The world stands on the brink of a fourth industrial revolution. Its potential impact is being billed by many experts as unparalleled on industries and production.
The Sharjah FDI Forum 2017, 19-20 September 2017 in Sharjah, will address the direct impact of the Fourth Industrial Revolution on enhancing international competitiveness.
Four Key Revolutions
The first industrial revolution in the 18th century was driven by coal and steam, followed by the second 100 years later, by electricity, and finally the third, in the 1960s, led by the invention of computers, known as the digital revolution.
The beginning of the 21st century saw the early shoots of ‘The Fourth Industrial Revolution’, with the unlimited access to knowledge on the internet, mobile devices, unprecedented processing power and storage capacity.
According to Professor Klaus Schwab, Founder and Executive Chairman of the World Economic Forum, key technological drivers for the 4th revolution includes artificial intelligence, robotics, autonomous vehicles, 3d printing, big data, virtual currencies, the internet of things, nanotechnology, biotechnology, energy storage, materials science and quantum computing.
The Fourth Industrial Revolution is characterised by speed and the level of complexity, its integrated and comprehensive impact on all aspects of life and plurality of systems.
Technology experts believe the connectivity pace between smart and digital devices will be unprecedented, with all aspects of life being automated through more than 50 billion connected devices.
On one hand, The Fourth Industrial Revolution will create new jobs such as 3D printing design and production, robotics and smart systems programming, while on the other, automation will replace some elements of the workforce.
Millions of workers may be replaced by machines, such as drivers who will give way to automated and self-driving vehicles and low-skilled workers, who will be replaced by robots.
The Future of the World:
Marwan bin Jassim Al Serkal, CEO of Shurooq, an independent government organisation connecting investors with relevant opportunities, says: “Given the gravity of The Fourth Industrial Revolution and its pivotal role in impacting investment trends, the forum seeks to highlight the direct impact on state economies, individual incomes and capital flow around the world.”