The fourth industrial revolution is the name given to the current period of rapid change in manufacturing, driven by digital technologies including artificial intelligence (AI) and robotics. As with previous industrial revolutions, this new era of automation will fundamentally change how products are designed and produced around the world. So, what exactly is the fourth industrial revolution? How will it affect jobs? And do people really need to worry about robots stealing their livelihoods? Let’s find out!
The second industrial revolution was fuelled by electricity and the third by computers
The second industrial revolution was fuelled by electricity and the third by computers. The fourth industrial revolution is being driven by AI, which means it’s moving from IT to OT. AI is getting more capable, faster and cheaper, so robots are getting cheaper too.
The potential impact of this on jobs is substantial. If you can do an activity with a computer in your pocket instead of a warehouse worker, then that person’s role becomes redundant to some extent. But as we’ve seen with other technologies throughout history, there will be opportunities for new types of work for humans who have learned these skills or acquired them through education and training programs; people will always want someone to talk them through problems they’re having with their new robot vacuum cleaner!
Are we on the verge of a new industrial revolution? What exactly is the fourth industrial revolution?
In the last few decades, we have seen a lot of changes in the way businesses are run and how they are organized. The computer revolution has completely changed the way we do business, with many companies now using automated systems that allow them to scale their operations far beyond what was possible just 20 years ago.
There are four main characteristics of this new industrial revolution:
- It is driven by technology;
- It is characterized by data;
- It is global in nature; and
- It affects all industries (and therefore all companies).
The fourth industrial revolution enables machines to perform tasks that were previously done by humans. This means that while some jobs will disappear, others will be created at a faster rate than ever before.
Robots are getting more capable.
The next time you see a robot, don’t think of it as an enemy. Think of it as an ally. Robots are helping us do our jobs better and faster than ever before.
As robots get more capable, they’re able to perform more tasks at a higher quality than humans can. Or at least that’s what we’ve observed in manufacturing facilities where automation has been deployed for decades. As the leader of one such operation recently told me, “A robot will always do things faster, better and cheaper than any human.”
Here are just a few ways that robots are making our lives easier:
- Manipulate objects (like picking up parts or moving items around)
- Sense their environment (like detecting obstacles)
- Understand language (like interpreting instructions)
- Learn from experience (for example by watching humans perform tasks)
Robot prices are decreasing.
The price of these new bots is coming down. As they do, they’re becoming more accessible to a wider range of businesses, individuals and hobbyists who have the flexibility to use them.
That’s especially true in schools and universities where students can gain hands-on experience using robotics tools that are affordable and easy to use.
The cost of robots has declined so much that there are some models available for less than $100!
What does all this mean for jobs?
While robotics is changing the face of manufacturing and other industries, it’s not eliminating jobs. In fact, robots are making people’s jobs better.
Robots aren’t a threat to jobs; they’re a threat to bad jobs. If you have a job that requires you to do something that can be automated with software or hardware, then one of your first concerns should be whether your employer will replace you with an automation solution (like a robot) or simply move operations somewhere else where labor costs are lower than your current location.
Robotics is changing the face of manufacturing, but it’s not eliminating jobs – it’s making them better.
In the context of manufacturing, robots allow businesses to become more efficient and competitive. They improve quality, are more productive and reduce the need for low-skilled labor. In addition, they make jobs more interesting and exciting for workers by allowing them to focus on higher value work.
Robotics is changing the face of manufacturing, but it’s not eliminating jobs – it’s making them better.
The fourth industrial revolution has been called the biggest change in human history. But it’s not all doom and gloom – robots are improving lives and creating new opportunities for people around the world. They aren’t stealing jobs; they’re making them better.
