Q. How has the rise of high-tech industries changed the landscape of global manufacturing?
Ans: Increased automation: High-tech industries rely heavily on automation, which has led to a decrease in the number of manual manufacturing jobs. This has also led to an increase in the demand for skilled workers who can operate and maintain automated machinery.
Globalisation: High-tech industries are often globalised, with companies setting up operations in different countries to take advantage of lower labour costs and other factors. This has led to a more competitive global manufacturing landscape.
Innovation: High-tech industries are constantly innovating, which has led to the development of new products and processes. This has helped to improve the quality and efficiency of manufacturing, and it has also created new markets for high-tech products.
Sustainability: High-tech industries are increasingly focused on sustainability, which has led to the development of new manufacturing processes that are less harmful to the
environment. This is important as manufacturing is a major contributor to pollution and climate change.
The rise of new business models: High-tech industries have led to the rise of new business models, such as computing and software as a service. These models have changed the way
that businesses operate and consume products and services.