What is the Fourth Industrial Revolution?
The Fourth Industrial Revolution (4IR), also known as Industry 4.0, refers to the rapid technological, industrial, and societal changes in the 21st century. Increasing interconnectivity and smart automation drive these changes. Klaus Schwab, Founder and Executive Chairman of the World Economic Forum, popularised the term in 2015. Schwab argues that this revolution marks a significant shift in industrial capitalism, not just improvements in efficiency.
In this revolution, technologies such as artificial intelligence (AI), gene editing, and advanced robotics converge. These innovations blur the boundaries between the physical, digital, and biological worlds. As a result, industries are experiencing profound changes in how global production and supply networks operate. Modern smart technology, large-scale machine-to-machine (M2M) communication, and the Internet of Things (IoT) enable the automation of traditional manufacturing and industrial practices. This integration increases automation, enhances communication, and allows smart machines to monitor and diagnose issues without human intervention.
Beyond technology, the Fourth Industrial Revolution signals a social, political, and economic shift. We are transitioning from the digital age of the late 1990s and early 2000s to an era of embedded connectivity. In this new era, technology is ubiquitous in society, transforming how people experience and interact with the world. Concepts like the metaverse and augmented social reality suggest that humans are entering a world where natural senses and industrial abilities are enhanced by digital innovations.
Ultimately, the Fourth Industrial Revolution redefines how humans live, work, and interact with the world, ushering in a new era of technological integration and societal transformation.