No, We Are Not on the Verge of the Fourth Industrial Revolution

This observation serves as the core of what he and other world leaders are terming "the Fourth Industrial Revolution," the theme of this year's wintry summit in Switzerland. Building on the German government's "Industry 4.0," the current national strategy for "smart" factories integrating physical manufacturing with the Internet of Things, Schwab and the WEF argue that the coming years--likely littered with 3-D printers and designer babies--will mark the beginning of a revolution unlike any we have ever experienced, unique for its scale, scope, and complexity. They cite the convergence of multiple sectors of technology and industry (artificial intelligence, nanotechnology, autonomous vehicles, to name a scant few) as evidence that humans are entering a new era of profound, exponentially increasing possibility and risk.