Fourth Generation
industrialization  

Revolution 
 

By Prativa Poddar 
Rourkela 

A Brief History 
So far, there have been three easily quantifiable and studied Industrial Revolutions, all taking place in the span of 200
years.

The First Industrial Revolution:

This first revolution took place between the 18th and 19th centuries, mainly in Europe and America. It was a period
where the iron and textile industries were empowered by the power of the steam engine. During this time frame,
agrarian and rural societies were forced into a more industrial mindset, and their business models were transformed
into something more akin to the assembly line.

The Second Industrial Revolution:

 
  

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Just before World War I, the Second Industrial Revolution came into full swing. It was a period of rapid growth in a
variety of already existing industries and the creation and expansion of new ones. Those industries that did not adapt
to the onset of electricity quickly vanished. Steel, oil and electrical companies flourished. Thanks to the birth of
electricity, mass production, and its subsequent implementation were born.

The Third Industrial Revolution:

Also referred to as the Digital Revolution, this period was critical to the world we now live in. This was the moment
when analog electronics and mechanical devices were made outdated by digital technology. This era mainly started
somewhere around the mid-1980s and it’s still ongoing. The advances during the Third Industrial Revolution include
the personal computer, the internet, and the proliferation of information and communications technology.

The Fourth Industrial Revolution:

We reach the hear and now. The new technologies that are being created and sparked by the digital age have the
capacity to enhance every facet of life, not just the workforce. The range of discoveries and advances that are right
over the horizon (partway between conceptualization and realization) have the potential to connect everything into
one, giant, communicating network.

This revolution has started taking hold in the manufacturing industry but is quickly spreading beyond. Everything is
being melded together through a digital connection. The Internet of Things let appliances and cars and security
systems talk to each other. Virtual reality systems allow humans to enter into artificially created worlds. Machinery in
manufacturing plants is controlled by artificial intelligence and automated bots. Smartphones use facial recognition to
unlock

All these connections are pouring out data. Data that is full of insights about us as people, the things we create,
problems that arise, and the ways we behave. Everything is digital, everything is connected, and everything pours
forth data – this is the 4th Industrial Revolution.

Specific types of technology are driving 4th Generation revolution

Artificial Intelligence. Programmers are pushing hard to develop and utilize artificial intelligence in as many ways as
possible. Rather than simply following a set of instructions, computers are being taught to learn and make decisions
on the fly.

Robotics. Robotic devices are beginning to play a key role in a variety of industries, from mining to oil to health.
They’re able to perform jobs that humans can’t and speed up other tasks.

Virtual and Augmented Reality. The enormous success of Pokemon Go gave us our first taste of widespread
augmented reality. The idea of digitally adding to the physical world or creating entirely new digital worlds is both
tantalizing and already upon us in some ways.
  

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Advanced Security Systems. Recent hacking issues have made cyber security a massive issue for many
companies. In response, many companies are beginning to require all sorts of new authentication, from simple
two-factor all the way up to bio-identification.

Internet Things. The IOT simply refers to the ability of many non-computers (cars, manufacturing machines,
appliances, hospital equipment, etc.) to connect to the internet and connect to other devices. Notice that all of these

technologies feature one of two things: massive connectivity or the blending of the digital and physical worlds.

Will A ect Companies 

Increased Automation and Optimization. Because everything is connected, manufacturers are able to quickly
optimize the manufacturing process. They can see where bottlenecks occur, identify problematic parts of the supply
chain, and intervene quickly if there’s a problem.

Constant Monitoring. Almost everything can now be monitored in real time. If a patient in a has a heart attack, the
machine he is connected to can instantly alert the necessary personnel and provide the appropriate data. If a
machine breaks down, the problem can be immediately identified.

Personalization and Customization. Due to increased computer speed, digital manufacturing plants, and supply
chain optimization, companies can customize designs for less and at the same time charge more for them. Think
custom mattresses or shoes.

Data Mining. As companies produce more and more data, being able to mine that data for meaningful insights will
become increasingly important. Companies now have to either develop their own or purchase a platform for
gathering, organizing, and analyzing this data.

Virtual Reality. This technology is now starting to bridge the gap between designers and consumers. Car companies
can let customers take virtual test drives.

Workplace Improvements. Constant workplace monitoring is improving working conditions for employees. Things
like temperature and humidity can be maintained to create optimal working conditions. Incidents can be detected and
shut down automatically. Air quality conditions can be constantly tested. All these things lead to a safer, healthier
workplace and increased efficiency.

The Rise of Robots. Customers want both speed and quality. In order to achieve this, companies are beginning to
use combinations of robots and humans to manufacture products. Eventually, this could put a squeeze on jobs
currently done by humans, but for now, we’re seeing humans and robots work together.

We are getting closer to be constantly plugged in to something – the cloud, the Internet of Things, a virtual reality
system, or some combination of these. Right now, the 4IR is dominating manufacturing industries, but it’s certainly
  

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not staying there. It’s spreading into our hospitals, smartphones, security systems, and even our appliances. The
future is here. And the future is coming.

Shaping the Future: 

Technology is an invention of the human. Taking into account the previous industrial revolutions and innovations 

and disruptions associated with them. There is nothing that humans can’t control. 

We are the one who brings revolutions to the forefront, so we have the potential to avail the opportunities and shape 

the fourth industrial revolution. We move towards a better future fulfilling our common goals and reflecting our 

mutual values and objectives. 

Four main effects on Business 

Due to technological advancements, innovation and disruption across all industries, globally, are quite hard to 

anticipate. Which is driving continuous surprises for the business owners. Undoubtedly, this represents the clear 

evidence for that Fourth industrial revolution has a notable impact on businesses; however, four main effects are: 

1. Customer expectations 
2. Product enhancement 

3. Collaborative innovation 

4. Organizational form 

The customers are the building blocks of any economy, that’s why whether consumers or businesses. It is all about 

improving the services offered to customers. Products and services can be enhanced with digital capabilities that 

increase the value of the products. 

Taking an example of AI-based identity verification services, the technology is making the verification industry more 

resilient and as per a report, it is expected to grow up to $12.8 billion by 2024. 

In the world where business success relies on customer experience, data-based AI-powered services, and effective 

results through analytics. New forms of collaboration are equally important and that too at the speed at which 

innovation and disruption are taking place. 

Furthermore, due to the emergence of global platforms and technology-based business models; organizational 

forms, talents, and cultures will have to be revised. 

  

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Where is the Fourth Industrial Revolution taking us?

On a personal level, we appreciate the convenience and efficiency of a digitally connected world, but the revolution

begins when these high-tech integrations inundate our world on an economic and societal scale. Creating “smarter”

industries that have the power to affect socioeconomic landscapes takes plenty of careful planning and a certain

acceptance of momentous changes that humankind has never seen before.

It’s this giant leap of faith that Schwab predicts will be the biggest roadblock standing between modern society and

the 4th Industrial Revolution. Schwab noted, “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 essence, taking these huge tech integration steps to the next level takes a fair amount of scaling that politicians,

world leaders, CEOs, and policymakers will likely meet with hesitation. There is no denying the promise and potential

the 4th Industrial Revolution will bring, it’s a simple matter of preparation and execution that keeps modern day

society standing on the precipice of changing times.

The future can be a gray space where the mystery of the unknown clouds the mind, but the vast majority of

Americans have already seen a number of tech integration changes that affect our homes, workplaces, businesses,

and more. Schwab says, “In the end, it all comes down to people and values. We need to shape a future that works

for all of us by putting people first and empowering them."