The Fourth Industrial Revolution is here—are you ready?
The Fourth Industrial Revolution is transforming the entire system of production and management of the labour market. 13 It has been predicted that those who stand to benefit the most from the 4IR are going to be the providers of the intellectual and physical capital.
The impact of the 4th industrial revolution on the South African financial services market. This document is intended for public use. It may be distributed without the permission of the Centre of Excellence in Financial Services, as long as reference and credit is given to the authors when cited. The Centre of Excellence in Financial Services is a non-profit organisation focusing on.
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The third industrial revolution, sometimes called the digital revolution, involved the development of computers and IT (information technology) since the middle of the 20th century. The fourth industrial revolution is growing out of the third but is considered a new era rather than a continuation because of the explosiveness of its development and the disruptiveness of its technologies.
Next, there is the Industrial Revolution, which was the fundamental change in the way that goods were made. Before this revolution, people used to use their hands. Everything changed by the mid-1700s. This fundamental change in manufacturing represented a response to at least two major forces: First, an age of innovation had dawned thanks to the thinking and discoveries of the Renaissance.
The World Economic Forum argues that we are at the beginning of the Fourth Industrial Revolution, which will blur the lines between the physical, biological, and physical world at an unprecedented scale, speed and impact. This would profoundly change our society, causing shifts between industries, enabling new business models and reshaping the way we communicate and work (Schwab, 2016, p. v).
The Fourth Industrial Revolution encompasses the Internet of Things, but goes beyond simple device connectivity toward being an Internet of Everything. At its core is the combination of big data, analytics and physical technology. The aim is to provide increasingly enhanced, customized offerings to help meet the needs of individuals and organizations that can adapt and evolve to changing.