What is Third Industrial Revolution

This chapter identifies the drivers and challenges of the fourth industrial revolution. The fourth industrial revolution consists of artificial intelligence, big data, robotics, and many others technological innovations. The recent transformation in the global environment is affecting the way businesses are conducted, managed, and the way governments and societies are run. Today, business analysts are faced with the challenge of managing both human and digital workforce effectively without making any stakeholder in the business environment worse off. Hence, human capital management in the fourth industrial revolution involves effective development and deployment of human resources, artificial intelligence, and robotics to achieve organisational goals and objectives. It is expected that the principles underlying human capital management—planning, staffing, development, compensation, and investment in digital workforce—will become more intense and complex.