The fourth wave of industrialisation is upon us!
When we look at how technology has progressed over the past centuries we can identify some distinct trends. Firstly technological growth is exponential, in other words, the more we progress, the faster we progress.
The fourth wave of industrialisation represents a fundamental change in the way we live, work and relate to one another. It is a new chapter in human development, enabled by extraordinary technology advances commensurate with those of the first, second and third industrial revolutions. (World Economic Forum)
Secondly, we can note several phase transitions in technological growth. These can be identified as:
- The industrial revolution – driven by coal and steam power.
- The electric age – where we harnessed the power of electricity and magnetism.
- The information age – came with an understanding of quantum mechanics which led to the development of the transistor, microprocessors and the internet
- The fourth wave of industrialisation, we believe, will be defined by nanotechnology, biotechnology, and artificial intelligence.
The Fourth Wave of Industrialisation - World Economic Forum
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