T he report that outlines SA’s strategy and planned response to the fourth industrial revolution (4IR) has been gazetted.. As automation substitutes for labor across the entire economy, the net displacement of workers by machines might exacerbate the gap between returns to capital and returns to labor. A world of customer experiences, data-based services, and asset performance through analytics, meanwhile, requires new forms of collaboration, particularly given the speed at which innovation and disruption are taking place. To do so, governments and regulatory agencies will need to collaborate closely with business and civil society. “What is the definition of the Fourth Industrial Revolution?”, “How can we respond to the Fourth Industrial Revolution in terms of institutions?”, “How can we respond to the Fourth Industrial Revolution in terms of technology?”, “How can we respond to the Fourth Industrial Revolution in terms of firm innovation and start-up strategy?” Brainstorming was conducted by 11 scholars from several countries to answer these four research questions. But such an approach is no longer feasible. The Fourth Industrial Revolution (or Industry 4.0) is the ongoing automation of traditional manufacturing and industrial practices, using modern smart technology. Please note that many of the page functionalities won't work as expected without javascript enabled. Engineers, designers, and architects are combining computational design, additive manufacturing, materials engineering, and synthetic biology to pioneer a symbiosis between microorganisms, our bodies, the products we consume, and even the buildings we inhabit. Published on January 3, 2017 January 3, 2017 • 30 Likes • 2 Comments If you are having any questions, please feel free to ask. However, they can also create and propagate unrealistic expectations as to what constitutes success for an individual or a group, as well as offer opportunities for extreme ideas and ideologies to spread. Lee, M.; Yun, J.J.; Pyka, A.; Won, D.; Kodama, F.; Schiuma, G.; Park, H.; Jeon, J.; Park, K.; Jung, K.; Yan, M.-R.; Lee, S.; Zhao, X. Technology alone can’t solve our greatest challenges. This means regulators must continuously adapt to a new, fast-changing environment, reinventing themselves so they can truly understand what it is they are regulating. Graham Brown-Martin asks how our global education systems can respond to what the WEF calls the “fourth industrial revolution”. It is a new chapter in human development, enabled by extraordinary technology advances commensurate with those of the first, second and third industrial revolutions. In its scale, scope, and complexity, the transformation will be unlike anything humankind has experienced before. Getting started. respond to the Fourth Industrial Revolution in terms of technology?”, “How can we respond to the Fourth Industrial Revolution in terms of firm innovation and start-up strategy?” Brainstorming was conducted by 11 scholars from several countries to answer these four research questions. To do this, however, we must develop a comprehensive and globally shared view of how technology is affecting our lives and reshaping our economic, social, cultural, and human environments. / 文 정부의 4차 산업혁명 대비 방안은? There has never been a time of greater promise, or one of greater potential peril. Therefore, we attempted to answer the following four research questions. An underlying theme in my conversations with global CEOs and senior business executives is that the acceleration of innovation and the velocity of disruption are hard to comprehend or anticipate and that these drivers constitute a source of constant surprise, even for the best connected and most well informed. This will give rise to a job market increasingly segregated into “low-skill/low-pay” and “high-skill/high-pay” segments, which in turn will lead to an increase in social tensions. The history of warfare and international security is the history of technological innovation, and today is no exception. We use cookies on our website to ensure you get the best experience. Lee M, Yun JJ, Pyka A, Won D, Kodama F, Schiuma G, Park H, Jeon J, Park K, Jung K, Yan M-R, Lee S, Zhao X. See further details. If they prove capable of embracing a world of disruptive change, subjecting their structures to the levels of transparency and efficiency that will enable them to maintain their competitive edge, they will endure. 2018; 4(3):21. Like the revolutions that preceded it, the Fourth Industrial Revolution has the potential to raise global income levels and improve the quality of life for populations around the world. Getting started. However, I am convinced of one thing—that in the future, talent, more than capital, will represent the critical factor of production. 