define new strategies, implementation modalities, different methods and tools to triumph in this new global scenario. Industrial automation, connection and aggregation of different data in corporate information systems are phenomena that need to be studied in-depth to make them contribute to the new business strategy bringing concrete benefits. As a result of these developments, the world of work and labor market demand are swiftly
changing. According to McKinsey, upto 375 million workers may need to change their occupational category by 2030, and digital work could contribute $2.7 trillion to global GDP by 2025. Faced with the scale of the unstoppable shifts in workforce demands, there is a need to address the challenges associated with workforce transformation, starting by taking an in-depth look at its impact on the world of work. Against this backdrop, a two-day International Conference was organized by IILM University Gurugram on the theme, Industry 4.0 and the Future of Work during December 6-7, 2019. Research papers and cases were invited from industry practitioners, government sector, faculty members, research scholars, students and all interested professionals. The Conference saw a plethora of eminent guests, speakers and industry stalwarts gracing the occasion and sharing their views on the contemporary theme The Inaugural Session The conference started with the Inaugural Session. The Chief Guest, Dr Ashutosh Karnatak, Chairman and Managing Director, GAIL India Ltd. gave insights on the changes brought by Industry 4.0. He introduced the basic meaning of ‘Revolution’ and how Industry 4.0 brought about a change in the mindset of the people. According to him, companies and universities need to work together so that students can know what they should do. Constant innovation, a need for digital orientation, energy transformation and digital transformation is the need of the hour. He motivated students to stay focussed on three things – Self, Organization and Society. He encouraged students to implement the success formula: goal setting, dynamics, positive attitude, self-belief and directional efforts. He also spoke about the role of positivity and an action-oriented approach. Guest of Honour, Mr Sachin Gupta, President & Chief Information and Innovation Officer at Usha shared his principles of life, which he said helped him to stay attuned with the fast-paced technological advancements and helped him to gear up for the future. He urged students to focus and concentrate to create a path for their goals; move on even in case of a failure; think and plan
