Council Chronicle

Wednesday, January 27, 2021
Log in
  • National News
  • Business & Economy
  • Technology
  • Science
  • Health
  • About CC
    • Our Team
    • Contact Us
    • Privacy Policy GDPR
    • Terms of Use

Pages

  • About Council Chronicle
  • Contact Us
  • Our Team
  • Privacy Policy GDPR
  • Terms of Use

Recent Posts

  • Former Wife of Prolific Arizona Serial Killer Speaks Up First Time after Scottsdale Suicide June 29, 2018
  • Indiana Couple Arrested After Authorities Discovered Cruel Punishment Device in Home June 28, 2018
  • Schizophrenic Oregon Man Who Was Seen Carrying His Mother’s Head Committed to Psychiatric Facility June 27, 2018
  • Texas Lawmen Looking for Four Suspect Who Tortured Child During Home Invasion June 27, 2018
  • Retirement Home Resident Reported Fake Fire to Draw In Firefighters and Shoot Them June 26, 2018
  • Arkansas Man Kills Wife, Sticks Body In Chest Freezer Before Committing Suicide June 26, 2018
  • West Virginia Man Arrested After He Tried to Baptize Family by Drowning Them in the Bathtub June 25, 2018

Davos: We’re on the Verge of a Fourth Industrial Revolution

January 25, 2016 By Adam Martin Leave a Comment

Email, RSS Follow
The rise of intelligent machines could leave human workers without a job and boost income inequality, Davos experts caution

The rise of intelligent machines could leave human workers without their jobs and further boost income inequality, Davos experts caution

From the conclusions drawn by attendees of this year’s World Economic Forum at Davos we learned that we’re on the verge of a fourth industrial revolution that will change the face of the world we live in like never before.

As a quick recap, the first Industrial Revolution was brought by the steam engine which allowed humanity to transport goods and people across much larger distances and partially automatize manufacture.

The second Industrial Revolution was sparked by electricity, the internal combustion engine, and invention of motion picture. The third revolution happened with the dawn of the digital era when personal computers reached the general population and the Internet became widely available.

But WEF experts believe that we are witnessing a fourth revolution – the rise of intelligent machines that may leave many of us jobless by the end of the century. And we do see it happen with fresh innovations including automated cars, war robots, 3 D printing manufacture, and incredibly versatile new materials.

Technology experts and business think-tanks argued that smart machines would have unprecedented implications on the world’s economy. For instance, some workers would see their jobs taken away by machines including drivers, construction and manufacture workers, as well as some front desk positions such as hotel receptionists which may lose their bread to humanoid robots who put on a permanent smiley face.

Machines work faster, cheaper, and with fewer errors than humans do. They also do not go on strike, never get distracted, or need a paid sick leave. Experts estimate that in a plant smart machines could reduce the number of workers from hundreds to a few dozen, which are needed to oil and maintain the robots. But as soon as researchers invent robots that can do those tasks too, the number of human employees could sink even lower.

According to a recent report, just in the U.S., 47 percent of jobs could be performed by machines. Though experts generally agree the fourth Industrial Revolution would boost productivity worldwide and the amount of global wealth, critics are concerned that this revolution would benefit only a select few: the world’s richest. This is why, there are concerns that mindless automation would increase even more the gap between the rich and the poor and could lead to social instability.

Such concerns were highlighted by the Swiss bank UBS in a report which shows that as low-skill workforces loses terrain to intelligent machines, a tremendous pressure would be put on middle class jobs as well.

Klaus Schwab, founder of the WEF reached a similar conclusion in a book about Industrial Revolution 4.0. He noted that Detroit’s Big Three automakers were able to generate the same revenues (about $250 billon per year) with ten times fewer workers from 1990 through 2014.
Image Source: Wikimedia

Email, RSS Follow

Filed Under: Science Tagged With: automation, driverless cars, fourth industrial revolution, rise of the robots, World Economic Forum at Davos

Leave a Reply Cancel reply

Your email address will not be published.