22 Jul 2020 . We do not yet know just how it will unfold, but one thing is clear: the response to it must be integrated and comprehensive, involving all stakeholders of the global polity, from the public and private sectors to academia and civil society. When compared with previous industrial revolutions, the Fourth is evolving at an exponential rather than a linear pace. These new platform businesses are rapidly multiplying into many new services, ranging from laundry to shopping, from chores to parking, from massages to travel. We should thus grasp the opportunity and power we have to shape the Fourth Industrial Revolution and direct it toward a future that reflects our common objectives and values. The fourth industrial revolution. The Fourth Industrial Revolution represents a fundamental change in the way we live, work and relate to one another. E-Mail: cs@equationsdigital.com, ©2019-2020 Equ@tions Digital™ - Industry 4.0 Tech Services Marketplace. The Fourth Industrial Revolution will also profoundly impact the nature of national and international security, affecting both the probability and the nature of conflict. Large-scale machine-to-machine communication (M2M) and the internet. How to respond to the Fourth Industrial Revolution, or the second information technology revolution? Dynamic New Combinations between Technology, Market, and Society through Open Innovation ," Journal of Open Innovation: Technology, Market, and Complexity , MDPI, Open … This Fourth Industrial Revolution is, however, fundamentally different. The Fourth Industrial Revolution: What It Means and How to Respond. An. Dynamic New Combinations between Technology, Market, and Society through Open Innovation ," Journal of Open Innovation: Technology, Market, and Complexity , MDPI, Open … How to Respond to the Fourth Industrial Revolution, or the Second Information Technology Revolution? In addition to being a key economic concern, inequality represents the greatest societal concern associated with the Fourth Industrial Revolution. Ubiquitous, mobile supercomputing. Current systems of public policy and decision-making evolved alongside the Second Industrial Revolution, when decision-makers had time to study a specific issue and develop the necessary response or appropriate regulatory framework. Cape Town – Science and Technology Minister Mmamoloko Kubayi-Ngubane says South Africa needed to put measures in place to respond to the emergence of the Fourth Industrial Revolution (4IR). We stand on the brink of a technological revolution that will fundamentally alter the way we live, work, and relate to one another. This article was first published in Foreign Affairs, Author: Klaus Schwab is Founder and Executive Chairman of the World Economic Forum, We’re on the cusp of the Fourth Industrial Revolution, or Industry 4.0. Transportation and communication costs will drop, logistics and global supply chains will become more effective, and the cost of trade will diminish, all of which will open new markets and drive economic growth. Neuro-technological brain enhancements. How to Respond to The Fourth Industrial Revolution. Open Innov. Cape Town – Science and Technology Minister Mmamoloko Kubayi-Ngubane says South Africa needed to put measures in place to respond to the emergence of the Fourth Industrial Revolution (4IR). Dynamic new combinations between technology, market, and society through open innovation'. Disruption is also flowing from agile, innovative competitors who, thanks to access to global digital platforms for research, development, marketing, sales, and distribution, can oust well-established incumbents faster than ever by improving the quality, speed, or price at which value is delivered. Debates about fundamental issues such as the impact on our inner lives of the loss of control over our data will only intensify in the years ahead. The Third used electronics and information technology to automate production. How, then, can they preserve the interest of the consumers and the public at large while continuing to support innovation and technological development? EY’s Hywel Ball explores how CFOs can stay relevant . Dynamic New Combinations between Technology, Market, and Society through Open Innovation. More than 30 percent of the global population now uses social media platforms to connect, learn, and share information. Automation. In its scale, scope, and complexity, the transformation will be unlike anything humankind has experienced before. The Fourth Industrial Revolution: what it means, how to respond by Klaus Schwab for World Economic Forum. Department of Mater of Intellectual Property, KAIST, Seoul 34142, Korea, Department of Open Innovation, Open Innovation Academy of SOItmC, Convergence Research Center for Future Automotive Technology of DGIST, Daegu 42988, Korea, Department of Innovation Economics, Hohenheim University, Stuttgart 70593, Germany, Department of the 4th Industrial Revolution, KISTI, Seoul 02456, Korea, Department of Innovation Studies, University of Tokyo, Tokyo 113-8657, Japan, Department of Art Management, University of Baslicata, 105187 Potenza, Italy, Department of Medical Management, Eulji University, Seongnam 13135, Korea, Department of Industrial & Systems Engineering, Gyeongsang National University, Gyeongnam 52828, Korea, Department of Business Administration, Sangji University, Wonju 26339, Korea, Department of Public Administration, Seoul National University, Seoul 08826, Korea, Department of Social Continuing Education, Chinese Culture University, Taipei 86724, Taiwan, Department of Public Administration, Yonsei University, Seoul 03722, Korea. 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