What is the Fourth Industrial Revolution? IOL Business Report

A small number of innovative companies are taking these innovations a step further, and using them to develop new, higher-value business models. With recent advances in artificial intelligence, we are now able to envisage autonomous operations, where machines, and even entire facilities, can run themselves. On top of that, breakthroughs in biotechnology, nanotechnology and quantum computing are allowing us to manipulate the world on ever smaller scales, even at subatomic levels, and to introduce technologies into our bodies which may ultimately transform us. The Fourth Industrial Revolution, or Industry 4.0, builds on previous revolutions, which began in the 18th century with the invention of the steam engine. The Second Industrial Revolution used electricity to create mass production, and the Third used electronics and information technology to automate production.