The term Industrial Revolution 4.0 was brought to life in 2015 by World Economic Forum member, Klaus Schwab. Mr. Schwab, when he highlighted in his article in Foreign Affairs the main areas which are or would be transformed by the IR 4.0. Even though the concept still is on an early stage, it’s already one of the fastest growing industrial revolutions. It has developed from the third industrial revolution which started in the 1980s and marked the transformation from standard to computerized technologies. Although both have some similarities, the forth’s concept is more enhanced. 4.0 IR blurs the lines between technology and society; it merges these two areas to establish more efficient human life. Industrial revolution inventions embed into our daily activities, on a mental and physical level.
Along with the 4th Industrial Revolution came technological advancements such as robotics, 3D printing, distributed digital ledgers, Internet of Things, Artificial Intelligence, nanotechnology, and many more life-changing innovations. These are not complex terms only: most of these technologies are being successfully implemented in our daily lives. In this article, we will discuss artificial intelligence, Internet of Things, blockchain, and 3D printing.
AI (Artificial Intelligence)
AI is an intelligence presented by machines, but it’s not only a basic result of algorithms. It collects data, examines it, understands it, and thereby takes actions. AI is a higher machinery intelligence which forms more independent and user-oriented devices. However, this innovation is also one of the most discussed ones, as many believe it could outcome people and therefore replace blue-collar jobs.
AI is rapidly entering the market, and many acknowledged brands recognize it as a vital part of society’s development. Some of the artificial intelligence examples are autonomous vehicles, chatbots, shopping assistants, job interviewers, and many more. Brands like Tesla, Amazon, Netflix are successfully adopting AI to enhance their services.
Internet of Things (IoT)
Internet of Things connects various devices and allows a communication flow between them. For instance, your phone is connected to your car, your fitness tracker, and the sensors in your baby’s bedroom. This technology enables quick information exchange and personalized service. As it becomes more and more wireless, it’s easier to navigate most of the daily activities using only a few devices.
IoT is closely linked with AI, and both of these technologies work together to bring the best outcome. The most recognized IoT solutions are smart houses, self-driven cars, and the retail sector. Famous names such as Facebook, Amazon, Google are implementing it to bring their clients fast and efficient results.
Digital Distributed Ledger or Blockchain
Blockchain technology changed the way we share and store data. It has a complex system that encrypts information and forms blocks where the information is saved. With the high levels of transparency and immutable nature, it brought a safer and more private way of data distribution. Blockchain is changing our daily activities such as banking, online shopping, authorizing assets.
One of the excellent examples is LuxTag. We are proud to implement one of the most life-changing technologies to drive our business. But we aren’t the only market innovators. For many years companies like IBM, Walmart, Virgin Atlantic benefit from using blockchain.
3D printing is a process of layering small parts as liquid molecules, and as a result, forming a new three-dimensional shape. Similar technology was used for a few decades; however, only a next-generation 3D printing is so advanced it can form precise and tiny shapes. It didn’t take long for it to embed in industries where 3D printing is used daily such as engineering, aviation, healthcare, architecture. For example, F1 prints vehicle parts for its racing cars or Nike designs product prototypes using this printing technology.
Industrial Revolution 4.0 has an undeniable impact on our lives. It does not only interact with noteworthy life events, but also minor daily activities like checking the weather or calling your mom. Industrial revolution 4.0’s benefits cascade into society and enhance it by making it more digital and connected. We can’t deny the impact, and although we‘ve mentioned only a few major innovations that the new technological era has brought, there are many more that reshape how we communicate, move, eat, study or work. IR 4.0 is an immense part of our lives; therefore we should embrace its benefits.