how to respond to the fourth industrial revolution
This is an open access article distributed under the, Note that from the first issue of 2016, MDPI journals use article numbers instead of page numbers. These new platform businesses are rapidly multiplying into many new services, ranging from laundry to shopping, from chores to parking, from massages to travel. Therefore, we attempted to answer the following four research questions. However, I am convinced of one thing—that in the future, talent, more than capital, will represent the critical factor of production. Explain how customer expectations are shifting in response to the Fourth Industrial Revolution. When compared with previous industrial revolutions, the Fourth is evolving at an exponential rather than a linear pace. Technol. As this process takes place and new technologies such as autonomous or biological weapons become easier to use, individuals and small groups will increasingly join states in being capable of causing mass harm. 'The Fourth Industrial Revolution’ and its consequences was the subject of the annual ‘Davos-meeting’ which took place in January 2016. 3. This article was first published in Foreign Affairs, Author: Klaus Schwab is Founder and Executive Chairman of the World Economic Forum, We’re on the cusp of the Fourth Industrial Revolution, or Industry 4.0. / How to respond to the Fourth Industrial Revolution, or the second information technology revolution? A winner-takes-all economy that offers only limited access to the middle class is a recipe for democratic malaise and dereliction. As automation substitutes for labor across the entire economy, the net displacement of workers by machines might exacerbate the gap between returns to capital and returns to labor. 2. 2018 ; Vol. How to Respond to The Fourth Industrial Revolution. The statements, opinions and data contained in the journals are solely The history of warfare and international security is the history of technological innovation, and today is no exception. Our relationship with our smartphones is a case in point. The Fourth Industrial Revolution, finally, will change not only what we do but also who we are. But at the same time, advances in technology will create the potential to reduce the scale or impact of violence, through the development of new modes of protection, for example, or greater precision in targeting. “What is the definition of the Fourth Industrial Revolution?”, … J. The Fourth Industrial Revolution will also profoundly impact the nature of national and international security, affecting both the probability and the nature of conflict. J. Multiple requests from the same IP address are counted as one view. We are entering the fourth industrial revolution, also known as ‘Industry 4.0’. We hope you join us. In the future, technological innovation will also lead to a supply-side miracle, with long-term gains in efficiency and productivity. When we dig a little deeper into some of his ideas, we find that parts of the Fourth Industrial Revolution pertains to transhumanism. We should thus grasp the opportunity and power we have to shape the Fourth Industrial Revolution and direct it toward a future that reflects our common objectives and values. Large-scale machine-to-machine communication (M2M) and the internet. How to Respond to the Fourth Industrial Revolution, or the Second Information Technology Revolution? How to Respond to the Fourth Industrial Revolution, or the Second Information Technology Revolution? Disruption is also flowing from agile, innovative competitors who, thanks to access to global digital platforms for research, development, marketing, sales, and distribution, can oust well-established incumbents faster than ever by improving the quality, speed, or price at which value is delivered. Subscribe to receive issue release notifications and newsletters from MDPI journals, You can make submissions to other journals. We need to shape a future that works for all of us by putting people first and empowering them. Transportation and communication costs will drop, logistics and global supply chains will become more effective, and the cost of trade will diminish, all of which will open new markets and drive economic growth. It is incumbent on us all to make sure the latter prevails. Lee M, Yun JJ, Pyka A, Won D, Kodama F, Schiuma G, Park H, Jeon J, Park K, Jung K, Yan M-R, Lee S, Zhao X. those of the individual authors and contributors and not of the publisher and the editor(s). In an ideal world, these interactions would provide an opportunity for cross-cultural understanding and cohesion. Ultimately, the ability of government systems and public authorities to adapt will determine their survival. However, they can also create and propagate unrealistic expectations as to what constitutes success for an individual or a group, as well as offer opportunities for extreme ideas and ideologies to spread. It is characterized by a fusion of technologies that is blurring the lines between the physical, digital, and biological spheres. On the supply side, many industries are seeing the introduction of new technologies that create entirely new ways of serving existing needs and significantly disrupt existing industry value chains. By Equ@tions Digital; August 11, 2020 August 11, 2020; We stand on the brink of a technological revolution that will fundamentally alter the way we live, work, and relate to one another. Given the Fourth Industrial Revolution’s rapid pace of change and broad impacts, legislators and regulators are being challenged to an unprecedented degree and for the most part are proving unable to cope. More than 30 percent of the global population now uses social media platforms to connect, learn, and share information. Now a Fourth Industrial Revolution is building on the Third, the digital revolution that has been occurring since the middle of the last century. Technology is therefore one of the main reasons why incomes have stagnated, or even decreased, for a majority of the population in high-income countries: the demand for highly skilled workers has increased while the demand for workers with less education and lower skills has decreased. It is already changing our health and leading to a “quantified” self, and sooner than we think it may lead to human augmentation. In: Journal of Open Innovation: Technology, Market, and Complexity. And these possibilities will be multiplied by emerging technology breakthroughs in fields such as artificial intelligence, robotics, the Internet of Things, autonomous vehicles, 3-D printing, nanotechnology, biotechnology, materials science, energy storage, and quantum computing. The distinction between war and peace, combatant and noncombatant, and even violence and nonviolence (think cyberwarfare) is becoming uncomfortably blurry. 3: 21. In the end, it all comes down to people and values. Since Klaus Schwab and the World Economic Forum declared the arrival of the Fourth Industrial Revolution, there has been much discussion about it. In addition, the South African workplace will be influenced by the disruptions from the Fourth Industrial Revolution. How to Respond to the Fourth Industrial Revolution, or the Second Information Technology Revolution? Here are the Top 5 Skills I believe teachers need to continue to flourish in the Fourth Industrial Revolution: Embrace Change with Positivity – As I mentioned above, it is critical for teachers to be willing to learn and to change as technology evolves and enters the education arena. Read more: The surprising link between science fiction and economic history. If they cannot evolve, they will face increasing trouble. Illustrated GIF by Rachael Bolton. To do so, governments and regulatory agencies will need to collaborate closely with business and civil society. We need public participation and belief that the fourth industrial revolution will bring a shared focus on people, planet and profit. The possibilities of billions of people connected by mobile devices, with unprecedented processing power, storage capacity, and access to knowledge, are unlimited. The ingenuity we’ve seen in response to COVID-19 proves what the public sector – and the nation – is capable of when we use technologies in the right way. Then, the Third Industrial Revolution used information technology and electronics to automate production. The Fourth Industrial Revolution will also profoundly impact the nature of national and international security, affecting both the probability and the nature of conflict. The Fourth Industrial Revolution, finally, will change not only what we do but also who we are. We cannot wait until there are massive dislocations in our society to prepare for the Fourth Industrial Revolution.” In our inventiveness it has led us to the point where humanity must declare a non-shooting war on the future by altering the education paradigm. As a society, we are unprepared for the changes coming our way in the Fourth Industrial Revolution (4IR). I am a great enthusiast and early adopter of technology, but sometimes I wonder whether the inexorable integration of technology in our lives could diminish some of our quintessential human capacities, such as compassion and cooperation. Therefore, we attempted to answer the following four research questions. We cannot foresee at this point which scenario is likely to emerge, and history suggests that the outcome is likely to be some combination of the two. 2018; 4(3):21. Debates about fundamental issues such as the impact on our inner lives of the loss of control over our data will only intensify in the years ahead.

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