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WEF inaugurated the Centre for Fourth Industrial Revolution

Why is it in the news?

  • The World Economic Forum (WEF) inaugurated the Centre for Fourth Industrial Revolution (C4IR) in Hyderabad during the 21st edition of BioAsia 2024.
  • This centre is the world’s first thematic centre focusing specifically on healthcare and life sciences within the context of the Fourth Industrial Revolution.
  • The primary aim of WEF’s C4IR initiative is to leverage the potential of technological advancements to drive equitable and human-centred transformations across various industries, economies, and societies.
About Fourth Industrial Revolution (4IR)

·       The Fourth Industrial Revolution refers to the ongoing digital transformation of the manufacturing industry and beyond.

·       It encompasses technologies such as Artificial Intelligence (AI), Additive Manufacturing (3D printing), Internet of Things (IoT), and others.

·       Key aspects of 4IR include the integration of cyber-physical systems, automation, and data-driven decision-making.

Applications in Healthcare

  • Life Sciences Monitoring: Wearable devices enable the continuous monitoring, recording, visualization, and sharing of health-related data, facilitating proactive healthcare management.
  • Evidence-Based Care: Advanced health profiling and clinical registries leverage data analytics to provide personalized and evidence-based medical care, leading to improved patient outcomes.
  • Precision Medicine and Targeted Drug Delivery: Utilizing genetic and molecular information, precision medicine allows for customized treatment strategies tailored to individual patients, while targeted drug delivery enhances the efficacy and safety of therapeutic interventions.

Challenges in Healthcare 4IR Implementation

  • Data Fragmentation: Patient information is often fragmented across disparate systems, hindering seamless healthcare delivery and data interoperability.
  • Skills Gap: The rapid pace of technological innovation requires healthcare professionals to possess specialized skills and expertise, posing challenges in workforce training and development.
  • Privacy and Security Concerns: The proliferation of digital health technologies raises concerns regarding the privacy and security of sensitive medical data, necessitating robust cybersecurity measures and regulatory frameworks.
  • Ethical Considerations: Ethical dilemmas arise in areas such as patient consent, data ownership, and algorithmic bias, highlighting the importance of ethical guidelines and governance frameworks in healthcare 4IR initiatives.
A C4IR centre was previously established in Maharashtra, India, under the coordination of NITI Aayog (National Institution for Transforming India).

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