The promise and challenges of the fourth industrial revolution (4IR)

2021 ◽  
pp. 204388692110569
Author(s):  
Pratim Datta

The fourth Industrial Revolution is upon us. Yet not many students understand its evolution or impacts. This teaching case looks at socio-technical evolution from 1IR (First Industrial Revolution) to 4IR (Fourth Industrial Revolution). The teaching case concludes by exemplifying 4IR’s promises and perils with a mini case on how 4IR that quietly helped the COVID-19 vaccine development can also pose cyberthreats and erode privacy.

Author(s):  
Klaus Schwab

The rapid pace of technological developments played a key role in the previous industrial revolutions. However, the fourth industrial revolution (Industry 4.0) and its embedded technology diffusion progress is expected to grow exponentially in terms of technical change and socioeconomic impact. Therefore, coping with such transformation require a holistic approach that encompasses innovative and sustainable system solutions and not just technological ones. In this article, we propose a framework that can facilitate the interaction between technological and social innovation to continuously come up with proactive, and hence timely, sustainable strategies. These strategies can leverage economic rewards, enrich society at large, and protect the environment. The new forthcoming opportunities that will be generated through the next industrial wave are gigantic at all levels. However, the readiness for such revolutionary conversion require coupling the forces of technological innovation and social innovation under the sustainability umbrella.


2019 ◽  
Vol 8 (1) ◽  
Author(s):  
Nguyen Duy Dung

Characteristics of the industrial revolution 4.0 is the wide application of high-tech achievements, especially information technology, digitalization, artificial intelligence, network connections for management to create sudden changes in socio-economic development of many countries. Therefore, to reach the high-tech time, many magazines in Vietnam have changed dramatically, striving to reach the international scientific journal system of ISI, Scopus. The publication of international standard scientific journal will meet the demand of publishing research results of local scientists, on the other hand contribute to strengthening exchange, cooperation, international integration in science and technology.


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