industrial revolutionHistorically the world has seen three other industrial revolution as technology evolves marketplace demands will also adjust to accommodate new technologies, and new products.

The first industrial revolution: This era marks the first time in history the world systematically used resources to grow an economy. Innovators in this revolution used steam, water, and textiles to increase factory productivity.

 

The second industrial revolution: As World War 1 began, the world was simultaneously experiencing a second wave of technological advancements.  Steel was the name of the game during the second industrial revolution and brought us important transportation advancements like railroads, petroleum, and even improved electricity.

 

The third industrial revolution: This wave marked the first time manufacturing went digital. Prior to the third revolution “hands on” work that required machinery work in the style of welding or other manual labor was the dominant force. The third industrial revolution allowed skilled workers to utilize software or other digital advances to help improve productivity.

 

Each revolution is a natural progression from the time period before, which explains why the fourth industrial revolution, where we find ourselves now, still depends on digital technology. The scope in which we depend on digital technology has, of course, grown drastically though.  Software and digital improvements has brought the world major breakthroughs like artificial intelligence, improved renewable energy sources, biotechnology and more.

 

Where will the fourth industrial revolution lead us?

 

With the avalanche of new products, new technologies and new ways of working new job opportunities and new skill sets are certainly on the horizon. One thing to consider, which hasn’t been as prominent in other revolutions is the presence of artificial intelligence, or robots, that are skilled enough to take over many “human jobs”.   As World Economics Forum states: Robots may help us get to where we want to be faster, but they can’t be as creative as humans. For that reason, it is predicated that creativity will become an important skill to keep up and thrive in the Fourth Industrial Revolution.

 

What do you think?

What types of societal improvements do you foresee with the influx of technology? How can drones help us thrive, apart from drone-based food delivery services?

 

Looking at the revolution from all perspectives:

 

The World Economics Forum also predicts that every period of upheaval has winners and losers. And the technologies and systems involved in this latest revolution mean that individuals and groups could win – or lose – a lot.

 

Wins with our improved technology are inevitable, but loses may be overlooked. It’s important to assess which groups of the world may experience set backs from improved technology.

 

What type of setbacks to you predict from the fourth industrial revolution? We’d love to hear your feedback. We can be reached via Facebook and Twitter.

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