Industrial revolution in human history is usually classified as follows:
- First Industrial Revolution, 18th to 19th century: movement into new manufacturing processes, particularly hand-production method to the use of machines.
- Second Industrial Revolution, early 20th century: Advent More efficient management methods, the assembly line, railways, telegraph, sewage systems etc.
- Third Industrial Revolution late 20th century: IT, computers, internet, basic robotics etc.
- Fourth Industrial Revolution, 21st century: Internet of Things, Big Data, Cognitive Computing, Machine Learning etc.
Each Industrial revolution is characterized by growth in sovereign wealth, sustained rises in standards of living, changing labor and demographic dynamics, increased demand, and an inevitable seepage of technological advancements into the banking sector.
Industry 4.0 will change the way we work, live and interact with each other, how do we respond?
Learn more here: Deloitte Industry 4.0