OBaby lS The fourth industrial revolution seems to be creating fewer jobs in new industries than previous revolutions 16 Provides helpful boxes that capture a specific issue and how it relates with the fourth industrial revolution The first box illustrates the impact on gender issues17 The four major impacts on business The fourth industrial revolution has four main effects on business across industries customer expectations are shifting products are being enhanced by data which improves asset productivity new partnerships are being formed as companiesearn the importance of new forms of collaboration and operating models are being transformed into new digital models 18 The roles that governments must assume to master the fourth industrial revolution When assessing the impact of the fourth industrial revolution on governments the use of digital technologies to govern better is top of mind More intense and innovative use of web technologies can help public administrations modernize their structures and functions to improve overall performance from strengthening processes of e governance to fostering greater transparency accountability and engagement between the government and its citizens 19 Some interesting side topics discussed Nerds like cyber warfare20 The way forward and helpful appendicesNegatives1 Lacks panache The book is dry andacks engagement 2 An excellent topic that the author did not take advantage of Lacks depth3 There are better books on this topic The Second Machine Age written by Brynjolfsson and referenced in this book is far superior 4 The format is Zack (Areion Fury MC lackluster and the book is uneven5 Repetitive 6 No notes orinks to notes7 No formal bibliography In summary I have to say I was mildly disappointed with this book it Shadow on the Crown (The Emma of Normandy Trilogy, lacked engagement and panache That stated Schwab does provide some interesting observations of the current state of affairs and does a good job of making the case for being in the midst of the fourth industrial revolution Good effort but should have been better Read if interested in the topic Further recommendations The Second Machine Age Work Progress and Prosperity in a Time of Brilliant Technologies by Erik Brynjolfsson and Andrew McAfee Race Against This book is written by the founder of the World Economic Forum and one of the things I ve noticed is that if you want to read a horror story about what is about to happen to jobs then reading reports from WEF or the IMF are of Stephen King scale terror Basically all hell is about to breakoose and even the masters of capitalism are terrified about what that might meanThe problem as so many other books I ve read recently on this topic say has most to do with exponential growth And the problem with this is that we humans struggle to think in terms of exponential growth we generally have enough trouble understanding ContamiNation linear growth And this isn tike the changes we have witnessed before As he says here the iPhone is essentially a super computer that sits in our pockets The changes that are about to happen as these things continue to gain power and as things become connected to the internet than people are connected and we start to have tattoos and shirts that are digitally connected too and Taxi ins Glück like I said while reading this I started to feel as if I wasooking over the edge of a cliff I m going to uote the bits of this that I found particularly terrifying A couple of them I ve mentioned before in other reviews this first one has become my mantra to people when they ask me what I ve been researching But here he gives a fuller explanation of the problem According to an estimate "FROM THE OXFORD MARTIN PROGRAMME ON "the Oxford Martin Programme on and Employment only an estimate from the Oxford Martin Programme on Technology and Employment only of the US workforce is employed in industries that did not exist at the turn of the century a far ower percentage than the approximately 8% of new jobs created in new industries during the 1980s and the 45% of new jobs created during the 1990s And there is the problem Much of the shift in the economy towards new industries in this new industrial revolution is clearly making it redundant to do a remarkable number of things that we have done for a ong time There are predictions that soon paralegals accounts clerks secretaries and administration officers will be job titles with the same nostalgic appeal as hansom cab driver and blacksmith But the new industries simply have not been creating new jobs at the same rate as they are about to start destroying them And this is a significant new trend The way this argument is meant to go is that all revolutions make some jobs extinct but they also increase productivity and in doing so create wealth which creates new demands which in turn creates even jobs Except that too many of the new industries don t seem to work ike that my other favourite example I ve being telling people is of Instagram being a billion dollar company what when it was purchased and yet it only employed a total of 13 peopleAll of which is about to be made very much worse by the other exponentially growing problem we face ineuality As he says here the richest one percent of the world owns half of everything He uotes The Spirit Level Why More Eual Societies Almost Always Do Better which says that eual societies are often better on a wide range