Abstract
The economic history is full of technical disruptive innovations, which have changed the markets and the ways of living and business. The innovations, starting from steam power, electricity, telegraphs, internal combustion engine, and continuing with mainframes, PCs, the internet, and mobile/social networking, have changed the business world. Still, new disruptive technologies are developing, and new innovations are emerging. This study maps the drivers of industrial revolution and considers the promising contemporary potentially disruptive innovations, such as blockchain technology and cybernetics. This article suggests the existence of two (or even more) industrial revolutions at the same time.
TopBackground
Literature review is based on two parts: systematic literature review and completed contemporary perspectives about literature, which is focused on disruptions, industrial revolutions and their backgrounding (joint) features linked with data science and/or machinery. Systematic literature review has the first 25 most relevant references from EBSCO database with keywords “industrial revolution” (the search including “…”), which were available (full text). This search was on 28th September, 2016. The main results of this search are presented in Appendix 1.
Key Terms in this Chapter
Path Dependence Model: Historical sequences in which contingent events set into motion institutional patterns or event chains.
Blockchain: Technology, which is based on peer-to-peer technology.
Additive Manufacturing: Technology, which is especially based on 3D printing.
Disruption: Technological shock and innovation, which affects all other technologies that define our socio- economic system.
Digitalizing: Technology, which leans on computers and other digital tools and frameworks.
Cybernetics: Controlling systems, which are also necessary in the latest AI innovations.
Industrial Revolution: Linked with all-inclusive technological disruption, which have large economic and societal long-run impacts.