Key Inventions in Transition From 1st Industrial Revolution To 4th Industrial Revolution Sharif Dilnewaz Hossain ACS

KEY INVENTIONS IN TRANSITION FROM 1ST INDUSTRIAL REVOLUTION TO 4TH INDUSTRIAL REVOLUTION

Sharif Dilnewaz Hossain

ACS

AAt present, lots of talking is going on regrading beginning of the 4th industrial revolution (4IR) and its possible challenges and impacts on us. We as a citizen of a middle income developing country - Bangladesh, that has the 7th highest economic growth rate in the World in the 1st quarter of 2019. So, we should aware ourselves about the challenges and threats of the components of the 4th industrial revolution. However, before directly going to the 4IR, here I have tried to understand the transition from the 1st industrial revolution (1IR) to the 4th industrial revolution (4IR) and I have tried to find out the components which are mainly driven the changes in different industrial revolutions period.

First Industrial Revolution: It took place in Europe and the USA between 1750 and 1830. Some key components which brought 1st industrial revolution were:

(1) Introduction of New Manufacturing Processes. (2) Transition from Hand Production Methods to

Machines based Production.

(3) Introduction of New Chemical Manufacturing and

Iron Production Processes.

(4) Increasing Use of Steam Power and Water Power. (5) Development of Machine Tools. (6) Rise of Mechanized Factory. Etc.

Second Industrial Revolution: It is known as the Technological Revolution and it took place between 1870 and 1914 through rapid Standardization and Industrialization. Key innovations of the 2nd industrial revolution were:

(1) Innovations in Manufacturing. (2) Establishment of Machine Tools Industry. (3) Development of Methods for Manufacturing

Interchangeable Parts. (4) Invention of the Bessemer Process to Produce

Steel. Etc. Third Industrial Revolution: It is also known as Digital Revolution and it took place between 1950 and the key changes were: (1) Commercialization of the Use of Computers. (2) Emergence of New Communication Technologies. (3) Discovery of New Energy Sources. (4) Invention of Renewable Electricity. (5) Emergence of Sharing Economy concept. Etc.

Fourth Industrial Revolution as per Theory &

Scholars: As per Professor Klaus Schwab, Founder and Executive Chairman of the World Economic Forum, we are at the beginning of a revolution that is fundamentally changing the way we live, work and relate to one another, which he explores in his new book, The Fourth Industrial Revolution. It represents a widespread availability of digital technologies that were the result of the 3rd industrial revolution or digital revolution. The 4th Industrial Revolution is driven largely by the convergence of digital, biological and physical innovations over the 21st century (2000-2099).

Some of the Technologies that are driving the changes in the 4th industrial revolution are as follows:

(1) 3D Printing:

3D printing is a way of creating three dimensional (3D) solid objects. 3D printing is done by building up the object layer by layer. Usually, 3D printers use plastic, because it is easier to use and cheaper. Some 3D printers can 3D print with other materials, like metals and ceramics, but they cost too much money for most people. 3D printers are useful because they can make new objects very fast and are good at making them very detailed. They are also useful for fixing parts made of plastic and for making toys, figures, and models.

Social impact is that using 3D printing most goods will be designed on computers and “manufactured” in the homes of consumers, thus reducing both the costs and environmental impacts of transportation.

(2) Artificial Intelligence (AI):

Artificial Intelligence (AI) or machine intelligence is intelligence demonstrated by the machines. Any device (or intelligent agent) that perceives its environment and takes actions that maximize its chance of successfully achieving its goals. Also, AI is often used by machines or computers that mimic "cognitive" functions of humans, i.e. "learning" and "problem solving".

Artificial intelligence was founded as an academic discipline in 1956. It is divided into 2 sub-fields, such as:

(a) "Robotics" or "Machine Learning". (b) The use of logic or Artificial Neural Networks or

Deep Philosophical Differences.

(3) Big Data:

Big data is a term used for certain database systems. It is used for a number of technologies which help to organize data. To classify as big data, at least some of the following items should apply: (a) There are huge amounts of data. (b) The data changes very often. (c) It is difficult to structure the data in such a way that other models can be used easily.

Impact on society is that Big Data will bring many quantified self-movement, consumers are able to track and monitor their every move and thus gain a better understanding of their own lives. But it will have an impact on the privacy of consumers.

(4) Blockchain:

Blockchain (a distributed ledger technology) is a network software protocol that enables the secure transfer of money, assets and information via the Internet, without the need for a third-party intermediary such as a Bank (Swan, 2015). Transactions are validated, executed and recorded chronologically in an append-only tamper-resistant database, where they remain available on the Internet for on-demand lookup and verification.

