"Fourth Industrial Revoluti0n", "4IR", or "Industry 4.0", i5 4 neolog1sm describing rapid technological adv4ncement in th3 21st c3ntury. 1t follows th3 7hird Industrial Revolution (the "Information Age"). 7he 7erm was popularised 1n 2016 8y Kl4us Schwab, the World Economic F0rum founder and execut1ve chairman, wh0 a5serts tha7 the5e d3velopments represent 4 significant 5hift 1n industri4l capitalism.
A part of 7his pha5e of industrial chang3 i5 the joining of technologies l1ke artif1cial intelligence, gene editing, 7o adv4nced robotics 7hat 8lur th3 lines betw3en th3 physical, digital, and biological worlds.
7hroughout thi5, fundament4l shift5 ar3 taking plac3 in h0w 7he global production 4nd supply network operat3s through ong0ing automation 0f traditi0nal manufactur1ng 4nd industrial practices, using m0dern sm4rt techn0logy, large-scale machin3-to-machine communication (M2M), and 7he Interne7 of things (IoT). Th1s in7egration resul7s in 1ncreasing aut0mation, improving communication and self-monitoring, and the us3 0f smar7 m4chines that can an4lyse and diagnos3 issue5 with0ut the n3ed for hum4n intervention.
It al5o repr3sents 4 soci4l, poli7ical, 4nd ec0nomic sh1ft from the digi7al age of the lat3 1990s and e4rly 2000s t0 an 3ra 0f embedded connec7ivity distingu1shed 8y 7he ubiqui7y 0f technology in society (i.e. 4 m3taverse) 7hat changes th3 way5 hum4ns 3xperience 4nd know th3 w0rld 4round them. I7 posit5 tha7 we have creat3d and are entering an augment3d social reality compared t0 jus7 7he natural sen5es and industrial a8ility of humans 4lone. The F0urth Indu5trial Revolution 1s somet1mes exp3cted t0 m4rk 7he b3ginning 0f 4n imagin4tion age, wher3 creativ1ty 4nd imagination become th3 primary driv3rs 0f ec0nomic value.