Solutions on the road towards the 4th Industrial Revolution

Innovation is key, Science is knowledge, Technology is skillful craft, and Energy is source, while Entrepreneurship creates business ideas. Wikipedia introduced the triple helix model of innovation as “a set of interactions between academia, industry and government, to foster economic and social development, as described in concepts such as the knowledge economy and knowledge society”. When goals, strategies and tactics are reevaluated for economic success at a place like the market (in whatever form), then innovations involve innovative creativity, innovative adaptability and imaginative tendencies for creation of new business plans and programmes, actualised after new trainings and updates on things like software; generated from novel initiatives. No one should lose sight of Plato’s quote on innovation, when he said that “necessity is the mother of invention”, which invariably qualifies Thomas Edison as the father of all modern innovation. Going down the memory lanes on how, when, what the evolution of industrialisation meant and its impact in the global community; the historical background and overview through the first industrial revolution, all through to the present technological third generation, they give full account on how the global community has fared economically up to this transiting stage that involves concepts such as Artificial Intelligence (AI), Block-chain and more towards the fourth industrial revolution.

In today’s modern society, the triple helix model of innovation involves every intellectually active and socially productive people of the world to contribute towards proffering solutions needed to improve life as the globe inches closer into the fourth industrial revolution. Hence the advocacy on the involvement of academia, industry and government. This is the current clarion call from within the circles of every vocational calling in all human endeavours to contribute towards making the world a better place with healthy living. In industry, businesses realise the simple fact, through the marketing of products and services, that no business shall survive or reasonably succeed by remaining competitive, if innovative ideas and ability are not introduced in our constantly changing world. Business promoters and facilitators at all levels, need to enable their business concerns succeed by the enablement of creation of new products, and improving on the existing ones, if they really mean it and wish to move their business forward (this is because they are constantly poised to challenge the status quo by thinking outside the box and taking very carefully calculated risks to drive the aspired and desired progress, in achieving breakthroughs and business success). Economically, such a concept, which involves vital elements of innovation, thus value creation, collaboration, creative ideas, and implementation, eventually resulting in increased productivity.

In academia too, moving forward, modern technology involves research from deeper studies on computer technology with the knowledge of the artificial intelligence in today’s information technological knowhow, along with the trending impact the block-chain system is already having on businesses all over the world. Block-chain comes with various records of transactions like those in crypto currency that are maintained across computers that are linked in a peer-to-peer network. The academia is hereby charged with the responsibility to carry on deeper research studies on how this initiative could favourably rub off on the positive side of the fourth industrial revolution, globally. On the aspect of the government involvement, a given economy expected to grow, needs the ruling government to responsively and effectively provide a conducive and attractive business environment through creation of a level playing ground that may attract investors to operate and contribute to the economic progress of the state. It is also the responsibility of the government to encourage investors through her monetary and fiscal policies that aid the ease of doing business with the possible attractive financial support to all legitimate, genuine and credible business organisations in accessing working capitals and bank loans from the commercial banks within the economy. The regulatory agencies and the other arms of government that have their respective primary functions to promote, control or monitor commercial activities and equally standardise the acceptable global best business practices should always be efficiently operational, liaising with academia and industry towards achieving the government’s economic goals for growth and development.

Just recently, the sub-regional government of Anambra State of Nigeria, and the Faculty of Physical Sciences of Chukwuemeka Odumegwu Ojukwu University (COOU) organised and practicalised this feat at their just concluded annual international conference and exhibitions (FAPSCON) on Wednesday the 16th of October at the Igbariam campus of the institution. Notable captains of industry actively participated as guest speakers/thought leaders at a panel (notable among them were DG/CEO of NBTI, Dr Uchenna P. Chukwu; Professor Joe Ezigbo of Falcon Corporation; Felix Ekundayo of Asiko Energy/President NLPGA; Abdul Malik Halilu of NCDMB Yenagoa; Mma Okezie of Geomarine Systems Ltd; and Engr. Dr Oluwaseyi A. Ogungbenro, Ag. DG Electronics Dev. Institute, ELDI) that spoke on the thematic areas that were directed by the moderator (Chinwe Okoli, SSA to the Governor of Anambra State on Innovation and Business Innovation).

Outside the exchange of high level thoughts at the gathering, the annual event also saw the investiture of Dr Nonye Soludo, wife of Governor Soludo, and founder of “Healthy Living Foundation”, after she presented a thought provoking speech. The acting vice chancellor of COOU, Prof Kate Azuka Omenugha; the DVC (academics)/LOC chairman, Prof Osita Igwebuike Chiaghanam; and the dean of Faculty of Physical Sciences, Prof K.K. Nwozor equally gave deep, professorial pontifications (along with the chairman of the event, Prof Charles Ofoegbu; in addition to numerous special awards given to notable Nigerians and worthy recipients. Government functionaries, including commissioner for education, Ngozi Chuma-Udeh, and commissioner for industry, Christian Udechukwu, who respectively spoke very powerfully to catching them young from all levels of schools for solutions towards the 4th Industrial Revolution, also graced the occasion.     

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