The Fourth Industrial Revolution

The fourth industrial revolution also labeled as for IR or industry 4.0 conceptualizes rapid change to technology industries and societal patterns and processes in the 21st century due to increasing interconnectivity and smart automation. The term was popularized in 2015 by Klaus Schwab the world economic forum founder and executive chairman And has since been used in numerous economic political and scientific articles In reference to the current era of emerging high technology Schwab asserts that the changes seen are more than just improvements to efficiency But express a significant shift in industrial capitalism.