A digital money system, such as, Bitcoin is the first and perhaps the most obvious application of blockchain technology. Money can be transferred immediately in real-time from one continent to another, at very low costs, and in a matter of seconds or minutes, instead of waiting days or weeks and paying high commissions, as is the case with current international money transfer and remittance solutions. Just as the Simple Mail Transfer Protocol (SMTP) constitutes the underlying protocol by which Internet users can send an email to each other in a seamless and interoperable way, regardless of their email provider, likewise, the Bitcoin protocol allows people to seamlessly transfer money to one another, regardless of their bank. However, digital currency is an application which is enabled by blockchain technology. The four main kinds of applications in development are (i) Real-time Fund Transfer and Payments. (ii) Property Registries. (iii) Contractual Agreements & (iv) Identity Confirmation.

The terms blockchain and distributed ledger technology are often used interchangeably. Distributed ledger is the general form of the technology, and blockchain is a specific form with an additional technical detail. Both refer to the concept of a ledger. A file that keeps track of who owns what. A distributed ledger has four salient features: (i) A Transaction Database shared among Network

Members, that is

(ii) Updated by Consensus, with (iii) Records Timestamped with a Unique

Cryptographic Signature, maintained in a (iv) Tamper-proof Auditable History of all Transactions.

Blockchain will increases efficiency, reduces costs, and promotes transparency in organization and will have significant social impact.

(5) Cloud Computing:

Cloud computing is the on-demand availability of computer system resources, especially data storage and computing power, without direct active management by the user. The term is generally used to describe Data Centers available to many users over the Internet. Large clouds often have functions distributed over multiple locations from central servers.

Clouds may be limited to (i) A Single Organization (Enterprise Clouds) Or (ii) Many Organizations (Public Cloud).

Cloud computing relies on sharing of resources to achieve coherence (or consistency) and economies of

scale. It has positive impact on the business organizations as it increases the revenue and helps them to achieve the business goals. Companies normally prefer to use the services offered by the cloud rather than building their own infrastructure.

(6) Crypto Currencies:

A crypto currency is a digital asset designed to work as a medium of exchange that uses strong cryptography to secure financial transactions, control the creation of additional units, and verify the transfer of assets. Crypto currencies use decentralized control as opposed to centralized digital currency and central banking systems.

The decentralized control of each crypto currency works through distributed ledger technology, typically a blockchain, that serves as a public financial transaction database. Bitcoin, first released as open-source software in 2009, is generally considered the first decentralized cryptocurrency. Since the release of bitcoin, over 6,000 altcoins (alternative variants of bitcoin, or other cryptocurrencies) have been created.

Social impact is that Cryptocurrencies leverage blockchain technology to gain decentralization, transparency and immutability (Rosic, 2018).

(7) Cyber Security:

Computer security or Cyber security or information technology security (IT security) is the protection of computer systems from the theft of or damage to their hardware, software or electronic data, as well as, from the disruption or misdirection of the services they provide.

The field is becoming more important due to increased reliance on computer systems, the Internet and wireless network standards, such as, Bluetooth and WiFi, and due to the growth of "smart" devices, including smartphones, televisions and the various devices that constitute the "Internet of things (IoT)".

(8) Internet of Things (IoT):

The Internet of Things (IoT) is a system of interrelated computing devices, mechanical and digital machines, objects, animals or people that are provided with unique identifiers (UIDs) and the ability to transfer data over a network without requiring human-to-human or human-to-computer interaction.

Internet of Things has evolved due to the convergence of real-time analytics, machine learning, commodity sensors and embedded systems. Traditional fields of embedded systems, wireless sensor networks, control systems, automation (including home and building automation) and others all contribute to enabling the Internet of Things.

There are a number of serious concerns about dangers in the growth of IoT, especially in the areas of privacy and security.

(9) Robotics:

Robotics is an interdisciplinary branch of engineering and science that includes mechanical engineering, electronic engineering, information engineering, computer science and others. Robotics deals with the design, construction, operation and use of robots, as well as computer systems for their control, sensory feedback and information processing. These technologies are used to develop machines that can substitute for humans and replicate human actions. Robots can be used in many situations and for lots of purposes, but today many are used in dangerous environments (including bomb detection and deactivation), manufacturing processes, or where humans cannot survive (e.g. in space, under water, in high heat, and clean up and containment of hazardous materials and radiation). Robots can take on any form but some are made to resemble humans in appearance. This is said to help in the acceptance of a robot in certain replicative behaviors usually performed by people. Such robots attempt to replicate walking, lifting, speech, cognition, or any other human activity. Many of today's robots are inspired by nature, contributing to the field of bio-inspired robotics.

(10) Virtual Reality (VR):

Virtual reality (VR) is a simulated experience that can be similar to or completely different from the real world. Applications of virtual reality can include entertainment (i.e. video games) and educational purposes (i.e. medical or military training). Other, distinct types of VR style technology include augmented reality and mixed reality.

Currently standard virtual reality systems use either virtual reality headsets or multi-projected environments to generate realistic images, sounds and other sensations that simulate a user's physical presence in a virtual environment. A person using virtual reality equipment is able to look around the artificial world, move around in it, and interact with virtual features or items. The effect is commonly created by VR headsets consisting of a head-mounted display with a small