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Jakarta Post

Oil, gas enabler of industrial revolution 4.0

  • Sultan Ahmed Al Jaber

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Abu Dhabi   /   Wed, December 5, 2018   /  01:17 pm
Oil, gas enabler of industrial revolution 4.0 One of the biggest concerns with Industry 4.0 is the disruption it has on the job market. McKinsey predicted that 800 million jobs would be gone by 2030 due to automation. (Shutterstock/File)

Last month, the world reached an important tipping point. For the first time in history, more than half of the world’s population is now made up of middle-class consumers. This marks a pivotal moment in human progress and is the outcome of a remarkable period of economic growth over the past 50 years. 

The fact is that prosperity is not only growing in the traditional centers, it is spreading from West to East, North to South and throughout the entire world.

Fundamental to this accelerated pace of progress are breakthrough technologies, which are driving unprecedented rates of productivity and introducing an era that has been defined as the Fourth Industrial Revolution. Just as the oil and gas industry was crucial in powering economic growth over the past half century, so this sector will remain absolutely essential to the next big leap forward in...

Disclaimer: The opinions expressed in this article are those of the author and do not reflect the official stance of The Jakarta Post.