4th industrial revolution is on its way. Are you ready?

4 mins read

History textbooks always contain a chapter that talks about the Industrial Revolution. It was called a revolution because it transformed the way of working. The first industrial revolution increased employment opportunities and processes became more efficient. And since then two more industrial transformations have occurred that have had a major impact on almost everything. Currently, the world is facing a pandemic which in some ways is changing the way people work. It is believed that this pandemic will lead to the 4th Industrial Revolution. So it is important for us to understand how and when will that happen.

Covid-19 has impacted every sector and individual across the world. With work from home becoming the new normal and increased dependence on the gig economy, we can see how technology is altering the way we work and live. These technological advancements are going to create a world that mankind has never seen. Therefore it becomes crucial for us to know the trajectory of the 4th industrial revolution and what it has in store for us.

All secrets lie in the past

We have observed three industrial revolutions till now with every revolution teaching us something new. Let's first discuss how these revolutions transformed the world.

• The first industrial revolution basically was a transition to machinery for better manufacturing processes marking the birth of the factories. The industries increased the employment opportunities making people move from rural areas to urban areas. This drastically changed the living standard. The population growth along with an increase in the average income was the result of the first industrial revolution.

• The second industrial revolution focussed more on innovation. This phase was actually referred to as the Technological Revolution. Though many advancements were made in the field of manufacturing previously, this was more focussed on creating something new which led to the development of technologies like the birth of the assembly line for mass production, railroads, the introduction of electrification, use of the telegraph, increased use of machinery in manufacturing and many more.

• • The third industrial revolution introduced computers to the world and a major development in the field of telecommunications was observed. This was the time when efforts were being to create a close-knit world. Information technology is being used to automate production in this revolution.

A Transformation like no other

After the three revolutions, the base for the 4th Industrial Revolution was all set. It brought in the concept of digital revolution wherein everything is being done digitally. We have a smartphone in our hands that does everything for us starting from ordering a cab, food, or a product to seeing our loved ones and talking to them who are currently in a different country altogether.

With the pandemic currently knocking incessantly at the door, the entire workforce is bound to work from home while interacting over a virtual platform. They are being given the flexibility to work remotely on their own terms. All this in some way is making us realize every day how we are becoming more and more dependent on technology. With many people losing their jobs, it is being expected that the dependence on the gig economy will increase in the future. In addition to this, many companies are considering automating their processes completely as using artificial intelligence is the need of the hour. The driver-less cars being developed and tested by Tesla is going to be a common sight. With the labour market expected to shrink due to AI, it becomes important for the workforce to improve their skills.

Are you future-ready?

Yes, the pandemic has fast-forwarded the impact of the 4th industrial revolution but don't forget it is your skills that are to create a difference. Your focus during this time should be on skill enhancement and for that, you can do multiple courses available online. Refine yourself by taking up freelance projects and work that will enhance your knowledge base and give you the opportunity to work freely on your terms as well. Finally, if you have a business idea, this is the right time to give it a go. Don't forget that many startups like Airbnb, Uber, etc were the result 2008 financial crisis.

Your focus should be on transforming yourself during this pandemic to be future-ready. Now is the time to undergo a personal revolution!