Pandemic - path towards the Fourth Industrial Revolution?
The coronavirus pandemic will accelerate the Fourth Industrial Revolution, since it will lead to the digitalization of economies, leading economist of the World Economic Forum (WEF) Roberto Crotti predicted.
At the same time, according to him, these processes may occur separately. "Trade is expected to decline, although it´s not clear how long this effect will last along with the displacement of people, while the production and sales chains are likely to be reformatted," he told RIA Novosti.
At the same time, Crotti expressed doubt that in the context of the spread of a new type of coronavirus infection, more than half of the global companies will be able to fully switch to remote work, mostly due to the fact that some of them cannot be digitalized at all, while other companies have delays in the further development of a flexible organization.
Overall, speaking about the impact of this pandemic on the global economy, expert pointed out that a lot will depend on specialization of a particular state. Those countries that have a large number of enterprises operating in non-digital sectors will naturally suffer, however, they losses can be compensated by productivity growth.