New Businesses Emerging in the Fourth Industrial Revolution

With the rise of this revolution, many changes have occurred across various sectors. What previously required a large workforce can now be replaced with the use of advanced technology machines.

The development of technology always brings about the emergence of new industries. Just like during the first industrial revolution when the automotive and factory sectors began to flourish, the same is happening in the fourth industrial revolution, or Industry 4.0 (In Bahasa known as: “Revolusi Industri”).

This revolution presents vast opportunities for individuals to create innovative business concepts.

Innovations in Technology

The term Industry 4.0 refers to a revolution driven by the utilization of cutting-edge technologies, such as robotics systems, artificial intelligence, cloud computing, and the internet.

It can be said that digital business innovations leverage sophisticated technology in production processes and marketing. It's important to be aware of some rapidly evolving examples of business innovations in the Industry 4.0 era.

Newly Emerging Businesses in the Fourth Industrial Revolution

Here are five examples of emerging industries fueled by digital technology advancements. Some of these industries fully rely on technology!

1. Website and Mobile Application Development

Having your own website has become a necessity today. If you run a business, you must definitely have a website, whether you provide MVP development for startups or make coffee. Besides websites, mobile applications also hold great potential in catering to the needs of mobile users in Indonesia.

All platforms nowadays implement Search Engine Optimization (SEO) on their websites to attract audiences. Users typically visit websites that appear on the first page of Google search results. As a result, website owners compete in implementing SEO strategies. 

2. E-commerce

The retail industry has undergone a digital transformation and embraced technology, giving rise to the thriving e-commerce sector. With a warm reception from the public, e-commerce has experienced significant growth.

Initially, e-commerce was merely a platform for peer-to-peer selling, largely overlooked by major business owners.

However, as time passed and logistics and internet infrastructure developed, the e-commerce industry expanded and even entered the conventional retail market.

This occurred because e-commerce offers a simpler and more convenient shopping experience compared to traditional methods.

Currently, TikTok is a rapidly growing e-commerce platform among business owners, where its algorithm determines the exposure of your business on the "For You" page (FYP). Therefore, it's crucial for business owners to understand the “Jadwal FYP TikTok” or TikTok FYP schedule.

3. Digital Payments

Will physical currency gradually disappear? It's a possibility! The digital payment industry continues to grow daily. In Indonesia, there might already be over 10 digital payment vendors operating, each with their unique features.

Digital payments have rapidly gained popularity due to the ease and security they provide in transactions. By using these services, users can effortlessly make various payments from the comfort of their homes, simply through a mobile application.

Digital payments currently don't incur monthly administrative fees like banks do. Additionally, transactions don't require the use of cards, resulting in faster processing and eliminating the risks of card fraud or theft.

4. Digital Banking

In the era of the fourth industrial revolution, the conventional practice of keeping money at home has transformed into digital banking. This involves conducting banking activities through electronic channels, particularly mobile banking applications.

These digital banking businesses also facilitate the use of e-money and collaborate with merchants for payments. Digital banks offer numerous advantages. Through mobile applications, customers can make online bill payments for utilities, telephone bills, and even social security payments.

5. Online Courses

Learning has become more accessible with the introduction of online classes, especially since the emergence of the COVID-19 pandemic in early 2020. The online learning industry has experienced rapid growth as people faced limited options for pursuing education during the pandemic.

However, it's not the only reason. Online classes provide a distinct learning experience compared to traditional education. One of the challenges overcome by online classes is providing access to learning materials.