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Technological Innovation – A Boon or a Bane?

How firms operate and how productive they can become may alter dramatically during the fourth industrial revolution. Simply put, the current industrial revolution integrates technology in previously unthinkable ways. The Internet of Things, gene editing, autonomous vehicles, 3-D printing, and quantum computing are just a few of the advanced technological innovations. The potential of the fourth industrial revolution is enormous. Technological innovation will have numerous benefits for people, businesses, and society, but it will also present a few obstacles. This article at Quality Digest by Ruth Castel-Branco and Hannah Dawson shares the views of a political analyst and a historian on the Fourth Industrial Revolution.

Technological Innovation You Must Focus On

Storyteller and political analyst Nanjala Nyabola’s “Digital Democracy, Analogue Politics” explores the Fourth Industrial Revolution chronology. She elaborates on the views of Karl Schwab, The Fourth Industrial Revolution’s chief ideologue of the World Economic Forum. He contends that technological innovation transforms how people live, work, and relate to one another. Their view is that digital technology is not predetermined or linear in its development, use, or consequences. The challenge is harnessing digital innovations to enhance work and life conditions while remaining accountable. You must use technological innovation to build progressive nations and transform unequal social relations.

Challenges of Technological Evolution

Ian Moll, a historian, wonders if the current explosion of digital technology advancements qualifies as an industrial revolution. Instead, they are fueled by adjustments to the labor process, fundamental adjustments to workplace dynamics, changes in social dynamics, and worldwide socioeconomic restructuring. It is evident that the structure of the labor market and working circumstances are changing because of technological innovation.

Despite opposition, the African Union (AU) sees the Fourth Industrial Revolution as a “watershed moment for Africa’s growth.” The AU calls it “an opportunity to accelerate into the digital era, boost global competitiveness, and create new sources of employment.” Scholar-activist Trevor Ngwane makes the case in his book “The Fourth Industrial Revolution: A Sociological Critique” that technological advancement can benefit the working class. The problem is that a transnational capitalist class monopolizes technological advancement’s benefits.

Additionally, the author speaks about setting parameters for what tech should do.

To read the original article, click on https://www.qualitydigest.com/inside/innovation-article/fourth-industrial-revolution-seductive-idea-requiring-critical-engagement.

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