- The world is in the opening years
of a fourth industrial revolution
and it's impacting almost every aspect
of the human experience.
The first industrial revolution began in Europe
in the 1700s and it was defined by the use
of steam as a way to propel machines and transport,
the growth of cities and the invention
of new material such as steel.
In the 1800s, a second revolution ushered in the era
of electricity, mass production,
and telecommunications.
By the mid 20th century, a third revolution arrived
that brought electronics and information technology
to the world.
In each revolution, the world before was different
from the world after.
Each was transformative.
Now as we progress through the 21st century,
a fourth revolution is underway.
This one may be more groundbreaking than any
of the prior periods.
Rather than impacting certain regions,
the fourth industrial revolution has greater scope
and impact on the world.
It will be driven by new technologies such as
artificial intelligence, cloud computing,
and self-driving cars,
personalized medicine, and new materials,
smart cities, and digitalization.
In particular, digitalization,
the use of digital technologies to operate
more efficiently, power new business models,
and produce new opportunities for delivering value
will be a central theme of the fourth industrial revolution.
It's already transforming organizations and the marketplace.
This so-called digital transformation is creating
new businesses and destroying others.
It is challenging every type of organization,
forcing a rethink of what and how value is delivered.
In his book "The Third Wave," Steve Case
best known for being the CEO of America Online
defines three waves of the internet.
In the first wave from 1985 to 1999
the technology was fairly basic.
Big players such as Cisco and IBM built the backend hardware
and the first Websites were simple.
In the second wave from 2000 through 2015,
the internet and World Wide Web matured rapidly.
Entire businesses went online, including the emergence
of eCommerce and Web-enabled productivity suites
from Google and Salesforce.
Social media, search, and smartphone apps all flourished.
We are now in a third wave.
Rather than simply being defined by innovative
hardware and software which is still important
to recognize, it is about internet and digital ubiquity.
It is driving a digital transformation
that includes new business models
and forcing a rethink of how we live, work, and play.
Fundamental to this third wave at the dawn of the
fourth industrial revolution is cloud computing
defined and simple terms as a delivery
of on-demand computing over the internet.
And what are the components of cloud computing?
Well, none other than everything as a service.
Digital transformation is riding on software
as a service, infrastructure as a service,
platform as a service, and many other
as-a-service functions.
To complete in the 21st century, to build smarter cities,
and to meet the enormous challenges of our times
will require individuals to embrace digital transformation
and the attendant as a services that will be essential
to powering this new era.