The Fourth Industrial Revolution

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Description

World-renowned economist Klaus Schwab, Founder and Executive Chairman of the World Economic Forum, explains that we’ve got a chance to shape the fourth industrial revolu­tion, with the intention to fundamentally alter how we are living and work.

Schwab argues that this revolution is different in scale, scope and complexity from any that have come before. Characterized by a range of new technologies that are fusing the physical, digital and biological worlds, the developments are affecting all disciplines, economies, industries and governments, and even challenging ideas about what it means to be human.

Artificial intelligence is already all around us, from supercomputers, drones and virtual assistants to 3D printing, DNA sequencing, smart thermostats, wear­ready sensors and microchips smaller than a grain of sand. But this is just the start: nanomaterials 200 times stronger than steel and a million times thinner than a strand of hair and the first transplant of a 3D printed liver are already in development. Consider “smart factories” in which global systems of manu­facturing are coordinated virtually, or implantable mobile phones made of biosynthetic materials.

The fourth industrial revolution, says Schwab, is more significant, and its ramifications more profound, than in any prior period of human history.
 
He outlines the key technologies driving this revolution and discusses the major impacts expected on government, business, civil society and individu­als. Schwab also offers bold ideas on how to harness these changes and shape a better future—one in which technology empowers people slightly than replaces them; progress serves society slightly than disrupts it; and in which innovators respect ethical and moral boundaries slightly than cross them. We all have the opportunity to give a contribution to developing new frame­works that advance progress.

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