“Industry 4.0 will be a total transformation of the economy. Whether one chooses to embrace it or not, it is inevitable. We need to organize ourselves to participate in and make plans for it.” – Datuk Seri Wilfred Madius Tangau, Minister of Science, Technology, and Innovation for Malaysia.
Image: REUTERS/Maxim Shemetov
We have seen technology take giant leaps of progress through different generations. First came the steam and water power; then electricity which led to inventions like the light bulb and the telegraph; then the rise of computing …. So, what is next?
Today we are on the brink of the Fourth Industrial revolution led by the widespread of the internet and technological advancements. This technological revolution seems to be changing the way we live, work, and communicate. It has the power to reshape businesses, governments, healthcare- almost all aspects of our life. It will not only change the way we do things but also change who we are.
The evolution of technology has made our lives easier. Education and access to information have tremendously improved with the advent of powerful computing devices and digital services. The social media revolution brought by digital platforms like Facebook and Twitter has given millions of people the chance to communicate and voice their opinions and become socially responsible. This technological era has brought entirely new products and services to the market and has given us the chance to learn and earn in new ways.
I am certain about the power of the technological revolution and its ability to change the world. It is full of benefits, but also fraught with risks.
Social media can bring billions of people together, but also socially divide them. It can also give voice to hate speech, fake news, and cyberbully. Further, being connected all the time can also lead to the overload of information and data.
Now is the Fourth Revolution the road to a better society for all? Well, the power of technology has for sure made people more connected, open new markets and drive economic growth. But it might not assure an inclusive economy as the wealth generated often serve the interest of a small, powerful group of people. Many people have still not benefited from the previous industrial revolution.
“At least 600 million people live on smallholder farms without access to any mechanization, living lives largely untouched by the first industrial revolution.” -Klaus Schwab ( from Shaping the Fourth Industrial Revolution)
In the coming years, our potential will evolve alongside with the technologies we create, and it is our responsibility to come up with guardrails that will keep the technological revolution on track to benefit all humanity. We should be able to manage the potential negative aspects it can have and continue to build positive values into the technology we create.
Reference:
https://www.weforum.org/agenda/2016/01/the-fourth-industrial-revolution-what-it-means-and-how-to-respond/
https://www.weforum.org/agenda/2015/02/are-you-ready-for-the-technological-revolution/
http://www.manilatimes.net/4th-industrial-revolution-ready/354812/
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