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Even though the world has seen several industrial revolutions over the past two centuries, the fourth industrial revolution will change the world in ways humanity has never experienced. This revolution is similar to past ones in that it will raise income levels and quality of life; however, it could also lead to greater financial inequality by disrupting key middle-class labor markets. The technology utilized is having a profound impact on businesses both established and new on the supply side and customers on the demand side. Governments are also having to evolve the way they govern their citizens and in particular may be the organizations that face the most difficulty adapting having the most to fear in evolving. The technology being developed will have a major impact on life in general; the way humans communicate, consume, work, and develop relationships will change drastically over the next several years. The way this technology will be implemented will ultimately depend on people and the values that they hold.
This article helped put the world’s current changing into perspective. When in the workplace, I must think of the implications of the work that I do in many different aspects. The possible benefits of the technology developed need to be great while the possible harm needs to be miniscule if not nonexistent. The tools I make must act as a complement to the very best that humanity offers and a deterrent to the bad.
I do agree with the main points that Schwab presented, but I believe one should have been displayed with greater emphasis. Technology is on pace to globally put millions of people out of work. Transportation, for example, is a major industry that employs over three million people and with the advent of self-driving cars is likely to disappear within the next decade or two. The thirty industries that employ the most people in the US are all ripe for automatization, and the notion that the new technology will push all of those people to better jobs is na?ve.
While the Fourth Industrial Revolution may ultimately divide and “robotize” humanity, it has the ability to elevate us to new levels of success and innovation. As a society we must take hold of this industrial revolution and use it to make a future that mirrors common objectives and values. Everyone has the responsibility to guide its evolution through the decisions that we make daily.
I totally agree with the conclusion presented. Automation is certainly inevitable and very daunting; however, it is not uncontrollable and inherently bad. The outcome depends how individuals will utilize the tools given to them and how societies treat the tools at their disposal.
Matt. 25:29 “For unto every one that hath shall be given, and he shall have abundance: but from him that hath not shall be taken away even that which he hath.” This verse is part of the parable of the talents and reminds us that we need to correctly utilize what we are given or else we will lose what was given to us.
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