of measures health education happiness while ess eual societies are worse off crime prison population infant mortality You need to remember who is telling us this whatever you think of the WEF this is certainly not a crazy The Magic Rolling Pin left wing fringe group If they are saying beware it is time toisten The best of this book isn t really in the book itself but rather in the appendix This has a ist of 23 trends that are about to become deep shifts He bases this *bit of the book on surveys the WEF did with 800 executives They were asked about these 23 *of the book on surveys the WEF did with 800 executives They were asked about these 23 and if they thought that by 2025 they would have reached their tipping point For most of these the answer is yes He then goes through the costs and benefits of eachLook even if you are Pollyanna and you think that the changes we are about to experience will be infinitely positive and make our ives incomparably better you will still recognise that the changes about to hit us are going to cause untold disruption That in itself might not be a terrible thing the problem is that the new jobs whatever they are Not Without a Fight likely to be are going to reuire people up skilling and one only needs. E is already all around us from supercomputers drones and virtual assistants to 3D printing DNA seuencing smart thermostats wearable sensors and microchips smaller than a grain of sand But this is just the beginning nanomaterials 200 times stronger than steel and a million times thinner than a strand of hair and the first transplant of a 3D printediver are already in development Imagine “smart factories” in which global systems of manufacturing are coordinated virtually or implantable mobile phones made of biosynthetic materialsThe fourth industrial revolution says Schwab is significant an.
Free read The Fourth Industrial Revolution,
To ook at the problem of student debt in the US and elsewhere to know that isn t going to be at all easy for people to achieve particularly not those on the bottom of the pile who have no current skills and no history of gaining skills through the education system How they are supposed to suddenly go from being a truck driver to being a web designer isn t in the The Unseen Wonder least bit clear to meThis is coupled with the assessment of the author s that employment will grow in high income cognitive and creative jobs andow income manual occupations but will greatly diminish for middle income routine and repetitive jobs And this is predicted to impact women than men As he explains While it is difficult to map the competencies and skills expected in industries not yet created we can reasonably assume that demand will increase for skills that enable workers to design build and work alongside technological systems or in areas that fill the gaps eft by these technological innovations And that means men Because men still tend to dominate computer science mathematical and engineering professions increased demand for specialized technical skills may exacerbate gender ineualities Yet demand may grow for roles that machines cannot fulfil and which rely on intrinsically human traits and capabilities such as empathy and compassion Women are prevalent in many such occupations including psychologists therapists coaches event planners nurses and other providers of healthcare And while that is true many of those occupations are often relatively ow paid and worse they are often what Nancy Frazer refers to as pink collar jobs although ghettos would perhaps be just as accurate The other problem is that while governments increasingly struggle to raise tax revenue and wages haven t risen in real terms for decades it isn t clear where the money to pay for these services will come fromLike I said at the start none of this makes for happy reading Hence conversations among educators and developers about the ethical standards that should apply to emerging technologies of the fourth industrial revolution are urgently needed to establish common ethical guidelines and embed them in society and culture It is interesting to read an appeal The author Klaus Schwab is a German born business professor at the University of Geneva He was founder of the World Economic Forum in 1971 The WEF facilitates the meeting of business and political Zu schnell leaders selected intellectuals and journalists to discuss the future of global economics The central theme of the 2016 meeting of the Forum focused on the Fourth Industrial Revolution as defined and discussed by Professor Schwab in aengthy essay published in Foreign Affairs in 2015 This book is essentially an expanded version of that essay plus some added material which are the results of canvassing the meeting participants regarding when various technological breakthroughs will reach their respective tipping points Some of the results of this survey is included in the Appendix of this bookThis book provides a thorough discussion of the possible future impacts of these changes The author is willing to acknowledge the possible detrimental results but then he goes on to say the others predict optimistic outcomes I get the impression that the author was trying to be objective but conseuently his reluctance to advocate for a particular position makes this book dry reading material I was very dissatisfied with the chapter titled The Way Forward near the end of the book s message I was