TEMPO.CO, Jakarta - President Joko Widodo (Jokowi) calls on every party, including the financial industry, to be aware of the imminent industrial revolution 4.0.

“I think the financial industry must also prepare itself to carry out this fourth revolution,” said the seventh Indonesian president at the 2018 Annual Meeting of Financial Services Industry on Thursday, January 18.

According to Jokowi, the industrial revolution 4.0 is digitally-based and complies with big data analysis. Its implementation can be seen in various forms of creation, such as artificial intelligence (AI), among others.

Read: Jokowi to Focus on Developing Human Resources in 2019

Another aspect of the revolution is the biotechnology, said Jokowi. Agricultural engineering is said to be able to provide food availability in the midst of the ever-growing global population and the dropping amount of land available to grow food.

The president argues that food scarcity will not happen because of the development in the agricultural engineering. He mentioned the Netherlands as an example, the country that is geographically not as large as Indonesia is able to take the role as a food source in dairy products and meat due to the biotechnology.

Jokowi also views that the concept of work needs to be redefined in the midst of the industry’s development where the digital world has reduced the need for a company to operate in an office building. “You can work from anywhere now,” he said.

Vindry Florentin