The World's Next Phase in Innovation
Updated: Jan 27, 2022
[Photo credit: LinkedIn]
Technology as we all know has been on the rise lately. Smartphones, cars, computers, and many others allow innovation to be at its peak; innovating is what lets humans increase their chances to react to changes and create new opportunities. But is the peak really a peak? Are we still rapidly accelerating in terms of technological progress that may further change the world as we know it? According to several sources and what has been happening lately, mankind is about to undergo another important era -- the Fourth Industrial Revolution.
What exactly is the Fourth Industrial Revolution?
The Fourth Industrial Revolution is the boundary between physical, digital, and biological worlds. In more specific terms, the revolution is a fusion of advances in areas such as artificial intelligence, robotics, the internet, 3D printing, genetic engineering, and quantum computing. This is because the data coming from these areas that produce so numerous deep connections between them and humans is striving for powerful technological applications, from weather systems to smart buildings regulating temperatures to self-driving cars.
The buildup to the Fourth Industrial Revolution
The very First Industrial Revolution was in the 18th century when agricultural societies mainly in Great Britain became industrial through mechanization and steam power. The Second Industrial Revolution involved the development of mass production and electricity around the late 19th century. The Third Industrial Revolution led up to the digital age with the use of semiconductors to create personal computers and other digital devices in the late 20th century. Here’s the undisputed truth: If it weren’t for these groundbreaking revolutions, the coming of the Fourth Industrial revolution would cease to exist.
Potential effects of the Fourth Industrial Revolution
Out of the several factors that are responsible for the Fourth Industrial Revolution, artificial intelligence and automation are predicted to have the largest impact on labor employment. Mckinsey Global Institute reports that about ⅕ of the global workforce will be affected by AI and automation, especially in first-world countries like the United States, Great Britain, and Germany. Additionally, 50% of companies speculate that robots may replace 800 million workers around the world. This has raised a huge concern for people who struggle to look for jobs and devote their hours towards labor. Therefore, the debate on whether or not technology has been beneficial to society is controversial and many people are curious as to what the Fourth Industrial Revolution may actually lead to. Whatever the case would be, humans since ancient times have certainly been striving to develop new and creative ways to improve their everyday lives. And the Fourth Revolution will only represent a tiny part of society’s innovative progress in the future.