Public Lecture on The Industry 4.0 and Her Impact on The Financial Sector

A public lecture on The Industry 4.0 and Its Impact on The Financial Sector was delivered at the university by Dr. Martin Stieger, Director of the Center for European University Studies (CEUS) and Dr. Hans Unterdorfer, banking expert, Honorary Adviser of the Russian Federation in Austria. The Rector of UNWE Prof. D.Sc.(Econ.) Statty Stattev opened the meeting and presented the guests.

The Rector Prof. Stattev is opening the meeting. On the right: Dr. Unterdorfer and Dr. Stieger

Dr. Stieger expressed his thankfulness for the invitation and greeted Prof. Stattev for the new International Master`s Degree Programme in Nuclear Security which is a high attestation for the university.

Both lecturers described the new industrial revolution, its characteristics and directions, its impact on the financial sector as well as its importance for the global economic development. Dr. Stieger and Dr. Unterdorfer commented on the chance for replacing the human factor in the economic relations and the future of communication “robot to robot”. They analyzed the economic mechanisms over the period of three industrial revolutions and emphasized on the changes in the economic system during the fourth industrial revolution.

In the Ceremonial Hall

The wide application of information technology and internet marketing has created a new chain of economic relations in the industrial and financial sector, the consumers are integrated by the internet area and the economic process has changed and has become unpredictable, outlined the lecturers. The change of needs, desires, tendencies and fashion as well as the unpredictability of circumstances requires economic flexibility for solving and controlling the market problems. The opportunity for online marketing and appearance of virtual currency such as bitcoin tries to replace the traditional ways of payment, pointed out Dr. Stieger and Dr. Unterdorfer.

Both lecturers during the presentation

Both scientists examined also the new industrial metamorphosis to which the world economy is faced up. They paid attention also to the newly discovered change of genetic codes and their importance for finding new mechanisms for measuring the economic indicators in the future.

The Rector of the university Prof. D.Sc.(Econ.) Statty Stattev awarded to Dr. Stieger and Dr. Unterdorfer Certificates of Appreciation in recognition of their public lecture (in the picture below).