The Fourth Industrial Revolution, or 4IR, is the fourth major industrial era since the initial Industrial Revolution of the 18th century. The Fourth Industrial Revolution can be described as a range of new technologies that are fusing the physical, digital and biological worlds, and impacting all disciplines, economies, and industries. Klaus Schwab has compared it to the Second Machine Age in terms of the effects of digitization and AI on the economy, but added a broader role for advanced biological technologies.
In his book, The Fourth Industrial Revolution, Professor Klaus Schwab, Founder and Executive Chairman of the World Economic Forum, describes how this fourth revolution is fundamentally different from the previous three, which were characterized mainly by advances in technology. These technologies have great potential to continue to connect billions more people to the web, drastically improve the efficiency of business and organizations and help regenerate the natural environment through better asset management.
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