Ease of Doing Business for MSMEs: As the pandemic propels a speedy shift towards automation, micro, small, and medium enterprises (MSMEs) need to be made part of this transition to ensure more inclusive growth and faster poverty alleviation. The Coronavirus outbreak caught digitally unschooled companies on the back foot. In the aftermath of the pandemic, industrial automation has seen an acceleration across sectors as it had a visible impact on operations in factories due to the fear of infections. Conversely, digital natives managed to keep operations ticking from the outset as they were conversant with the remote working model.
Indeed, digitally savvy companies have been part of the ongoing Industry 4.0 paradigm from its early days, introducing automation in their traditional manufacturing and industrial activities by deploying smart technologies. Besides automation, smart business and manufacturing practices comprise big data capabilities the Internet of Things, artificial intelligence, machine learning, and more.
Source: Financial Express
