The Fourth Industrial Revolution

The Fourth Industrial Revolution

Klaus Schwab coined the term ‘fourth industrial revolution.’ It refers to the use of technology to move between digital platforms and offline realities. The objective of this shift is to better manage people’s lives. This industrial revolution has been preceded by the first, second, and third revolutions. While certain aspects characterize each of the revolutions, the four revolutions have built upon each other, leading to the current changes. However, the fourth revolution has remarkable shifts in both power and wealth as well as knowledge, leading to its uniqueness (Xu, David, & Kim, 2018). The technological aspects associated with the revolution are beneficial to all if they are initially easily pointed out. Do you need help with your assignment ? Get in touch with us at eminencepapers.com.

The fourth revolution began in 2000 and continued all the way to 2010. The main energy resource that is used most is green energy. The main achievements that have resulted from the revolution include the internet, genetic engineering, and 3D printers. Various unique aspects are associated with the Fourth Industrial Revolution. Firstly, the productivity within each revolution increases by 50 times beyond the previous revolution. Secondly, the jobs that were created in the past revolution tend to be replaced by the new age. As observed today, most of the jobs that were created during the industrial age are being replaced due to technological advancements. Thirdly, today, more workers mentally produce services and goods than manually. Today, most entities use employees to create competitive advantages. In addition, the styles of management have changed drastically in comparison to those used in past ages. During the industrial age, workers were motivated to perform manual labor as a way to increase their productivity. Today, managers are more concerned with motivating employees to release their potential as human beings. Thus, this shift requires the use of different motivation tools and procedures as well as the provision of different opportunities that increase the workers’ knowledge (Xu, David, & Kim, 2018).

The fourth industrial revolution is beyond human control in terms of threats and opportunities. However, this revolution is expected to change the future depending on its impacts on both businesses and governments. An expected reduction in the barriers between the markets and inventors is due to the new technologies. Thus, it is possible for entrepreneurs to create prototypes of their ideas and set up small companies at lower costs. This eliminates the high barriers to entry that are associated with the technology sector and other industries that rely on these advancements (Deloitte Development LLC., 2018). In addition, the use of technology to improve current tools is expected to create efficiency and reduce the negative effects on the natural environment. For instance, the new electric vehicles reduce the negative effects of gasoline combustion on the natural environment. The innovation also creates vehicles that are more efficient.

Regardless of the numerous opportunities that the fourth industrial revolution created, threats that accompany the age are numerous. The displacement of people from their working positions increases unemployment. This breeds technology crimes such as cybercrimes and hacking. The extensive connection to the internet places a real security threat to the users at a personal and organizational level. Annoyed employees may intentionally pose such harm to their former employers. Thus, individuals and companies must continuously assess their risk of exposure to the internet and the security of the information uploaded to different storage options such as hardware or clouds. The fourth industrial revolution has shown great uniqueness due to the extent of its positive impacts (Liao, Loures, & Deschamps, 2018). However, users are obliged to be more careful when using devices that are created through innovations.

References

Deloitte Development LLC. (2018). The Fourth Industrial Revolution is here—are you ready?

Liao, Y., Loures, E. R., & Deschamps, F. (2018). The impact of the fourth industrial revolution: a cross-country/region comparison. Production, 28.

Xu, M., David, J. M., & Kim, S. H. (2018). The Fourth Industrial Revolution: Opportunities and Challenges. International Journal of Financial Research, 9(2), 90.

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The Fourth Industrial Revolution

Write a two-page paper on the Industry 4.0 or, commonly referred to as the Fourth Industrial Revolution. In order to receive full credit, the paper must have An APA title page. Double Spaced 12 Font, Times New Roman A REFERENCES Page in APA format. Three APA references.