Understanding the 4.0 Industrial Revolution Impacts on How Students Aware of Opportunities and Challenges
- May 9, 2020
- Posted by: RSIS
- Categories: Economics, IJRSI
International Journal of Research and Scientific Innovation (IJRSI) | Volume VII, Issue IV, April 2020 | ISSN 2321–2705
Nguyen Quoc Nghi*, Le Thi Dieu Hien
College of Economics, Can Tho University
*Corresponding author
Abstract – The study was conducted to assess the impact of understanding the 4.0 industrial revolution on students’ perception of opportunities and challenges. The research data were collected from a survey of 416 students studying at universities in Vietnam. Applying Structural Equation Modeling (SEM), the results showed that understanding about the 4.0 industrial revolution positively affects students’ awareness of opportunities and challenges, in which students perceived the impact of challenges is higher than opportunities. Finally, the study proposed some recommendations to enhance students’ understanding and awareness of the 4.0 industrial revolution.
Keywords: 4.0 industrial revolution, understanding, awareness, opportunities, challenges.
I. INTRODUCTION
In 2011, the definition of “industry 4.0” was first introduced at the Hannover Industrial Fair in the Federal Republic of Germany. The appearance of industry 4.0 in Germany has urged developed countries around the world to promote similar programs to maintain competitive advantages. The 4.0 industrial revolution has shown a combination of different technologies in the fields of physics, biology, and digital technology.It creates entirely new possibilities in the economic, political, and social systems. Artificial intelligence has brought plenty of achievements such as automated machines,autonomous vehicles, 3-dimensional printing (3D printing), nanotechnology, biotechnology, etc.It can be said that the 4.0 industrial revolution brings difficulties and challenges for developing countries, including Vietnam. As a developing country, Vietnam has the advantage of a young and abundant manual labor resource. However, the pressure of industry 4.0 has turned this advantage into potential risks for the young Vietnamese workforce in the future. Therefore, human resources must improve themselves including broadening knowledge and accessing new technology to avoid being eliminated from the competitive labor market.
