The Fourth Industrial Revolution involves a systemic change across many sectors and human life, the impacts based on advanced technology and new innovations are stirring up reform of enterprises globally.

China is speeding up the pace into a new era, Jeffrey Wong, the head of the advisory at KPMG China, said innovation in technology plays a vital role in Chinese companies and multinationals. He mentioned traditional sectors, for example, Chairman Ning from Sinochem Group at the economic outlook session said factories are using Artificial Intelligence to improve the best to get real-time data now.

"So we advised clients that digitalization and technology always come into play in the area of the traditional space and fun startups as well," he added. 

Wong noted the awareness of the Fourth Industrial Revolution is already increased even though we are not overly prepared for that. According to a KPMG CEO Survey, over half of CEOs interviewed saw disruptive forces as an opportunity for their business. The survey showed CEOs are still broadly confident about the prospects for the global economy as well as their company's growth prospects.

"They are trying to disrupt their own sectors rather than waiting for disruptors to disrupt themselves," Wong noted.

"In addition, putting more capital into investing, innovation, R&D and enhance IPOs are helping to prepare the way and rather than having others to force them to make some changes."

While the Summer Davos Meeting released a message that the world still faces uncertainties, Wong commented we have made a lot of innovations and changes these years, and uncertainty is perhaps the only certainty. "The important aspect is that companies continue innovating… using automation, intelligence to help enhance health cares and other aspects as well. So definitely, uncertainties continue to exist, but it is also forcing companies to be a more advanced innovator and to force changes," he added.