Editor's Note

Industry 4.0

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The Fourth Industrial Revolution (“4IR” or “Industry 4.0”), a term coined by world-renowned founder and executive chairman of the World Economic Forum (“WEF”) Klaus Schwab, he describes it as the proliferation of emerging technological developments through the blurring of boundaries between the physical, digital and biological worlds. It is characterised by the fusion of advances in artificial intelligence (AI), robotics, the Internet of Things (IoT), 3D printing, genetic engineering, quantum computing, and other technologies. In a nutshell, 4IR is the fusion of technologies which enables change.

Because of the rapidly growing connectivity between billions of people and the ease with which we can access information, there is no doubt that the 4IR is radically changing the ways in which we live our lives, and disrupting virtually every business sector.

TSchwab also notes thathe Fourth Industrial Revolution, finally, will change not only what we do but also who we are. “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,” he explains.

Equality

Industrial revolutions have been portrayed as the road to a better future for all, but increasing innovation does not necessarily mean a more open, diverse and inclusive society. Previous revolutions have shown us that technology and its wealth generation can serve the interests of small, powerful groups above the rest. And according to the WEF Global Risks Report 2017, the economic benefits of 4IR are becoming increasingly concentrated among a small group.

Connectivity

Social media can remove borders and connect people, and the social media revolution embodied by Facebook, Twitter, and Tencent has given people a voice and means to communicate instantly across the globe. Today, more than 30% of the people in the world use social media to communicate and stay on top of world events.

The future is bright in the tech era, however as with all previous revolutions there are areas of concern. As you enjoy the latest instalment of this fantastic publication remember that the time to look at the future is now.

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