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 live and work.

Schwab 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 human.


Artificial intelligence is already all around us, from
supercomputers, drones and virtual assistants to 3D printing, DNA
sequencing, 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 printed liver are already in
development. Imagine “smart factories” in which global systems of
manu­facturing are coordinated virtually, or implantable mobile phones
made of biosynthetic materials.

The fourth industrial
revolution, says Schwab, is more significant, and its ramifications more
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.