An interesting article on this topic was published at the World Economic Forum (WEF) website by two representatives at the World Economic Forum in Geneva - Nicholas Davis and Anne Marie Engtoft Larsen. They say the Fourth Industrial Revolution has changed our lives primarily in the following respects.
1. The ethics of technology
In 2017, organizations were set up around the world to tackle the ethical issues of the impact of modern technology on people and society as a whole. The World Economic Forum itself established the Center for the Fourth Industrial Revolution in San Francisco. Centers were also founded by Google and the world's leading universities.
2. Crypto currencies and blockchain
In 2017, people around the world started investing in bitcoin and other crypto currencies. Bitcoin's value grew by an incredible 2000%. Crypto currencies exist thanks to the technology called blockchain, and its development can't be overlooked. It's a continuously growing public database which anonymously records all transactions using crypto currency. That's also why blockchain is often referred to as a "ledger". In principle, however, this technology can be used to store public records of anything, which has a very promising future.
3. Going east
While the development of artificial intelligence began in the West in 1950s, it's now moving to the East. China is the world leader now, while the United States, on the contrary, restricts investment in artificial intelligence. The fields of medicine and pharmaceuticals, in which China invests many times more than Western countries, are very strong in this respect.
4. Resistance to the shared economy
Shared models have entered traditional industries such as transport and accommodation. In 2017, however, many of them struggled around the world. Uber and AirBnb raise concerns about wages, taxes, prices, and so on.
5. Cybernetic security
The year 2017 saw big cyber attacks, which showed that geopolitical conflicts no longer take place only on battlefields, but also in the digital world. Today, it's not only about personal data leaks, but also about threats to energy and healthcare systems, which have a direct impact on people's lives. The suspected Russian influence on crucial political choices taking place in the Western world is another chapter.
Other desirable societal changes have not yet been made in connection with the 4th Industrial Revolution. These are mainly:
- narrowing the gender pay gap,
- a systematic use of modern technologies to promote sustainable development in less economically developed countries,
- reforms in world governments towards more agile, inclusive, and human-led governance processes,
- a policy for introducing a universal primary income,
- the global rise in unemployment caused by the emergence of new technologies.
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