WEF (World Economic Forum): World Unprepared to Deal with ‘Fourth Industrial Revolution’


World Economic Forum founder Klaus Schwab says the fusion of different technological advances, which are changing the world as never before, will be a major focus at the for Fundamental changes ahead

Taking center stage will be an in-depth discussion about what Klaus Schwab, the founder of the World Economic Forum, calls the Fourth Industrial Revolution. Schwab says the revolution is being driven by advances in artificial intelligence, robotics, autonomous vehicles, 3-D printing, nanotechnology and other areas of science.

“This fourth revolution comes on us like a tsunami. The speed is not to be compared with last revolutions and… the speed of this revolution is so fast that it makes it difficult or even impossible for the political community to follow up with the necessary regulatory and legislative frameworks.”

Impact on employment

Schwab says robotics, with new innovations such as self-guided cars, will destroy employment and wipe out much of the middle class, a major pillar of democratic systems.

“My fear is, if we are not prepared…and we have a concentration of jobs in the high level, more innovative areas and in the low service areas, this could lead to a new problem of social exclusion, which we absolutely have to avoid,” he said.

Read the Full Article Here:

“World Unprepared to Deal with Fourth Industrial Revolution”

 

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