Subscribe to Blog via Email

Enter your email address to subscribe to this blog and receive notifications of new posts by email.

Join 18 other subscribers

Recent Articles

ethics in dictionary highlighted

NIH Will Examine Ethical Problems of One of Their Studies

March 27, 2018 By Adam Martin Leave a Comment

biomutant character

Eleven-Minutes Long Biomutant Trailer Prepares You for Amazing Gameplay and Mechanics

August 26, 2017 By Adam Martin Leave a Comment

intime alibaba

Intime May Be Acquired By Its Founder And Alibaba

January 11, 2017 By Jesse Skelton Leave a Comment

Newborn baby

A Woman Gave Birth to Baby After Fertilizing Frozen Ovary

December 16, 2016 By Lee Raulin Leave a Comment

Parkes radio telescope

Hunting Aliens with Parkes Radio Telescope

November 11, 2016 By Ben Beckstrom Leave a Comment

man suffering from election season stress

Stressed Out? Here Are 7 Ways to Get Rid of Election Season Stress

October 19, 2016 By Adam Martin Leave a Comment

Disney World wants to prevent fraud.

Disney World prevents fraud by scanning children’s fingers

September 8, 2016 By Adam Martin Leave a Comment

artificial intelligence

How will the Artificial Intelligence will affect our life by 2030?

September 3, 2016 By Adam Martin Leave a Comment

opera sync

Opera Sync resets passwords after it was hacked

August 30, 2016 By Adam Martin Leave a Comment

viping

Why are teens viping – flavours or nicotine?

August 26, 2016 By Dustin Smith Leave a Comment

sex abuse

Doctors in sex abuse cases return to work. What happens with their victims?

August 25, 2016 By Adam Martin Leave a Comment

affection

Affection or food – which is more important for a dog?

August 19, 2016 By Adam Martin Leave a Comment

Chipotle restaurant

Chipotle to Open its First Burger Joint

July 30, 2016 By Ben Beckstrom Leave a Comment

Chicken sandwich from Chick-fil-A

Chick-fil-A Rolls Out Protein-Packed Grill Breakfast Sandwich

July 20, 2016 By Ben Beckstrom Leave a Comment

Related Articles

  • Two neutron stars colliding, forming a gravitational wave

    Are Colliding Wormholes the Real Producers of Gravitational Waves? (Study)

    Jun 15, 2018
  • Trepanation

    Ancient Peruvian Doctors Better at Trepanation Than Civil War Surgeons, New Study Finds

    Jun 13, 2018
  • Songbirds

    UK and Germany Biologists Closer to Understanding How Two-Way Communication Works in the Animal Kingdom

    Jun 6, 2018
  • nile crocodiles on white sand in a museum

    Crocodiles Listen to Bach as Researchers Study Their Brains in New Experiment (Study)

    May 9, 2018
  • view of coast from isle of skye

    Scientists Discover Rare, Giant Dinosaur Tracks in Scotland (Study)

    Apr 5, 2018
  • Intelligent Vehicles

    Stanford to Spearhead Intelligent Vehicles Revolution with Cars that can See Around the Corner

    Mar 7, 2018
  • Floating robot and ISS

    Floating Robot To Join the ISS Crew in June

    Mar 5, 2018
  • exploding star

    First Ever Photo of a Star Exploding Captured by an Amateur Photographer

    Feb 26, 2018
  • little skate at the bottom of the ocean

    Did Ancient Fish Start Walking Before Even Leaving the Ocean? (Study)

    Feb 12, 2018
  • Mayan pyramid in Guatemala

    Laser Technology Reveals More Maya Ruins in Guatemala

    Feb 4, 2018

Categories

  • Breaking News
  • Business & Economy
  • Entertainment
  • Health
  • National News
  • Nature
  • Science
  • Technology
  • World News

Copyright © 2021 CouncilChronicle.com

About · Terms of Use · Privacy Policy · Contact

This website uses cookies to ensure you get the best experience on our website. Learn more.