The 4th Industrial Revolution is largely driven by four specific technological developments: high-speed mobile Internet, AI and automation, the use of big data analytics, and cloud technology.
One of the main effects among these four categories is increased human productivity with technologies like AI and automation augmenting our professional lives, we're able to make smart choices, faster than ever before.
Effects that makes better:
Online shopping and delivery services—including by drone—are already redefining convenience and the retail experience. The ease of delivery can transform communities, even in remote places, and jumpstart the economies of small or rural areas.
The social media revolution embodied by Facebook, Twitter, and Tencent has given everyone a voice and a way to communicate instantly across the planet. Today, people in the world use social media services to communicate and stay on top of world events.
In the physical realm, advances in biomedical sciences can lead to healthier lives and longer life spans. They can lead to innovations in neuroscience, like connecting the human brain to computers to enhance intelligence or experience a simulated world. Imagine all that robot power with human problem-solving skills.
Advances in automotive safety through Fourth Industrial Revolution technologies can reduce road fatalities and insurance costs, and carbon emissions. Autonomous vehicles can reshape the living spaces of cities, architecture, and roads themselves, and free up space for more social and human-centered spaces.
Digital technology can liberate workers from automatable tasks, freeing them to concentrate on addressing more complex business issues and giving them more autonomy. It can also provide workers with radically new tools and insights to design more creative solutions to previously insurmountable problems.
Effects that makes worse:
Biotechnology can lead to controversial advances such as designer babies, gene drives (changing the inherited traits of an entire species), or implants required to become competitive candidates for schools or jobs. Innovations in robotics and automation can lead to lost jobs, or at least jobs that are very different and value different skills.
Artificial intelligence, robotics, bioengineering, programming tools, and other technologies can all be used to create and deploy weapons.
Social media can erase borders and bring people together, but it also can also intensify the social divide. And it gives voice to cyber-bullying, hate speech, and spreading false stories. We have to decide what kind of social media rules we want to create, but we also have to accept that social media is reshaping what we value and how we create and deploy those rules.
The societal impacts of the 4th Industrial Revolution also appear likely to be far-reaching, resulting not only in the social and economic impacts of the loss of many current jobs, but also fundamental, and increasingly volatile shifts in the nature of work and future jobs.
Advantages of 4th Industrial Revolution:
In the case of the Fourth Industrial Revolution, the advantages are evident:
The Fourth Industrial Revolution and the technological advances it brings are changing our lives as politicians, business leaders, and academics try to keep up. The Fourth Industrial Revolution (4IR) is here.
As the physical, digital, and biological worlds collide through advances in technology, the Fourth Industrial Revolution is drastically changing the way we live, work, and communicate. If used correctly, new technologies can be powerful tools for good. Artificial Intelligence can increase productivity by developing systems that can automate simple tasks, allowing workers to focus on complex issues. Businesses and individuals can take advantage of 4IR by adopting technologies that allow them to reduce costs and make better and faster decisions.
Many experts believe that we are now in the early stages of the Fourth Industrial Revolution, an era combining digital, physical and biological systems in a way never seen before. Virtual Reality (VR), Augmented Reality (AR), Artificial Intelligence (AI) and robotics are changing the way that we live and work and the rapid pace of change is disrupting almost every industry in every country.
The Fourth Industrial Revolution gives us the tools we need to battle this global threat (COVID-19). Several AI models have been used in China to increase diagnostic rates by interpreting radiographic results in a fraction of the time required for human intervention, thereby filling gaps resulting from unavailable clinical expertise. China has also harnessed the power of robots and drones, which have proven instrumental in reducing interpersonal contact by facilitating the delivery of food and medication and the disinfection of public spaces.
These tools of tomorrow have considerably enabled and enhanced our efforts in this global response, but good execution must be balanced by good strategy. Countries that are unable to immediately harness the capabilities of the Fourth Industrial Revolution must rely on swift and strategic action. Where our leaders simply do not have the hands of technology to combat this threat, they must have the heart, brain, muscle, nerve and soul – elements of leadership as described by the Founder and Executive Chairman of the World Economic Forum, Klaus Schwab. They may very well be our saviour in this fight for humanity.
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