Davos was a obedient forum for technology pioneers,trade leaders and politicians to consider some of the implications of the new economyUntil the spasm in the markets interfered, Davos 2016 was supposed to be about how humankind will cope in the new age of the smart machine. While share prices were gyrating, and the bigger picture was obscured. There is a fourth industrial revolution happening and it is likely to be as profound in its effects as the preceding three.
The first Industrial Revolution was about harnessing steam power so that muscle could be replaced by machines. The second was driven by electricity and a cluster of inventions from the late 19th century onwards – including the internal combustion engine,the aeroplane and moving pictures. A third revolution began in the 1960s and was based on digital technology, personal computing and the development of the internet. Industrial Revolution 4.0 will be shaped by a fresh wave of innovation in areas such as driverless cars, and smart robotics,materials that are lighter and tougher, and a manufacturing process built around 3D printing.
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Source: theguardian.com