The concept of the Fourth Industrial Revolution is no longer sufficient to encompass the profound transformations of our time. Digital transformation, artificial intelligence, and robotics are driving a comprehensive turning point that goes far beyond the boundaries of industry, reshaping how we work, do business, and govern society.

Time to “retire” the concept of Industry 4.0 The term “Fourth Industrial Revolution” first appeared in Germany in 2011, marking a turning point in the digitization of production, where people, machines, and data were closely connected to create the “smart factory.” For years, we have continued to use the concept of Industry 4.0 to describe the convergence of various foundational technologies and to regard it as the “driving force” of change. In reality, however, the concept of Industry 4.0 is too “narrow” to capture today’s reality. Nowadays, digital transformation is not simply about adopting new technologies but about a comprehensive reconfiguration of how businesses, organizations, and even public administrations operate—from strategy and processes to culture and people. Artificial intelligence (AI) has gone far beyond research labs to become a practical tool, present in data analytics, customer service, market forecasting, business efficiency enhancement, market expansion, and even in the invention of new technologies. Robotics is profoundly changing production, logistics, and services, as robots evolve into collaborative partners rather than merely “steel arms” in factories. What is happening today has gone well beyond the production focus of Industry 4.0. Digital transformation, AI, and robotics are driving sweeping changes across the economy—from industry, agriculture, commerce, and services to education, healthcare, and even national governance. In other words, we are living in a new era, where digital technologies not only “enhance productivity” but also fundamentally reshape the way we work, conduct business, and manage society. For this reason, the notion of Industry 4.0 has already been surpassed. It is time to stop using it as a guiding concept. The current era should instead be named the Era of Digital Transformation, AI, and Robotics. Digital transformation in the new era “Digital transformation” has become a buzzword across conferences and forums. However, it is often misunderstood. To implement it effectively, we need to clearly distinguish between its three levels: - Digitization is the first and simplest level—the conversion of physical data into digital form, such as scanning documents, digitizing photos, or analog audio. This is a prerequisite but does not bring substantive change. - Digitalization is the next step. Here, technology is integrated into operations to automate, optimize, and improve efficiency. A company using software to manage human resources instead of paperwork is a typical example. - Digital Transformation is the highest level. This is when a business or organization restructures its entire operating model—from strategy and processes to how it creates and delivers value. This is digital transformation in its true sense. The emergence of Airbnb and Uber are concrete examples. The differences among these three levels are significant—and unless organizations advance to the third level, all efforts remain little more than “a fresh coat of paint,” without altering the core structure. Digital transformation does not begin with choosing software or moving to the cloud. Its success hinges on intangible factors: leadership mindset, organizational culture, financial strategy, and human capability. Leadership mindset is the starting point. Without vision and commitment from the top, transformation projects easily become superficial. Without the right mindset, technology is seen as a “cost” rather than a “strategic investment.” Organizational culture is the foundation. Companies willing to experiment, accept mistakes, and learn from failures will gain an advantage in the journey of renewal. By contrast, organizations that prioritize safety over evolution end up holding back their own progress. Finance—and specifically, financial strategy—is vital. Digital transformation is not free, and it is certainly not cheap without a long-term plan. Costs extend beyond technology to include training, restructuring, and continuous improvement. Businesses need the right financial strategy and a tolerance for a certain level of risk. People are the final—but most crucial—factor. No technology can realize its full potential without individuals who have the skills, motivation, and innovative mindset to operate it effectively. Digital transformation is a holistic journey requiring alignment between technology and people, strategy and culture, finance and risk management. Without any one of these foundations, the picture of transformation remains incomplete. The heart of digital transformation Businesses should not begin their transformation journey with the question, “Which technology should we use?” but rather, “What is the purpose of our transformation?” Is it the goal to optimize costs, improve customer experience, expand markets, or reinvent the business model? Each objective leads to a different roadmap and transformation structure. There is no one-size-fits-all path. A common mistake is to assume that investing in technology equals transformation. But without reimagining operating models and integrating technology into the value-creation structure, investment only results in a “facelift,” not sustainable differentiation. Effectiveness must be measured with clear metrics: revenue growth, cost savings, customer satisfaction, or workforce productivity. Without measurement, strategies risk becoming symbolic rather than substantive. Strategy and vision are the compass of digital transformation. Only with a clear vision and an appropriate roadmap can transformation deliver sustainable results instead of becoming a temporary trend. If strategy and vision are the compass, then culture and people are the heart. A digital workforce needs more than technical expertise; it requires new skills such as data analytics, digital thinking, technology project management, AI collaboration, and above all, continuous adaptability. One pressing question in this journey is: How can we retain and develop digital talent in an increasingly competitive market? Today, tech talent is not only scarce but also globally sought after. In this context, only businesses that build a positive work environment, enable long-term growth, recognize contributions appropriately, and empower their workforce in meaningful ways can retain their “digital heart”—the core teams driving transformation. Ultimately, digital transformation is, first and foremost, a human story. Technology succeeds only when people embrace it, and organizational culture is the foundation that makes transformation sustainable. The Fourth Industrial Revolution was once a guiding banner, but it no longer reflects reality. The new era is not merely the sum of technologies—it is a complete redefinition, with people at the center. The age of digital transformation, AI, and robotics must be told as a human story, because only people can decide the kind of future we want to build. (*) Chairman of Foundry AI Vietnam, former General Director of Bosch Vietnam, and former Deputy CEO of Vingroup in charge of VinFast