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[Asian Steel Watch] Vol.2 (2016.10)

[Asian Steel Watch] Vol.2 (2016.10)

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On the Cover The Fourth Industrial Revolution: The Winds of Change Are Blowing in the Steel Industry

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With the advancement of the Fourth Industrial Revolution, many traditional industries now face the destruction of industrial structures, and countries are intensifying competition to take the leadership in the future of manufacturing. Under these circumstances, manufacturing will face new changes in the future. On the consumers’ front, the era of “mass personalization” will be heralded and dynamic intelligence, real-time enterprise, and servitization will become new trends on the suppliers’ front. The Fourth Industrial Revolution is also gaining ground in the steel industry, and new changes are becoming apparent. GE has a long history and tradition as an automation company in power generation and energy, but it has declared itself to be a software company. Likewise, a steel company in the Fourth Industrial Revolution might need to become a “software engineering company that produces steel,” not a “company that buys and uses software well.”

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