Abstract

Business enterprises are now operating in the fourth industrial revolution or Industry 4.0. As described by Professor Klaus Schwab [1], Industry 4.0 has introduced a range of new technologies that are combining the physical, digital, and biological domains. Schwab [1] suggests that the current industrial revolution affects all disciplines, economies, and industries. Advancements in technology, such as cyber-physical systems, artificial intelligence (AI), and the Internet of Things, can yield positive benefits for businesses and society. Marr [2] for example, advocates that these technologies can connect billions of more people to the web, significantly improve the efficiency of business organizations, and help regenerate the natural environment through better asset management.