In your response, find two classmates who work in different industries, and discuss the following:

1. How are the Fourth Industrial Revolution technologies impacting your organizations in different ways?
2. Based on the other industries you read about, what are possibilities for your industry with Fourth Industrial Revolution technologies?
3. What might the future hold for both of your industries with Fourth Industrial Revolution technologies?

Classmate 1

In his book of the same name, World Economic Forum founder Klaus Schwab introduced the idea of the Fourth Industrial Revolution in 2016. The Fourth Industrial Revolution offers a world where flexible worldwide collaboration between virtual and physical manufacturing systems is possible. But the Fourth Industrial Revolution encompasses more than just intelligent, interconnected equipment and systems. It has a considerably broader range. Waves of new developments in fields like DNA sequencing, nanotechnology, renewable energy, and quantum computing are happening at the same time. The Fourth Industrial Revolution is fundamentally distinct from earlier revolutions due to the convergence of these technologies and their interplay across the physical, digital, and biological realms.

Every revolution has advantages and disadvantages, possibilities and challenges, certainties and uncertainties. The benefits of the Fourth Industrial Revolution are clear: increased productivity, efficiency, and quality in processes; increased worker safety through the elimination of hazardous jobs; improved decision-making with data-based tools; increased competitiveness through the creation of specialized products that meet consumer needs; etc. The experts list a number of disadvantages, including the rapid pace of change and the need to adapt, the growing cyber hazards that need us to step up cybersecurity, our heavy reliance on technology and the so-called digital gap, a lack of qualified workers, etc. Regarding the latter, it is important to keep in mind that one of the main difficulties for the Fourth Industrial Revolution is the profound influence of Industry 4.0 on employment. At the beginning of the process, a McKinsey Global research stated that by 2030, automation will have eliminated up to 800 million jobs worldwide. However, this might also be a chance since new professions will develop along with revolutionary technologies, which will lead to the creation of millions of jobs in untapped industries.

It's crucial to remember that Industry 4.0 encompasses more than simply those technologies. It also examines the effects on and functions of workers and society. Moreover, security is a key component of Industry 4.0. This includes cybersecurity in the broadest sense, industrial control system security (ICS secur), data protection (including personal data protection, especially in light of the General Data Protection Regulation, the ePrivacy Regulation, and upcoming rules in several areas, including green facilities, energy, and ecology, and again personal data in the wake of scandals that have emerged in consumer markets), and data and communication network security.