![]() ![]() ![]() ![]() ![]() This was also subject and title of Schwab's 2016 book. On 10 October 2016, the Forum announced the opening of its Centre for the Fourth Industrial Revolution in San Francisco. "Mastering the Fourth Industrial Revolution" was the 2016 theme of the World Economic Forum Annual Meeting, in Davos-Klosters, Switzerland. Klaus Schwab, executive chairman of the World Economic Forum (WEF), introduced the phrase to a wider audience in a 2015 article published by Foreign Affairs. The phrase Fourth Industrial Revolution was first introduced by a team of scientists developing a high-tech strategy for the German government. It posits that we have created and are entering an augmented social reality compared to just the natural senses and industrial ability of humans alone. a metaverse) that changes the ways humans experience and know the world around them. It also represents a social, political, and economic shift from the digital age of the late 1990s and early 2000s to an era of embedded connectivity distinguished by the ubiquity of technology in society (i.e. This integration results in increasing automation, improving communication and self-monitoring, and the use of smart machines that can analyse and diagnose issues without the need for human intervention. Throughout this, fundamental shifts are taking place in how the global production and supply network operates through ongoing automation of traditional manufacturing and industrial practices, using modern smart technology, large-scale machine-to-machine communication (M2M), and the Internet of things (IoT). Ī part of this phase of industrial change is the joining of technologies like artificial intelligence, gene editing, to advanced robotics that blur the lines between the physical, digital, and biological worlds. The term was popularised in 2016 by Klaus Schwab, the World Economic Forum founder and executive chairman, who says that the changes show a significant shift in industrial capitalism. " Fourth Industrial Revolution", " 4IR", or " Industry 4.0" is a buzzword and neologism describing rapid technological advancement in the 21st century. ![]()
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