Buckling Down for the Fourth Industrial Revolution

“Technology is neither good nor bad – it’s what you do with it that makes the difference.” – Mark Benioff[i]

Who would have thought that we would live in an era with self-driving cars, and scientists trying to develop the personality on robots? The famous writer Arthur C. Clarke pointed out that to an extent, technology and its advancement are unthinkable and magic-like, but that is the very nature of future technology. Perhaps it is a time for us to familiarize ourselves with the term Fourth Industrial Revolution, as it is being used to describe the vastly developing 21st-century industry. The term industrial revolution itself can be understood as a major transition happening in the industrial sector which alters the dynamics of humankind. According to Arthur Schwab, the Executive Chairman of the World Economic Forum, accounting all the past revolutions from the first revolution, with water and steam mechanizing works; followed by the second revolution where electricity was used for mass production; and the third revolution where electronics and information technology could automate production; the fourth industrial revolution will be a fusion of technologies that are blurring the lines between the physical, digital, and biological spheres.[ii]  Ben Rossi stated that the existence of Internet of Things (IoT) is the heart of the Fourth Industrial Revolution.  His argument is based on IoT’s capability to handle enormous data in large variety, velocity, and volumes, allowing these machines to inform their health and status in real time, increasing their production efficiency and throughput.[iii] Nowadays, these machines can analyze themselves through sophisticated algorithm.

Artificial intelligence (AI) is cautiously welcomed into the Fourth Industrial Revolution as, according to Scientific American, policy makers are deemed as unprepared to welcome the revolution.  Until now, despite knowing the great extent of advancement, we have not known the scope and rate of change the key technologies, especially for AI, would create.[iv] Aside from that, reacting to Schwab’s prediction, Dr. Teck-Boon Tan from the Rajaratnam School of International Studies asserts that we should expect few from disruptive forces which are coming to play. The revolution will eliminate a significant number of jobs in various sectors and it could cause political instability as unemployment surfaces, while sequentially job growth can be minimal as well due to the fact that most works will be filled by AI-enabled robotics.[v] Whilst, David Lye, the director of Sami Consulting begs to differ, as he avers that the Fourth Industrial Revolution will give citizens the ability to use technology to seek greater autonomy which will challenge the power of government and institutions in a disruptive way, and that the primary difficulty would be maintaining social cohesion.[vi] Despite the fear-mongering forecast, we must not disregard the benefits that Fourth Industrial Revolution can offer in the field of medicine, environment, and disaster risk reduction. In the beginning of 2017, the Fourth Industrial Revolution became front page media sensation with the usual opposing polars of those who are in favor and those who are going against it. Many thinkers thought that it was about time to acknowledge the revolution while many reciprocate in fearful narratives.  

It is without a doubt that the older revolutions were pivotal historical moments for humans, with the magnitude of changes that altered how the world works; and now we are on the brink of that. We cannot dismiss how in the past the industrial revolutions became the main triggers of war, mass migration, and global inequality. If history is any indication, then the way-out to avert such catastrophe is a multi-stakeholder collaboration; a people-government-market synergy that includes all these elements into account as we proceed towards the Fourth Industrial Revolution. In this case, various governments have prepared their measure for mitigation by creating the task force to prepare the country to face the rapid speed of technology. By finding a strategy that could incorporate state’s system into the revolution, South Korea, Singapore, United Arab Emirates, and many others will be part of the stream instead of going against it.[vii][viii][ix]The effort to initiatively take part in the revolution has been pulled out by many governments around the world as well. Efforts pulled out by governments are at least apparent in many areas, but indeed many adjustments are still needed to be pushed forward, especially on education and legal frameworks. Thus, this only further affirms the needs of triple-helix approach in facing the Fourth Industrial Revolution as a way to coalesce with the revolution without causing detrimental disruption in society.

Lastly, it becomes necessary for the people to be informed with the upcoming revolution regardless of where they are. It is not a case of developing or developed countries anymore as the nature of the digital aspect of this revolution looks beyond the entangling national boundaries and bureaucracies. Paraphrasing Mark Benioff in the first paragraph, in this condition the Fourth Industrial Revolution is inevitable, it will come with all of its forces in form of technology, and it is up to us to interpret the condition and make a difference. It is paramount for us to create a common set of principles and values that could take us to the kind of future that we want.         

Picture: Smartnernet

[i] Benioff, M. (2017). We must ensure the Fourth Industrial Revolution is a force for good. [online] World Economic Forum. Available at: https://www.weforum.org/agenda/2017/03/we-must-ensure-the-fourth-industrial-revolution-is-a-force-for-good/ [Accessed 20 Apr. 2017].

[ii] Schwab, K. (2016). The Fourth Industrial Revolution: what it means and how to respond. [online] World Economic Forum. Available at: https://www.weforum.org/agenda/2016/01/the-fourth-industrial-revolution-what-it-means-and-how-to-respond/ [Accessed 20 Apr. 2017].

[iii] Rossi, B. (2017). The Fourth Industrial Revolution: Technology alliances lead the charge. [online] Information Age. Available at: http://www.information-age.com/fourth-industrial-revolution-technology-alliances-lead-charge-123465633/ [Accessed 20 Apr. 2017].

[iv] Brynjolfsson, E. (2017). We Must Track How Technology Is Changing Work. [online] Scientific American. Available at: https://www.scientificamerican.com/article/we-must-track-how-technology-is-changing-work/ [Accessed 20 Apr. 2017].

[v] Teck Boon, T. (2016). Weapons of Mass Disruption: The Fourth Industrial Revolution is Here. [online] International Policy Digest. Available at: https://intpolicydigest.org/2016/10/30/weapons-mass-disruption-fourth-industrial-revolution-is-here/ [Accessed 20 Apr. 2017].

[vi] Lye, D. (2017). The Fourth Industrial Revolution And Challenges For Government. [online] GE Reports. Available at: http://www.gereports.com/fourth-industrial-revolution-challenges-government/ [Accessed 20 Apr. 2017].

[vii] Gulf News (2017). UAE unveils Fourth Industrial Revolution Council. [online] Gulf News. Available at: http://gulfnews.com/business/economy/uae-unveils-fourth-industrial-revolution-council-1.2001864 [Accessed 20 Apr. 2017].

[viii] Park, S. (2017). What’s With South Korea’s Fuss About the Fourth Industrial Revolution?. [online] Korea Expose. Available at: https://koreaexpose.com/fourth-industrial-revolution/ [Accessed 20 Apr. 2017].

[ix] Yan Min, C. (2017). Local factories gearing up for Fourth Industrial Revolution. [online] The New Paper. Available at: http://www.tnp.sg/news/business/local-factories-gearing-fourth-industrial-revolution [Accessed 20 Apr. 2017].