What changes will the Fourth Industrial Revolution bring to the world?

- Management-Dhawal Mehta

- New technology can create massive unemployment and a huge increase in income and wealth inequality. It will break the old global supply chain

The Industrial Revolution from Cho will bring great changes in human society. It will also change the way we work, as well as the interactions between human beings that human society has not yet experienced. We do not yet know at what speed and how this revolution will proceed.

Four revolutions: The first industrial revolution used water and steam to run machinery, railways or various types of engines. The second industrial revolution used electricity to generate mass production and it ushered in the era of mass production and mass marketing. The Third Industrial Revolution led to the development of information technology for production, distribution, and communication, based not only on electricity but also on the wonderful workings of electronics. Now the Fourth Industrial Revolution, which is coming to human society on the shoulders of the Third Industrial Revolution, has a wonderful blend and integration of Electronics, Biology and Materials Sciences as well as Nanotechnology. The speed of this last revolution is much faster than the previous three revolutions and its scope is also much larger. It is bringing about simultaneous changes in the production system, management and administration. Its prevalence is affecting every industry. For example, millions of people around the world are now connected through mobile phones. The power to store knowledge and information has become inexhaustible. There will be a lot of work to be done for the rapid collection of knowledge and information in the fields of robotics and artificial intelligence and for the artificial intelligence of their processing. This new knowledge will become and has become indispensable in the design of automatic cars or drones. Now is the time for quantum computation, not electronic computation, and there is a stark difference between the two in terms of speed. Against this background are new discoveries in material sciences (especially physical and chemistry). The discovery of material sciences as well as rapid data processing have also been found to be very useful in inventing new drugs. The new digital revolution has also entered anthropology and hence new techniques have been discovered to improve human health. Yet the human body is so complex that it will take decades to unravel.

The first three industrial revolutions have increased the prosperity of the world and the income of the people. Of course, the unequal distribution of newly created wealth requires a proper political strategy, which is a separate issue and demands a separate discussion, but it is clear that every industrial revolution has invented many new things (e.g. plastic or Stainless steel or penicillin or car, truck or tractor) which has increased human productivity. Human happiness has also increased. Now you can watch movies, listen to music or talk about happiness and sorrow with your relatives from anywhere in the world. Or commit crimes.

Fourth Revolution: The Fourth Industrial Revolution seems to be a miracle in the supply of goods. It will create new and faster global supply chains and it will make miraculous changes in the means of transportation but at the same time it will stir up the labor market. It is possible to break the old global supply chain and marginalize or even destroy many of today's successful industries.

R&D accounts are currently doing a tremendous job in most large industries. It is possible that the Fourth Industrial Revolution put them and their workers to work. Older research methods seem to be clumsy because artificial intelligence is still in its infancy. A new revolution can radically change the industrial or business structure. Because new technology platforms are being created in business industries. New business platforms create new services.

The creation of these new services will make a big difference in business management. It can be predicted that brand new collaborations of different businesses will arise. E.g. It is possible for the cosmetics industry to collaborate with the medical or engineering industry. The key question here is whether traditional politics will be able to keep pace with the speed and Parton of the Fourth Industrial Revolution. To achieve this, politicians will have to make a number of changes to their governing policies and procedures. We do not yet know what changes the Fourth Industrial Revolution will bring to the relations between nations and how to resolve conflicts between nations. It is unknown at this time what he will do after leaving the post.