Showing posts from June, 2021

Fourth industrial revolution and India's demographic challenge

Klaus Schwas coined the term 'fourth industrial revolution' to describe the confluence of emerging technology breakthroughs, covering wide ranging fields such as artificial intelligence, robotics, telecommunication revolution such as 5G, the internet of things, driverless vehicles, 3D printing and additive manufacturing, nanotech, biotech, materials science, energy storage and quantum technology. On the surface, it appears to be the next logical step from the third industrial revolution where electronics and IT were leveraged for production and service delivery. However, as Schwas argues, the growth of these in future would lead to exponential impact on various spheres. The velocity, scope and impact of these changes may take directions that may not be wholly predictable, affecting all fields from agriculture, education, trade, warfare, manufacturing and everything in between. There is a good (and urgent!) reason why policymakers should be abreast of developments in more than