“We stand on the brink of a technological revolution that will fundamentally alter the way we live, work, and relate to one another. In its scale, scope, and complexity, the transformation will be unlike anything humankind has experienced before.”, wrote Klaus Schwab , Founder, and Executive Chairman of World Economic Forum (WEF).
The first industrial revolution was marked by the introduction of steam engines. The second benefits from electricity and the mass production system. From the 1970s, an automation – with intensive use of electronics and information technology – defined the third evolutionary stage. The fourth revolution is characterized by the fusion of technologies that blurs the boundaries between physical, digital and biological.
“Like the revolutions that preceded it, the Fourth Industrial Revolution has the potential to raise global income levels and improve the quality of life for populations around the world. To date, those who have gained the most from it have been consumers able to afford and access the digital world; technology has made possible new products and services that increase the efficiency and pleasure of our personal lives”, says Schwab.
Watch this video produced by The World Economic Forum to know more about it.