A brief on the 4th Industrial Revolution
The 4th Industrial Revolution is characterised by the evolution of technology. It is overwhelming to see exponential growth in technology in the 4th industrial revolution. Today, the technology is advancing at an exponential rate and opening doors to highly effecient and flexible ways with which organizations around the world operate. Automation technology is reducing human efforts in mainstream jobs considerably and technology like IoT is enabling connectivity between every electronic/computer device. Businesses are tranferring their workloads to cloud computing and there is a widespread digitalization across the globe.
The 4th IR is marked by the emergence of disruptive technologies that is substantially changing the way we live, work and interact. It is a new era of Industrial Revolution where our lives will be very hi-tech and we would be surrounded by technology that will break the boundary between virtual and reality.
A disruptive technology is something that replaces the existing technology by more enhanced and advanced one.
The term Fourth Industrial revolution was coined by Klaus Schwab, the founder and executive chairman of the World Economic Forum, in his book titled- THE FOURTH INDUSTRIAL REVOLUTION published in 2016.
Schwab argues that a technological revolution is around “that is blurring the lines between the physical, digital and biological spheres.”
The Fourth Industrial Revolution is characterized by the way with which technologies like artificial intelligence, autonomous vehicles and the internet of things(IoT) are merging with physical lives of humans. You must have come across technologies like voice assistant(eg- Alexa and Siri), facial ID recognition or digital health-care sensors.
The 4th IR is about going beyond digital.The pace of technological growth is much much higher than what it was in the 3rd industrial revolution- the one known as Digital Revolution- and is impacting human life more and more.