International Journal of Financial Management and Economics
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E-ISSN: 2617-9229|P-ISSN: 2617-9210
International Journal of Financial Management and Economics
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Vol. 7, Issue 2 (2024)

Industrial revolution (IR) 4.0


Jagmohan Singh and Parmod Kumar Aggarwal

Industrial Revolution (IR) is growing rapidly in the world. India is also not exception. However, the coming years are going to be the years of artificial intelligence because many business and industrial activities has already been adopted artificial intelligence in the empowered system, security system, and data analysis in the production system. Thus Industry revolution is primarily stem from artificial intelligence. It has become the main engine of transformation that is being undertaken by industrial sector of India. In India, there is a wide scope for artificial intelligence because the nation is on the way of growing business and foremost lucrative investment destination in the world. In recent past, the nation expressed more intention about technology and realizing that technology is an important component of economic development in India. There are so many industries in the industrial sector of India that are being used artificial intelligence for its mass production such as automobile, power and energy, pharmaceutical, heavy metal and machinery manufacturing industry, semiconductors and electronics, food and beverages, agriculture sector, banking sector and defense system. However, there are also so many challenges in adapting artificial intelligence in the path of industrial sector of India subject to lack of data about artificial intelligence, lack of skilled person, lack of funds, issues in data management etc.
Pages : 445-449 | 51 Views | 22 Downloads


International Journal of Financial Management and Economics
How to cite this article:
Jagmohan Singh, Parmod Kumar Aggarwal. Industrial revolution (IR) 4.0. Int J Finance Manage Econ 2024;7(2):445-449. DOI: 10.33545/26179210.2024.v7.i2.396
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