The Fourth Industrial Revolution. For the 1st Industrial Revolution, the UK could claim to be the ‘workshop of the world’ – propelled by development of the steam engine, it reached its pinnacle in the mid-19th Century. But the UK has not had the monopoly on waves of industrialisation. Now, in the fourth revolution.
“The Fourth Industrial Revolution, finally, will change not only what we do but also who we are. It will affect our identity and all the issues associated with it: our sense of privacy, our notions of ownership, our consumption patterns, the time we devote to work and leisure, and how we develop our careers, cultivate our skills, meet people, and nurture relationships” — Klaus Schwab, The Fourth Industrial Revolution
The technological revolution in the modern developing environment in which innovative technologies and trends such as the virtual reality (VR), Internet of Things (IoT), Artificial Intelligence (AI), Robotics are fundamentally altering the way of living, working and relationships to one another, is known as Fourth Industrial Revolution or Industry 4.0 or Industrie 4.0. ProfessorKlaus Schwab, the executive chairman and founder of the World Economic Forum, first used the term ‘Fourth Industrial Revolution’ in 2016 in the Annual Meeting of World Economic Forum,2016. Schwab called Fourth Industrial Revolution, in his book The Fourth Industrial Revolution, as “ a range of new technologies that are fusing the physical, digital and biological worlds, impacting all disciplines, economies and industries, and even challenging ideas about what it means to be Human”.
(AS DISCUSSED EARLIER IN THE ARTICLE #FourthIndustrialRevolution:ABriefReview)
<> IMPACTS OF FOURTH INDUSTRIAL REVOLUTION <>
The Fourth Industrial Revolution is reshaping every sphere of human life — from government to commerce; from education to healthcare. It is even impacting human values, opportunities, relationships and identities by modifying virtual as well as physical worlds of human beings.
- POSITIVE IMPACTS :-
- For the advancements in latest technological innovations, the power and types of digital devices, computing devices and networks are rapidly developing day by day. This is making education and various information easily accessible.
- Gradual evolution of technologies and scientific innovations are leading to the creation of new educational disciplines, which is, finally leading to more scopes for better opportunities. Fourth Industrial Revolution is enhancing the facilities for the development as well as innovation of new skills. Fourth Industrial Revolution emphasizes growth of knowledge and thirsts for learning. Application oriented courses are more preferable than bookish education.
- Due to the continuous technological development, online social media, such as, Twitter, LinkedIn, Facebook etc. are becoming more and more active. Everyone is able to express and highlight their views about any contemporary incident or event easily before the world through these social media platforms.
- Communication is becoming easier steadily. Through WhatsApp, IMO, Messenger etc., people can comfortably connect with and contact their relatives, friends or anyone across the world. Video calling or chat is helping in compressing distances and making people happier.
- Lands are not essential for building markets. Online shopping sites and quick delivery services are making commodities accessible at home as well as increasing economical benefits. The online customer service agents also provide smart recommendations to customers.
- The World is becoming a global village, where billions of people as well as products are easily accessible.
- Progress in medical sciences, neurosciences etc., due to Fourth Industrial Revolution, are leading to healthier lives; advanced intellectual and mental capability; and longer life spans.
- Agriculture is also influenced by the Fourth Industrial Revolution. Greater amounts of Crops can be yielded with the help of Bioengineering. With the help of the machines,powered by artificial intelligence, measuring crop populations and detection of weeds or plant pests are also becoming easier. Robotic sprayers are also available for the application of herbicides.
- Due to the advancement in digital technology, workers are becoming free from automatable jobs and can engage themselves for solving complicated business issues. This is making them more autonomous.
- Carbon emissions, road fatalities and insurance costs minimize because of the advancements in automotive safety due to the advancing technologies of Fourth Industrial Revolution.
- No need of standing on road and waiting for transportations. People can book cars or vehicles online and avail them at their doorsteps. Due to the grace of Fourth Industrial Revolution, autonomous or driverless vehicles may be available soon.
- With the help of online banking facility, people do not need to go to banks for transactions or other important works at bank. Maximum bank-works may be accomplished from home.
- E-Governance is also possible in the era of Fourth Industrial Revolution with the help of new technological innovations. The new technology also help the government in modernising executive organizations and functions. E-Governance ensures accountability and transparency as well as strengthen the relationship between the government and the citizens.
- Online jobs provide people to work from and earn at home.
- Fourth Industrial Revolution emphasizes self-employment.
- NEGATIVE IMPACTS :-
- Over-reliance on technology is decreasing the will of human beings for using own intellect and physical power.
- Social media is increasing distances between a person and his family members as well as the physical society. Virtual world is becoming more preferable than the physical world and this is creating social divide.
- Social media is not always helpful because it is a medium for spreading news,among which some or many may be false; the false news create annoyances.
- Privacy of an individual is not at all totally private in this era of Fourth Industrial Revolution due to the grace of technological advancements in tracking system. Every activity of a human being can be traced through digital devices, like CCTV Cameras, smart phones etc. Social media platforms, such as, Facebook, Twitter etc. as well as online shopping sites, such as, Flipkart, Amazon etc. collect every information from name and Date of Birth to Credit Card or bank details of an individual before creating a profile or account.
