The fourth industrial revolution is a combination of multiple factors coming together with advancements in electronics, high speed connections, increased computing power, the cloud, and data analytics, according for PWC’s advisory leader Mohamed Kande.

TechRepublic’s Alison DeNisco met with Kande at the Mobile World Congress Americas 2017 to discuss how the next industrial revolution will impact all industries and consumers. “The fourth industrial revolution is really about all of the different forces coming together as one to create a new set of opportunities where our virtual role is now converging with our physical role,” Kande said.

SEE: The Fourth Industrial Revolution: Why you need a global IoT strategy (Tech Pro Research)

This revolution, unlike the previous, would impact all industry sectors, and consumer behavior as well. “The fourth industrial revolution is really changing not only how companies are operating today, but is also changing how we as individuals, as consumers, are going to live our lives,” he said.

Businesses need to think about how they can better use and manage the data they have today, Kande added. They must have understand the data they have. Once they are able to do that, it will “unleash the next generation of products and services that companies would need to sell to the consumers, who are now in the midst of the fourth industrial revolution.”

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