The Pros And Cons Of The Fourth Industrial Revolution

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The Fourth Industrial Revolution is near at its start The industrial revolution has been a part of the rapid progress of the society that affects living situation, productivity and technology. The first industrial revolution involved the introduction of water and steam power to mechanize production. The second industrial revolution harnessed electric power to facilitate mass production, leading to the development of the internal combustion engine such as the aeroplane and moving pictures. The third industrial revolution, in the 1960s, used electronics and information technology to automate the same production, giving rise to digital technologies such as computers and internet. As of now, the fourth industrial revolution have started to rise. …show more content…

The revolution has the potential to increase the standard living for all but at the same time it will undoubtedly eliminate many manufacturing and manual jobs. Optimists think that new, not-yet-discovered service-oriented jobs will be created to take their place while pessimists see a jobless future for low-skill workers and an increase in social tensions. The truth is likely to be somewhere in the middle. The drawbacks, however, it is possible that organizations might be unable or unwilling to adapt, governments could fail to employ or regulate these technologies properly. It is possible that inequalities could grow rather than shrink if things are not managed properly. Another problem is that the largest beneficiaries of all the change will be the providers of intellectual and physical capital, the innovators and investors, this will cause a rising gap in wealth between those dependent on capital against those dependent on labor since automation is possible for implementation. In the end, the fourth industrial revolution is within the control of all people as long as they are able to collaborate across geographies, sectors, and disciplines to grasp the opportunities it

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