Automation And The Future Society Our Fourth Industrial Revolution

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.

The fourth industrial revolution is developing globally, with no geographical centre. It is also taking place at enormous speed. This development will shape the workplaces of the future, which will be entirely different from the workplaces created by the first, second and third industrial revolutions. Industry created the industrial worker. The knowledge society will create a new type of "industrial worker", the knowledge worker. While the third industrial revolution was concerned with the digitalization of work, in the fourth industrial revolution, robots will bring about the informatization of work. Many of these robots will be systematically connected, such that they can obtain updated information and learn from their own and others’ mistakes. The way we work, where we work, what we work on, and our relationships with our colleagues and employers are all in a state of change. The workplace of the future will not necessarily be a fixed geographical location, but may be geographically distributed and functionally divided. In his book, Jon-Arild Johannessen argues that a "perfect" social storm occurs when inequality grows at a catastrophic rate, unemployment increases, job security is threatened for a growing number and robotization takes over even the most underpaid jobs. Thus, the ingredients for a perfect social storm will be brought forward by cascades of innovations that will most likely lead to economic and social crises and he argues that it is reasonable to assume that it will only take a small spark for this social storm to develop into a social revolution.

The book explores technological advances in the fourth industrial revolution (4IR), which is based on a variety of technologies such as artificial intelligence, Internet of Things, machine learning, big data, additive printing, cloud computing, and virtual and augmented reality. Critically analyzing the impacts and effects of these disruptive technologies on various areas, including economics, society, business, government, labor, law, and environment, the book also provides a broad overview of 4IR, with a focus on technologies, to allow readers to gain a deeper understanding of the recent advances and future trajectories. It is intended for researchers, practitioners, policy-makers and industry leaders.

This short, accessible book seeks to explore the future of work through the views and opinions of a range of expertise, encompassing economic, historical, technological, ethical and anthropological aspects of the debate. The transition to an automated society brings with it new challenges and a consideration for what has happened in the past; the editors of this book carefully steer the reader through future possibilities and policy outcomes, all the while recognising that whilst such a shift to a robotised society will be a gradual process, it is one that requires significant thought and consideration.

World Economic Forum Founder and Executive Chairman Klaus Schwab offers a practical companion and field guide to his previous book, The Fourth Industrial Revolution. Today, technology is changing everything--how we relate to one another, the way we work, how our economies and goverments function, and even what it means to be human. One need not look hard to see how the incredible advances in artificial intelligence, cryptocurrencies, biotechnologies, and the internet of things are transforming society in unprecedented ways. But the Fourth Industrial Revolution is just beginning, says Schwab. And at a time of such tremendous uncertainty and such rapid change, he argues it's our actions as individuals and leaders that will determine the trajectory our future will take. We all have a responsibility - as citizens, businesses, and institutions - to work with the current of progress, not against it, to build a future that is ethical, inclusive, sustainable and prosperous. Drawing on contributions from 200 top experts in fields ranging from machine learning to geoengineering to nanotechnology, to data ethics, Schwab equips readers with the practical tools to leverage the technologies of the future to leave the world better, safer, and more resilient than we found it.

Artificial intelligence will not necessarily create a super-intelligent “human robot”; however, it is very probable that intelligent robots and intelligent informats will bring about a form of super-globalization, in which money and goods are prioritized over people and democracy and where the widespread use of casual labour – that is, short-term contracts – will become the most common form of employment relationship. It is also very likely that artificial intelligence will bring about what is known as singularity. This term is used to describe a situation where intelligent robots, from a rational and logical perspective, are smarter than humans, i.e. the development of AI. This book explores the impact that these intelligent robots and intelligent informats will have on social and societal development. The author tackles the question of singularity from three distinct standpoints: technological singularity – the intelligence of machines compared to that of humans – which he argues will bring about a qualitatively new labour market; economic singularity – the consequences for work relationships, value creation and employment – which he asserts will promote full automation, result in precarious contracts with low salaries, and, in some countries, possibly lead to the introduction of a universal basic income; and social singularity – the consequences of technological and economic singularity for democratic processes, bureaucratic procedures for exercising authority and control, and the direction in which society will develop, in addition to the emergence of new social institutions – which Johannessen says will promote a transition from representative democracy to genuine democracy. The book will appeal to academics, researchers and students of economic sociology and political economy, as well as those focusing upon the emerging innovation economy. It will also find an audience among professionals and policymakers keen to understand the impact the Fourth Industrial Revolution will have on organizations, individuals and society at large.

Technology has created innovative new prospects for manufacturing industries with Industry 4.0 and has helped further the growth of the manufacturing sector. This book focuses on the next stage, which is Industry 5.0, and the steps in taking automation to that next level by increasing processes and operational efficiency, as well as reducing workforce size. Industry 5.0: The Future of the Industrial Economy discusses the integration of product, process, machine, software, and industrial robots in realizing Industry 5.0. It covers the dual integration of human intelligence with machine intelligence and reviews the results of making use of Industrial Internet of Things (IIoT) and Artificial Intelligence (AI). The creation of a new category of robots named Collaborative Robots (Cobots) specifically designed to speed up the manufacturing process and profitability is explored. This book also explores how to reduce waste in product design through the manufacturing process and offers more personalized and customized products for customers. Manufacturing, design, industrial, and mechanical engineers, as well as practicing professionals, will find this book of interest. Management executives, CIOs, CEOs, IT professionals, and academics will also find something of value in this book that takes Industry 4.0 to Industry 5.0 and beyond.