Overview of the ASEAN Consolidated Strategy on 4IR

How will the Fourth Industrial Revolution shape business in ASEAN? Read to understand more about the ASEAN Consolidated Strategy on 4IR.

September 2022 , by Noah Imson

In today’s current climate, businesses and professionals must be familiar with the latest industry and world developments. One such trend is 4IR—a term that refers to the Fourth Industrial Revolution, otherwise known as the digital revolution. The 4IR period is characterized by accelerated technological growth, which has led to the creation and use of advancements such as the Internet of Things (IoT), artificial intelligence (AI), big data, and other similar tech-driven solutions. 

These smart solutions and their adoption across several industries have fundamentally changed the way business is conducted worldwide, and Southeast Asia is no exception. 

Key Enablers of 4IR in ASEAN
In anticipation, the Association of Southeast Asian Nations (ASEAN) has collaborated with several partners, including professionals from YCP Solidiance, to create the Consolidated Strategy on the Fourth Industrial Revolution. To help prepare stakeholders for business in a digital environment, the Consolidated Strategy on 4IR covers several important aspects and nuances of the digital revolution, such as potential factors that will enable development. The following enablers for embracing 4IR in ASEAN are identified in the framework:

ASEAN 4IR Strategic Priorities
For stakeholders to thrive in the Fourth Industrial Revolution, involved parties must understand the areas in which ASEAN will prioritize progress. To fully capitalize on 4IR and the development that it will bring, the Consolidated Strategy has outlined the following areas of priority:

Overall, ASEAN is well positioned to take full advantage of 4IR as it has developed a comprehensive and collaborative framework that parties may refer to. While the transition to the digital revolution may initially be difficult for some, initiatives like ASEAN’s Consolidated Strategy will help guide holistic development for those involved within the Southeast Asian region. 

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