Fourth Industrial Revolution Haves and Have-Nots | Summary and Q&A

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September 25, 2018
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World Economic Forum
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Fourth Industrial Revolution Haves and Have-Nots

TL;DR

The Fourth Industrial Revolution presents both opportunities and challenges for society, including the potential exacerbation of inequality. Ensuring a human-centered approach and investing in skills development are crucial to mitigating these challenges.

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Questions & Answers

Q: How can countries ensure that the Fourth Industrial Revolution technologies help mitigate inequalities between countries and communities?

Countries need to invest in skilling and reskilling programs, especially for young people and those at risk of displacement. They should focus on creating opportunities for value creation within their own economies, rather than solely as consumers of technology.

Q: What role do ethics and morals play in the development of Fourth Industrial Revolution technologies?

It is crucial to consider the ethical implications of these technologies to avoid unintended consequences. Policymakers should promote the rational and responsible use of technology, prioritizing human rights, equality, and social well-being.

Q: How can academic institutions and the private sector work together to bridge the gap between theoretical knowledge and practical skills?

Encouraging academic-corporate partnerships and collaborations can ensure a smooth knowledge transfer between universities and companies. These partnerships can facilitate the development of relevant and up-to-date curricula that align with the needs of the job market.

Summary & Key Takeaways

  • The Fourth Industrial Revolution (4I.R.) offers great promise in addressing societal divides and promoting economic, social, and political inclusion.

  • However, the rapid advancement and concentration of technology benefits raise concerns about increasing inequality and exclusion.

  • Countries like South Africa and Europe are working to leverage technology for inclusive growth, focusing on skilling and reskilling the workforce to ensure all segments of society can participate in the digital economy.

  • Developments in robotics and AI can both sustain existing jobs and create new opportunities. It is essential to focus on utilizing technology to empower individuals and communities, rather than simply extracting value.

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