The fourth wave of industrialisation is upon us! When we look at how technology has progressed over the past centuries we can identify some distinct trends. Firstly technological growth is exponential, in other words, the more we progress, the faster we progress. Secondly, we can note several phase transitions in technological growth. These can be identified as:
- The industrial revolution - driven by coal and steam power.
- The electric age - where we harnessed the power of electricity and magnetism.
- The information age - came with an understanding of quantum mechanics which led to the development of the transistor, microprocessors and the internet
- The fourth wave, we believe, will be defined by nanotechnology, biotechnology, and artificial intelligence.
Here is what the World Economic Forum has to say: