The Fourth Industrial Revolution: what it means, how to respond
The impact on government
Shaping the future
Challenges and
opportunities
The impact on people
The impact on business
what it means?
-We stand on the brink of a technological revolution that will fundamentally alter the way we live, work, and relate to one another.
-We do not yet know just how it will unfold, but one thing is clear: the response to it must be integrated and comprehensive, involving all stakeholders of the global polity, from the public and private sectors to academia and civil society.
-Now a Fourth Industrial Revolution is building on the Third, the digital revolution that has been occurring since the middle of the last century.
-It is characterized by a fusion of technologies that is blurring the lines between the physical, digital, and biological spheres.
-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.
-Artificial intelligence is all around us, from self-driving cars and drones to virtual assistants and software that translate or invest.
_Inequality represents the greatest societal concern associated with the Fourth Industrial Revolution.
_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.
_This will give rise to a job market increasingly segregated into “low-skill/low-pay” and “high-skill/high-pay” segments, which in turn will lead to an increase in social tensions.
_Discontent can also be fueled by the pervasiveness of digital technologies and the dynamics of information sharing typified by social media.
_It is also possible that the displacement of workers by technology will, in aggregate, result in a net increase in safe and rewarding jobs.
_These interactions would provide an opportunity for cross-cultural understanding and cohesion.
_The revolution could yield greater inequality, particularly in its potential to disrupt labor markets.
_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.
_Technological innovation will also lead to a supply-side miracle, with long-term gains in efficiency and productivity.
_The Fourth Industrial Revolution has the potential to raise global income levels and improve the quality of life for populations around the world.
⭐These technology platforms, rendered easy to use by the smartphone, convene people, assets, and data—thus creating entirely new ways of consuming goods and services in the process.
⭐They lower the barriers for businesses and individuals to create wealth, altering the personal and professional environments of workers.
⭐There are four main effects that the Fourth Industrial Revolution has on business—on customer expectations, on product enhancement, on collaborative innovation, and on organizational forms.
⭐As growing transparency, consumer engagement, and new patterns of consumer behavior (increasingly built upon access to mobile networks and data) force companies to adapt the way they design, market, and deliver products and services.
⭐New technologies make assets more durable and resilient, while data and analytics are transforming how they are maintained.
⭐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.
⭐Requires new forms of collaboration, particularly given the speed at which innovation and disruption are taking place.
⭐The development of technology-enabled platforms that combine both demand and supply to disrupt existing industry structures, such as those we see within the “sharing” or “on demand” economy.
✅Legislators and regulators are being challenged to an unprecedented degree and for the most part are proving unable to cope.
✅This means regulators must continuously adapt to a new, fast-changing environment, reinventing themselves so they can truly understand what it is they are regulating.
✅The ability of government systems and public authorities to adapt will determine their survival.
✅Governments and regulatory agencies will need to collaborate closely with business and civil society.
✅Governments will increasingly face pressure to change their current approach to public engagement and policymaking
✅The Fourth Industrial Revolution will also profoundly impact the nature of national and international security, affecting both the probability and the nature of conflict.
✅New technologies and platforms will increasingly enable citizens to engage with governments, voice their opinions, coordinate their efforts, and even circumvent the supervision of public authorities.
✅As this process takes place and new technologies such as autonomous or biological weapons become easier to use
❤Our relationship with our smartphones is a case in point. Constant connection may deprive us of one of life’s most important assets: the time to pause, reflect, and engage in meaningful conversation.
❤One of the greatest individual challenges posed by new information technologies is privacy.
❤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.
-We must develop a comprehensive and globally shared view of how technology is affecting our lives and reshaping our economic, social, cultural, and human environments.
-We need to shape a future that works for all of us by putting people first and empowering them.
-All of us are responsible for guiding its evolution, in the decisions we make on a daily basis as citizens, consumers, and investors.
-In its most pessimistic, dehumanized form, the Fourth Industrial Revolution may indeed have the potential to “robotize” humanity and thus to deprive us of our heart and soul.
-Neither technology nor the disruption that comes with it is an exogenous force over which humans have no control.
-As a complement to the best parts of human nature—creativity, empathy, stewardship—it can also lift humanity into a new collective and moral consciousness based on a shared sense of destiny.