This research looks at Fourth industrial revolution and the evolution of industrialization. The fourth industrial revolution has been more disruptive especially with the advances of technology. Humans are now more dependent to technology as a magical formula to make life easier, like access to information, Digital solutions, Physical and biological systems.
Modern society has seen three industrial revolution and the fourth industrial revolution will be unpacked and understanding its impact. The current technological trends continue to raise concerns around the impact on humans and how they will relate to each other and how they will cohabit with machines, robots and smart devices. With the advancement of technology in the fourth industrial revolution there are questions, uncertainties and curiosity around how the future will look like.
Throughout human kind, change has been inevitable and evolution has changed nature and adapted conditions to environment, and changed animals and humans to what they are today. The evolution of industries and technology is also expected, which has made the impossible to be possible. This project will touch on the history of the Industrial revolution, from the 1st Industrial revolution where we saw a major boost in the British economy and it featured, emergence of mechanization, creation of steam engine, socioeconomic and cultural advances. The 2ndIndustrial revolution has seen the new innovations in steel production, petroleum and electricity led to the introduction of public automobiles and airplanes. The 3rd Industrial revolution where we have seen the advanced energy in the form of nuclear, the advancement of telecommunications and computers, The space exploration and Automated production. This project will concentrate more on the insights of the 4th industrial revolution and its components.
Over the course of history mankind could perfect its own industry which begun in the late 1700 to early 1800 century in Britain and from there it started to spread to some parts of the world. The industrial revolution saw the movement of people from rural areas to urban areas where factories and textile mills were built across Britain. The modern cities and towns were constructed as people were seeking for urbanisation. A new source of power was developed as electricity was discovered and they started to build the steam engines. The growth of population in the inner cities saw an improved transport system like building of the roads and rail way lines.
In the years between 1870 to mid1900(1940’s to 50’s) the second Industrial revolution generation introduced the electricity, suddenly factories were powered and street lights were introduced. Steel industry developed faster and the demand for steel grew rapidly. Communications technology like telegraph and telephone system were also enhanced and became even more popular. Internal combustion engine was created which led to the creation of automobiles and Karl Benz with Mercedes Benz, then came Gottlieb Daimler, and Hendry Ford with Ford motor corporation.
The third generation introduced automation which made production line faster and more rapidly. Nuclear energy was discovered as form of powerful energy. Telecommunications and computers advanced which led to new technology to research space explorations and the introduction of biotechnology.
The forth Industrial Revolution
The forth industrial revolution is more disruptive than the previous industrialisation, this the time when man and machine came together, it is the time when artificial intelligence will work to create more value and outcome as never been seen before.
More smart factories using cyber robotic system will be established and manufacturing operations will become more digital where products will become carriers of information and steers themselves in the production line. This will increase transparency of value chain which will integrate demand and supply and maximize operational performance. Big data science will provide insights and transform data into actionable information making operations smarter. This will help with efficient use of assets and lower operational costs and improve ROI.
The technology hype cycle will be at the centre of the fourth industrial revolution. As technology evolve, businesses will have to understand the hype cycles to make right decisions and stay relevant to their consumers.
This might also be the age of isolation, where technology will forever be replacing human connection at an unimaginable pace. The buzz word has been “SMART”, this is the smartness exhibited by machines and computers, which includes smart phones, smart cities, smart factories, smart appliances like smart TVs. We have also seen the evolution airplanes being smart and autonomous cars are observed as smart.
Businesses will transform and smart factories will be established. Businesses will have to change their operating models. It will be critical for business leaders and senior executives need to understand their changing environment, challenge the assumptions of their operating teams, and relentlessly and continuously innovate and they will benefit from operational efficiency, they will save more time and reduce operational costs.
Governments will have more insights and gain the ability to control digital infrastructure.Gain new technological power to increase their control overpopulation.
The fourth Industrial revolution is exciting and there are massive opportunities ahead, there is no doubt that human lives will improve and they will be able to do things we have never been able to do before. Humans will have vast access to computing power, access to information is available in our fingertips, which means that with great power come great responsibility. Humans will have to be responsible and use the information available to create value in the world. Humans must exercise their power of access to information and acquire knowledge to help people in everyday life, and we must create value every single day. The challenging part is, technology is fast replacing human connection at high speed.
The fourth revolution will encounter the dominance of robotics, AI and deep learning which enables computers to teach themselves to grow and adapt as they’re exposed to new data, this might raise a threat and risk to human kind as they have an unimaginable power that can overcome human kind and take control if not regularized properly.
Poor countries with low education standards might be left behind as fourth industrial revolution might benefit the rich much more than the poor, especially as low-skill, low-wage jobs disappear in favor of automation.
We need to be open mind to the recent technology trends and adjust our thinking to the new ways of living which will include new ways of working, communicating, socializing, travelling and new consumer behavior. Humans will have to re-purpose themselves and they will require new knowledge, flexibility and work life balance. The future is exciting.