The Fourth Industrial Revolution (Industry 4.0): A Social Innovation Perspective

By Rabeh Morrar, Husam Arman, S. Mousa. 2017

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Every industrial revolution brought with it benefits and challenges to the socioeconomic status of the countries that have engaged in such transformation. For instance, Great Britain led the first industrial revolution with the invention of the commercial steam engine, which revolutionized communication and transportation and led to many other industrial developments. In the second industrial revolution, the United States was primarily in the lead, with the telephone revolutionizing communication this time. In the third industrial revolution, the Internet was the key factor and succeeded because it was conceived as a public infrastructure technology rather a proprietary technology (Carr, 2003). The Internet has transformed the world economic landscape, and this transformation is expected to continue with the Internet of things (IoT). Rifkin (2014) confirms this trend in his concept of zero marginal cost, which emphasizes connectivity in his anticipation of a collaborative economy that will replace the capital system in its current form – with the IoT as the main driver. The rapid progress of smart cities is also paving the way to a more collaborative world (Kanter & Litow, 2009).

Subfields: Industrial and Manufacturing Engineering, Management of Technology and Innovation

View Paper: https://www.semanticscholar.org/paper/5b994e3f314daad408de105c3cdaad1da1b0e48e

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