Developing Global Relevant Skills in the Fourth Industrial Revolution

Developing Global Relevant Skills in the Fourth Industrial Revolution

Ayansola Olatunji Ayandibu, Irrshad Kaseeram, Makhosazana Faith Vezi-Magigaba, Olufemi Michael Oladejo
Copyright: © 2021 |Pages: 14
DOI: 10.4018/978-1-7998-3347-5.ch016
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Abstract

This chapter carries out extensive review of literature on the 4th Industrial Revolution. In the last decades, many stakeholders such as industries, governments, employers and employers' organisations, workers and their unions, and academics have expressed divergent opinion of the 4th Industrial Revolution. The 4th industrial revolution is the 4th stage of a mechanical movement process that began towards the end of the 18th century where mechanised production replaced manual production process. Research shows that the 4th Industrial Revolution brought about ‘disruptive technologies' such as artificial intelligence, robotics, blockchain, and 3D printing, which transforms social, economic, and political systems, often in unpredictable ways.
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Historical Background Of The 4Th Industrial Revolution

Since the emergence of the capital firm, historical events have revealed that there was paradigm shift in the firm which coincides with Industrial Revolutions. Additionally, in today’s information communication technology (ICT) many firms have witnessed another important shift in information communication technology. According to More (2002), since Toynbee in 1884, historians had difficulty in unraveling the Gordian knot of the British Industrial Revolution. While some have tried to unpick it, others on the other hand tried to cut through it. However, if the knote has been loosened here or there it remains largely secure (More, 2002). The perspectives on the evolution of the Fourth Industrial Revolution have rarely had a long life. Given the increased in most economies it has proved very difficult to link the Industrial Revolution and economy together in an exploratory framework (More, 2002).

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