By Joan Honig, DocuWare – According to a 2018 report by Deloitte and Forbes Insight entitled, The Fourth Industrial Revolution Is Here – Are You Ready?, new regulations will likely be a response to how well government thinks that business leaders are managing what they call Industry 4.0. The report says that, “Definitions for Industry 4.0 abound, but the change it portends at its core is the marriage of physical and digital technologies such as analytics, artificial intelligence, cognitive technologies and the internet of things (IoT).”
Respondents to their survey of more than 1,600 C-level executives in 19 countries view new regulations that come into play because of rapid technological advances as having a significant impact over the next five years.
Document Management and workflow automation will continue to have an important role in enabling compliance as the regulatory environment evolves. Since every industry and state has its own regulations, the effectiveness your compliance efforts lie with your ability to meet regulatory requirements with the support of digital workflow.