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Jakarta Post

Building Indonesia’s Industry 4.0: What’s really in it for us?

  • Devina Heriyanto and Norman Harsono

    The Jakarta Post

Jakarta   /   Sat, August 31 2019   /  01:52 am

Industry 4.0 is one of the newer economic terms pervading Jakarta, following other timely catchphrases like trickle-down effect in the New Order era and krismon (monetary crisis) during the 1998 Asian financial crises, all of which try to describe where the country’s economy is heading.President Joko “Jokowi” Widodo began popularizing the term Industry 4.0 to encourage the digitalization of domestic industries late last year, after which government officials, businesspeople, economists and media outlets quickly latched on to the jargon as political rhetoric for development.At its core, the Fourth Industrial Revolution — colloquially Industry 4.0 — is a term coined by German economist Klaus Schwab to describe four major technological evolutions in human history, which are the steam engine (first revolution), electricity (second), the internet (third) and the so-called internet o...