The Age of the Fourth Industrial Revolution
Schwab expects this era to be marked by breakthroughs in emerging technologies in fields such as robotics, artificial intelligence, nanotechnology, quantum computing, biotechnology, the internet of things, the industrial internet of things, decentralized consensus, fifth-generation wireless technologies, 3D printing, ...
The Fourth Industrial Revolution (4IR) is a term coined in 2016 by Klaus Schwab, Founder and Executive Chairman of the World Economic Forum (WEF).
The Fourth Industrial Revolution is a way of describing the blurring of boundaries between the physical, digital, and biological worlds. It's a fusion of advances in artificial intelligence (AI), robotics, the Internet of Things (IoT), 3D printing, genetic engineering, quantum computing, and other technologies.
Right now, we are going through the Fourth Industrial Revolution, aka Industry 4.0. ... According to Fortune Business Insights, the global Industry 4.0 market is projected to reach USD 260.71 billion by 2026, a 16.3% CAGR during the forecast period of 2019 to 2026.
In the case of the Fourth Industrial Revolution, the advantages are evident: increased productivity, efficiency and quality in processes, greater safety for workers by reducing jobs in dangerous environments, enhanced decision making with data-based tools, improved competitiveness by developing customised products.
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The Age of the Fourth Industrial Revolution
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