Sleepless (Bird of Stone, looking forward to some sort of recommended plan for making the necessary adjustments for society to adapt to the coming economic changes Instead the message I took from that chapter were generalities such as the following we must adapt shape and harness the potential of disruption by nurturing and applying four different types of intelligence contextual the mind emotional the hear inspired the soul physical the body The author elaborates on these but I found these discussions to beacking specificsThe following is a isting of the anticipated future technological advancements and their respective tipping point dates based on a survey of 800 business executives They were asked to gage when they anticipate that these game changing technologies will break into the public domain to a significant degree The percentage isted next to the items below is the percentage of survey respondants that believed that the tipping point would be achieved by the year 20251 Implantable Technologies 82%2 Our Digital Presence 84%3 Vision as the New Interface 86%4 Wearable Internet 91%5 Ubiuitous Computing 79%6 A Supercomputer in Your Pocket 81%7 Storage for All 91%8 The Internet of for Things 89%9 The Connected Home 70%10 Smart Cities 64%11 Big Data for Decisions 83%12 Driverless Cars 79%13 AI Decision Making 45%14 AI White Collar Jobs 75%15 Robotics and Services 86%16 Bitcoin the Blockchain 58% 17 The Sharing Economy 67% 18 Governments the Blockchain 73%19 3D Printing Manufacturing 84% 20 3D Printing Human Health 76%21 3D Printing Consumer Products 81%22 Designer Beings vote result not shown23 Neurotechnologies vote result not shownEach of the above anticipated technological advances are thoroughly described in the Appendix along with the above survey resultsNumbering of the Revolutions In my opinion there is no fourth industrial revolution What this author is calling the fourth industrial revolution is simply a continuation of the third I get the impression from this book that he thinks the current situation deserves its own abel because
OF THE SPEED OF CHANGE BUT EXPONENTIAL RATES OFthe speed of change But exponential rates of occurred during the Third Industrial Revolution it s just that at this point in time the changes appear really fast That s what exponential rates doThe following are the definitions of the various industrial revolutions as used by this book1 The Machine Age 1760 1840 The Steam Engine Railroads 2 Mass Production ate 19th early 20th c Assembly Line Manufacturing Electricity 3 The Digital Revolution from mid Railroads 2 Mass Production Invisible (The Curse of Avalon late 19th early 20th c Assembly Line Manufacturing Electricity 3 The Digital Revolution from mid Computers Semiconductors Internet4 The Fourth IR Ubiuitous Mobile Internet Internet of Things IoT with Sensors Artificial Intelligence AI Gene Seuencing NanotechnologyThe following is not from the book but it provides a graphic that helps explain the various revolutions Here s aink to an explanation of the Internet of Thing. D its ramifications profound than in any prior period of human history He outlines the key technologies driving this revolution and discusses the major impacts expected on government business civil society and individuals Schwab also offers bold ideas on how to harness these changes and shape a better future one in which technology empowers people rather than replaces them; progress serves society rather than disrupts it; and in which innovators respect moral and ethical boundaries rather than cross them We all have the opportunity to contribute to developing new frameworks that advance progress. ,
Hmmm OK I ve read the same content many times before This isn t really offering anything new If you re relatively new to the topic then it s an OK coverage in a short book 200 pages I read this for work After reading hundreds of pages of various research reports on this same topic I read this book Which was far boring and dryly The fourth revolution Written on my mobile phone mainly to keep notes pardon the poor grammar 1 What it means and how to responda Highlight a couple of areas artificial intelligence nanotechnology IOT autonomous cars biotechnology uantum computing material science 3D printing roboticsb Talks about income gap And that he expects the dis satisfaction to grow People have unrealistic expectations of what ualifies as good income c Talks about the 4th revolutions dehumanizing society human Simple Informative Useful Ohhhhh I d ove to write an alternative version of this bookThe usual suspects are here that we see in all Schwab s books Disruption Drones Networking Speed YawnBut what is interesting is just the hint of what happens to abour to workers through this fourth industrial revolutionBottom ine Fewer people are reuired to complete work So ess people will be needed in the workplace So fewer people will be paidTherefore Deep Listening labour surplus will increase Therefore people will be applying for fewer jobs Therefore wages will go down and workers will have to move to take up this work Worker mobility will increaseNot only is technology disruptive but there will be disruption to wagesocations of work family structures health and educational provisionTherefore ineuality will actually increase The holders of capital will increase their power Those with only their abour to sell will reduce in their power The double freedom becomes ess