- Cyber bullying and hate speech are other negative impacts of social media which are gradually increasing in the era of Fourth Industrial Revolution. Cyber attacks are also not unlikely due to the gradual progress in internet facility. It should not be forgotten that hacking is not always ethical; hacking may also harm our overall security.
- Overuse of data and connections is overloading the network services.
- People are least interested to go to the market, to jog under the open sky or to visit someone's home, among others because the technological evolution enable them to shop at online shopping sites, to jog on treadmills and to contact with people through social media respectively, among others. Children are more interested in mobile games than outdoor games due to the grace of smart technologies. This is affecting human health badly, physical as well as mental, because the movement of the human body and intake of fresh air is decreasing. Excessive uses of smart phones and digital games are causing hindrance in physical and mental growth of children.
- The scopes of employment are at stake because of the advancements in automotive and robotic technology. Human skills are becoming invaluable in front of artificial intelligence. Machines are more favoured than human beings.
- Concentration of wealth among small group of people is constantly increasing. This is creating inequality among people economically as well as socially. Thus social fragmentation, political polarization and lack of trust in institutions are inevitable.
- Competitive environment of Fourth Industrial Revolution, sometimes, causes emotional frustration as well as affect mental balance. This may lead to suicidal tendency, anxiety, insomnia and other neurological diseases.
- Bioengineering, artificial intelligence, programming tools, robotics etc. may also be used for destructive purposes.
- Controversial innovations, due to biotechnology, like gene drives or implants to increase the efficiency of a human being, as well as designer babies, among others can not be ignored.
- Climate change is another negative impact of Fourth Industrial Revolution. Massive industrialization, rapid development in technologies, increased urbanization, excessive deforestation, limitless resource depletion, desertification, rapid population growth, water scarcity, food insecurity etc. are hampering the natural environmental balance of earth.
- Rapid migration of people for better opportunity and clustering at one place, leaving another isolated creates pressure at one part of the earth while the development of other part lags behind. This causes environmental imbalance as well as unequal global development, which causes social inequality globally. Growth in inequality may invite conflicts, social tensions and violent extremism.
Fourth Industrial Revolution, or Industry 4.0. It’s quite different than the three Industrial Revolutions that preceded it—steam and water power, electricity and assembly lines, and computerization—because it will even challenge our ideas about what it means to be human.The Fourth Industrial Revolution, Professor Klaus Schwab, founder and executive chairman of the World Economic Forum, describes the enormous potential for the technologies of the Fourth Industrial Revolution as well as the possible risks. He said, 'The changes are so profound that, from the perspective of human history, there has never been a time of greater promise or potential peril. My concern, however, is that decision-makers are too often caught in traditional, linear (and non-disruptive) thinking or too absorbed by immediate concerns to think strategically about the forces of disruption and innovation shaping our future.'
What’s the promise of the Fourth Industrial Revolution?
Indeed, one of the greatest promises of the Fourth Industrial Revolution is to potential is to improve the quality of life for the world's population and raise income levels. For those in First World countries who already enjoy some of the benefits of a connected world as well as new products and services developed to take advantage of the technologies, we appreciate the efficiencies and conveniences provided such as booking a flight to getting movie recommendations. Our workplaces and organizations are becoming 'smarter' and more efficient as machines, and humans start to work together, and we use connected devices to enhance our supply chains and warehouses. The technologies of the Fourth Industrial Revolution might even help us better prepare for natural disasters and potentially also undo some of the damage wrought by previous industrial revolutions.
What’s the potential peril of the Fourth Industrial Revolution?
World governments need to adequately plan for and regulate our new capabilities to ensure our security. There might be increased social tensions as a result of the socioeconomic changes brought by the Fourth Industrial Revolution that could create a job market that’s segregated into “low-skill/low-pay” and “high-skill/high-pay” segments. Typically, first-adopters of technology are the ones with the financial means to secure it, and that technology can catapult their continued success increasing the economic gaps. Some jobs will become obsolete. Additionally, the changes might develop so swiftly, that even those who are ahead of the curve in terms of their knowledge and preparation, might not be able to keep up with the ripple effects of the changes.
How best to prepare for the Fourth Industrial Revolution?
Schwab calls for leaders and citizens to “together shape a future that works for all by putting people first, empowering them and constantly reminding ourselves that all of these new technologies are first and foremost tools made by people for people.”
Humans must be proactive in shaping this technology and disruption. This requires global cooperation and a shared view of how technology is reshaping our economic, social, cultural and individual lives.
Companies should invest in their technical infrastructure and data analyzing capabilities. All businesses must be making a move to be smart, connected organizations or they will soon fall behind the competition.
We need to develop leaders with the skills to manage organizations through these dramatic shifts. As professionals, we need to embrace change and realize that what our jobs are today might be dramatically different in the not too distant future. Our education and training systems need to adapt to better prepare people for the flexibility and critical thinking skills they will need in the future workplace.