Written by

Bernard Marr

Bernard Marr is a world-renowned futurist, influencer and thought leader in the fields of business and technology, with a passion for using technology for the good of humanity. He is a best-selling author of 20 books, writes a regular column for Forbes and advises and coaches many of the world’s best-known organisations. He has over 2 million social media followers, 1 million newsletter subscribers and was ranked by LinkedIn as one of the top 5 business influencers in the world and the No 1 influencer in the UK.

Bernard’s latest book is ‘Business Trends in Practice: The 25+ Trends That Are Redefining Organisations’

View Latest Book

Follow Me

Bernard Marr ist ein weltbekannter Futurist, Influencer und Vordenker in den Bereichen Wirtschaft und Technologie mit einer Leidenschaft für den Einsatz von Technologie zum Wohle der Menschheit. Er ist Bestsellerautor von 20 Büchern, schreibt eine regelmäßige Kolumne für Forbes und berät und coacht viele der weltweit bekanntesten Organisationen. Er hat über 2 Millionen Social-Media-Follower, 1 Million Newsletter-Abonnenten und wurde von LinkedIn als einer der Top-5-Business-Influencer der Welt und von Xing als Top Mind 2021 ausgezeichnet.

Bernards neueste Bücher sind ‘Künstliche Intelligenz im Unternehmen: Innovative Anwendungen in 50 Erfolgreichen Unternehmen’

View Latest Book

Follow Me

Why Everyone Must Get Ready For 4th Industrial Revolution

2 July 2021

First came steam and water power; then electricity and assembly lines; then computerisation… So what comes next?

Some call it the fourth industrial revolution, or industry 4.0, but whatever you call it, it represents the combination of cyber-physical systems, the Internet of Things, and the Internet of Systems.





In short, it is the idea of smart factories in which machines are augmented with web connectivity and connected to a system that can visualise the entire production chain and make decisions on its own.

And it’s well on its way and will change most of our jobs.

Professor Klaus Schwab has published a book entitled The Fourth Industrial Revolution in which he describes how this fourth revolution is fundamentally different from the previous three, which were characterised mainly by advances in technology.

In this fourth revolution, we are facing a range of new technologies that combine the physical, digital and biological worlds. These new technologies will impact all disciplines, economies and industries, and even challenge our ideas about what it means to be human.

These technologies have great potential to continue to connect billions more people to the web, drastically improve the efficiency of business and organisations and help regenerate the natural environment through better asset management, potentially even undoing all the damage previous industrial revolutions have caused.

But there are also grave potential risks.  Schwab outlines his concerns that organisations could be unable or unwilling to adapt to these new technologies and that governments could fail to employ or regulate these technologies properly. In the book he postulates that shifting power will create important new security concerns, and that inequalities could grow rather than shrink if things are not managed properly.

For example, as automation increases, computers and machines will replace workers across a vast spectrum of industries, from drivers to accountants and estate agents to insurance agents. By one estimate, as many as 47 percent of U.S. jobs are at risk from automation.

Many experts suggest that the fourth industrial revolution will benefit the rich much more than the poor, especially as low-skill, low-wage jobs disappear in favor of automation.

But this isn’t new.  Historically, industrial revolutions have always begun with greater inequality followed by periods of political and institutional change.  The industrial revolution that began at the beginning of the 19th century originally led to a huge polarisation of wealth and power, before being followed by nearly 100 years of change including the spread of democracy, trade unions, progressive taxation and the development of social safety nets.

It seems a safe bet to say, then, that our current political, business, and social structures may not be ready or capable of absorbing all the changes a fourth industrial revolution would bring, and that major changes to the very structure of our society may be inevitable.

Schwab said, “The changes are so profound that, from the perspective of human history, there has never been a time of greater promise or potential peril. My concern, however, is that decision makers are too often caught in traditional, linear (and non-disruptive) thinking or too absorbed by immediate concerns to think strategically about the forces of disruption and innovation shaping our future.”

In order to thrive, business leaders will have to actively work to expand their thinking away from what has been traditionally done, and include ideas and systems that may never have been considered. Business leaders must begin questioning everything, from rethinking their strategies and business models, to discovering the right investments in training and potentially disruptive R&D investments. 

The future is happening around us.  And we must rise to the challenge to meet it and thrive in the new industrial revolution.

Business Trends In Practice | Bernard Marr
Business Trends In Practice | Bernard Marr

Related Articles

Explainable AI: Challenges And Opportunities In Developing Transparent Machine Learning Models

One of the biggest problems with artificial intelligence (AI) is that it’s very difficult for us to understand how it works – it’s just too complicated![...]

Here’s What The Future Of The Internet Will Look Like

It's difficult to predict exactly what the future internet will look like because new technology is evolving so quickly — but there is no doubt that the newest iteration of the web will transform virtually every part of our economy and society.[...]

How Panini Is Using Web3 To Create Digital Markets And Collectibles

Globally, Panini is the biggest name in the sports trading card business – a household name in its own right, with partnerships in place with global brands, including FIFA, Disney, and NASCAR.[...]

5 Reasons Why You Should Care About Web3

Web3 has the potential to disrupt pretty much everything we know about life online and who controls it.[...]

Universal Studios, The Metaverse, And The Future of Theme Parks

Universal Studios theme parks are constantly evolving to keep up with changing technology — and one of the most exciting recent developments has been the integration of metaverse technologies into Universal’s attractions.[...]

From Diagnosis To Treatment: 10 Ways AI Is Transforming Healthcare

AI is poised to revolutionize how we approach and address global health challenges. Dive into this post to explore the top 10 ways AI is positively impacting the healthcare landscape.[...]

Stay up-to-date

  • Get updates straight to your inbox
  • Join my 1 million newsletter subscribers
  • Never miss any new content

Social Media

0
Followers
0
Followers
0
Followers
0
Subscribers
0
Followers
0
Subscribers
0
Yearly Views
0
Readers

Podcasts

View Podcasts