potent and relevant because of abour surplusThis is not what Klaus Schwab argued He did express concern actually not concern but awareness that fewer workers will be reuired He also expressed awareness about what will happen to cities particularly global cities if physical infrastructure is neglectedThere are many stories to tell about the Fourth Industrial Revolution These alternative stories start with the argument that disruption may be beneficial for those who make money But for those with homes and mortgages families educational and health responsibilities this agile economy will not disrupt but destroy I wrote a 1200 word review of this and then my aptop crashed and I ost it so here s the gist Interesting to read a senior economist speak about ikely macroeconomic changes resulting from technology Despite his cautious optimism we re clearly all screwed Brace yourself for an era of mass unemploymentGood read though ots of facts and figures and graphs and data The Fourth Industrial Revolution by Klaus Schwab The Fourth Industrial Revolution is an average to above average book about the forces of disruption and the innovation shaping our future Professor Klaus Schwab Founder and Executive Chairman of the World Economic Forum describes how technology and society coexist and makes the case that we are in the midst of a fourth and distinct revolution This 199 page succinct book includes the following three chapters 1 The Fourth Industrial Revolution 2 Drivers and 3 Impact Positives1 A well written straightforward book2 Mastery of the topic 3 Makes perfectly clear what this book is all about in the introduction In writing this book my intention is to provide a primer on the fourth industrial intention is to provide a primer on the fourth industrial what it is what it will bring how it will impact us and what can be done to harness it for the common good 4 Provides the three main goals of this book and Above all this book aims to emphasize the way in which technology and society co exist 5 Provides historical context of the industrial revolution The first industrial revolution spanned from about 1760 to around 1840 Triggered by the construction of railroads and the invention of the steam engine it ushered in mechanical production 6 He makes a strong case for a fourth industrial revolution I believe that TODAY WE ARE AT THE BEGINNING we are at the beginning a fourth industrial revolution It began at the turn of this century and builds on the digital revolution It is characterized by a much ubiuitous and mobile internet by smaller and powerful sensors that have become cheaper and by artificial intelligence and machine earning 7 Explains what makes the fourth industrial revolution different from previous revolutions8 Spells out his two main concerns with the fourth industrial revolution The challenges created by it 9 The three main drivers behind the fourth industrial revolution I have organized the Bunnys Book Club Goes to School list into three clusters physical digital and biological 10 Goes over some of the key features of the three driving clusters the technological advances11 Describes the scale and breadth of impact of the revolution In all these areas one of the biggest impacts willikely result from a single force empowerment how governments relate to their citizens how enterprises relate to their employees shareholders and customers or how superpowers relate to smaller countries The disruption that the fourth industrial revolution will have on existing political economic and social models will therefore reuire that empowered actors recognize that they are part of a distributed power system that reuires collaborative forms of interaction to succeed 12 Goes over key global demographics13 Provides support for his pragmatic optimism The fourth industrial revolution has the potential both to increase economic growth and to alleviate some of the major global challenges we collectively face We need however to also recognize and manage the negative impacts it can have particularly with regard to ineuality employment and The Peculiar Pig labour markets 14 The direct impact on employment To get a grasp on this we have to understand the two competing effects that technology exercises on employment First there is a destruction effect as technology fuelled disruption and automation substitute capital forabour forcing workers to become "unemployed or to reallocate their skills elsewhere Second this destruction effect is accompanied by a capitalization effect in which the demand "or to reallocate their skills elsewhere Second this destruction effect is accompanied by a capitalization effect in which the demand new goods and services increases and eads to the creation of new occupations businesses and even industries 15 The main negatives So far the evidence is thi. World renowned economist Klaus Schwab Founder and Executive Chairman of the World Economic Forum explains that we have an opportunity to shape the fourth industrial revolution which will fundamentally alter how we ive and workSchwab argues that this revolution is different in scale scope and complexity from any that have come before Characterized by a range of new technologies that are fusing the physical digital and biological worlds the developments are affecting all disciplines economies industries and governments and even challenging ideas about what it means to be humanArtificial intelligenc. ,