They enable computers to process vast amounts of data faster than ever before, while the advent of the cloud has allowed businesses to safely store and access their information from anywhere with internet access. New computational technologies are making computers smarter. However, the technology can be used in other ways, including making supply chains traceable, securing sensitive medical data anonymously, and combating voter fraud.

The digital currency Bitcoin is the best known blockchain application. BlockchainД«lockchain is a secure, decentralized, and transparent way of recording and sharing data, with no need to rely on third-party intermediaries. AI is used in many ways, from spotting patterns in huge piles of unstructured data to powering the autocorrect on your phone. They can recognize complex patterns, process information, draw conclusions, and make recommendations. These include the following: Artificial intelligenceДЄI describes computers that can вЂњthinkвЂќ like humans.

The easiest way to understand the Fourth Industrial Revolution is to focus on the technologies driving it. Schwab also suggested the revolution could lead to greater inequality, вЂњparticularly in its potential to disrupt labor markets.вЂќ Furthermore, the job market may become increasingly segregated into вЂњlow-skill/low-payвЂќ and вЂњhigh-skill/high-payвЂќ roles, which could escalate social tension.ДЄccording to Schwab, вЂњThe changes are so profound that, from the perspective of human history, there has never been a time of greater promise or potential peril.вЂќ What are the technologies driving change? Transportation and communication costs will drop, logistics and global supply chains will become more effective, and the cost of trade will diminish, all of which will open new markets and drive economic growth.вЂќ He continued: вЂњIn the future, technological innovation will also lead to a supply-side miracle, with long-term gains in efficiency and productivity. In a 2016 article, Schwab wroteВ that вЂњlike the revolutions that preceded it, the Fourth Industrial Revolution has the potential to raise global income levels and improve the quality of life for populations around the world.вЂќ The person who labeled todayвЂ™s advances as a new revolution was Klaus Schwab, founder and executive chairman of the World Economic Forum and author of the book, The Fourth Industrial Revolution. Klaus Schwab, founder and executive chairman of the World Economic Forum, author of The Fourth Industrial Revolution The changes are so profound that, from the perspective of human history, there has never been a time of greater promise or potential peril. This led to the increasing automation of manufacturing and the disruption of industries including banking, energy, and communications. A third industrial revolution, beginning in the 1950s, saw the emergence of computers and digital technology. In the second industrial revolution, electricity and other scientific advancements led to mass production. The advent of the steam engine in the 18th century led to the first industrial revolution, allowing production to be mechanized for the first time, and driving social change as people became increasingly urbanized. While the Fourth Industrial Revolution (sometimes called the 4IR or Industry 4.0) is set to change society like never before, it builds on foundations laid by the first three industrial revolutions. Where did the term вЂњFourth Industrial RevolutionвЂќ come from? HereвЂ™s everything you wanted to know about the Fourth Industrial Revolution (but were afraid to ask). Think GPS systems that suggest the fastest route to a destination, voice-activated virtual assistants such as AppleвЂ™s Siri, personalized Netflix recommendations, and FacebookвЂ™s ability to recognize your face and tag you in a friendвЂ™s photo.ДЄs a result of this perfect storm of technologies, the Fourth Industrial Revolution is paving the way for transformative changes in the way we live and radically disrupting almost every business sector.В ItвЂ™s all happening at an unprecedented, whirlwind pace (and itвЂ™s why Salesforce built the Customer Success PlatformВ to keep up with changing customer expectations).ДЇilling the Skills Gap in the Fourth Industrial Revolution ItвЂ™s the collective force behind many products and services that are fast becoming indispensable to modern life.

ItвЂ™s a fusion of advances in artificial intelligence (AI), robotics, the Internet of Things (IoT), 3D printing, genetic engineering, quantum computing, and other technologies. The Fourth Industrial Revolution is a way of describing the blurring of boundaries between the physical, digital, and biological worlds. What exactly is the Fourth Industrial Revolution - and why should you care?

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