Fourth Industrial revolution, Advantages &Perils


Our future according to Yuval Noah Harari, a lecturer at the Hebrew University in Jerusalem, in his new book “Homo Deus” says ” more of us will be pushed out of employment by intelligent robots and on to the economic scrap heap”. Yes, we are on the cusp of imminent change with the advent of fourth industrial revolution catching momentum in the most advanced economies. Preceding to this we as human beings had traversed three successive revolutions each one was better than the later, because of our quest to better our lives by increasing the production commensurates with the ever increase in demand. The First industrial revolution took place between 18th and 19th century which marked the beginning of agrarian society becoming industrial and Urban along with invention of steam engine, The second industrial revolution between (1870 and 1940) characterised by steel, oil, electricity & internal combustion engine had helped in mass production and followed by Third industrial revolution started in 1980’s which was significant in many ways using the power of technology, internet and achievements in the sphere of  information technology space.

Fourth Industrial revolution

In the fourth industrial revolution is going to surpass everything that we could ever think of. It represents a fundamental change in the way we live, works and relates to one another. The beginning of new chapter enabled by extraordinary advances in technology. These advances merge the capabilities of the physical, digital and biological world. The immense potential throws out the huge promise and its potential peril. Perhaps in future, we can look beyond it as not just technology per se but an opportunity to improve the conditions of everyone with an inclusive approach.

Disruption to jobs and Skills.

The disruptions to existing models will create a huge impact on jobs ie means opportunity for new kind of jobs as well as the displacement of existing jobs. It could create a positive impact on gender parity, use of AI and Robotics and also has the potential to make the mobility more robust.

Innovation and productivity

The traditional models failed in measuring the capabilities hence cannot be actually measured. At present more than two billion remains disconnected from the global economy, But once the Fourth Industrial starts running in its full steam these disparities and gaps could be narrowed by increasing the productivity in an equitable manner.

Inequality

As per the Global Wealth Report published by Swiss bank Credit Suisse in 2015, Richest 1% of the global population controls half of all of the assets in the world. while the bottom half of the population held less than 1% of all wealth. Even those regions in the world were economic growth picked up has seen increased stress and inequality. So it remains to be seen how far fourth industrial revolution could usher rapid change in the society.

Agile Governance

The power of fourth Industrial revolution can be harnessed by governance for delivering better governance which is more accessible and helps in increasing transparency and trust. On the flipside, it can also threaten the social contract between the government and citizens.

Security and conflict

The Fourth Industrial Revolution can affect the scale and nature of conflicts. Meanwhile, new technologies are making the battlefield increasingly local and as well as global. Terrorist groups use the social media to recruit fighters to fight against the state. The combination of traditional battlefield techniques with technology is making modern conflicts more hybrid in nature. So future wars can disrupt the communication systems and narrow the line between war and peace.

Business disruption

Future disruptions in the existing business models will be a shift towards new kind of relationship between customer and business models. The new kind relationship is going to be nothing but all time connected model leveraging the power of mobile communications.WhatsApp mobile messaging service reported that its users were sending 42 billion messages every day. The Alibaba Chinese internet commerce giant Alibaba completed $14 billion online transactions on a single day through Mobile device.

Fusing Technologies

The Fourth Industrial Revolution marks the beginning of the fusion of technologies and growing harmonisation of different disciplines, The technologies like Virtual Augmented reality, 3d Printing, sensors, Biotechnology, Blockchain, Artificial Intelligence and robotics etc.

Ethics and Identity

Fouth industrial revolution triggered new changes in disciplines like biotechnology and AI, also redefining the limits of lifespan, health, cognition and other capabilities which were once considered as a fiction. In 2010 University of Michigan Institute for Social Research identified that nearly 40% decline in empathy among college students compared with their counterparts 20 or 30 years before.

 

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Three years of Modi govt


3years of ModiModi came to the national politics as one of prominent political personality who derives his strength from the earlier days as an RSS pracharak, Later became an undisputable leader for BJP in Gujarat,  ruled the state as  CM  for three consecutive terms. His rise to prominence in national politics was even more successful and illustrious in terms of carving out a biggest victory for BJP as a political alternative to congress. He is considered as the most effective campaigner for party, and also considered as powerful personality who repeatedly shown how to attract & address large gatherings in many parts of India with his effective oratory skills above all his penchant to sells dreams to the people of the nation, He promised  the people  to change the nation’s fate if he is elected to power  , His power slogans “Sab ka Saath sab ka Vikas “ roughly translates to being with everyone and development for all. Modi has completed three years in power, but still many of his promises still remain unfulfilled, but few areas in governance has seen some marked improvement compared to the previous governments. The expectation from this Govt is really huge, mammoth tasks to accomplish. But how far he is successful in fulfilling those promises is a million dollar question.

Corruption & red-tapism

We need to give thumbs up for the Modi government, that high-level corruption has reduced significantly, Because of the ultimate power, control vests in the hands of Mr. Modi. Highly centralized decision making,  absolute control over the governance & party leaves no room for his cabinet ministers to bypass. Right from planning to final roll out of schemes his signature is almost there in every decision govt takes. So in terms of control and direction, the PM scores high, which resulted in the corruption levels to come down. When previous UPA govt is marred with scams after scams, Govt under Modi is able to cultivate a neat and clean face in the eyes of the public.

Vision & agenda

I think Modi is successful in setting up a vision which sets everyone to appreciate him, He visualized& coined the initiatives like  Startup and Stand up India and Make in India which truly signifies the vision with a futuristic move to make India completely self-reliant and make our economy strong and vibrant. The idea to promote entrepreneurship and making India a manufacturing Hub are very much the right set of intiavies to take our nation to a force to reckon with.  However Modi promised to create two millions of jobs,  But ironically the the job losses are on an  alarmingly high rate, which might put the economy in  a state of paralysis.

Economy & Growth

GDP and others figures  shows a reason to be happy  , how ever  growth in agriculture is seeing steady decline with increasingly higher rate of farmer’s suicide. Informal sector economy is completely out of sorts and after demonetization   things have  only aggravated . The jury is still not out on demontisation, it seems to be that the benefit expected out of this drive  did  not yield results as predicted. But the successful  passage of GST bill in both houses is considered as shining one in its armory. There are disputable claims and doubts expressed on GDP figures and manner in which figures are arrived at. But generally the Modi is successful in creating an impression that he is honestly putting all his effort to take the country to growth trajectory.

Nationalism & unrest

I think ever since Modi came to power , the freedom of expression , voices of dissent are treated  with disdain,  stamped with the  tag of anti nationalist.  The culture of majortanism has taken control over the basic democratic principles of  tolerance , health discussions and deliberations. The self proclaimed vigilantism  on what to eat and wear became daily affairs in many of the BJP rules states. Modi so far is not successful in reining in those fringe groups who runs freely taking law on their hands. This approach of the govt has made  the minorities to feel  more insecure. The Kashmir issue has seen heightened tensions and deaths of locals after fighting with security personals. The Govt should have acted more responsibly in dealing with issues in Kashmir.

Foreign relations & forging ties

Modi is always in the news  while visiting foreign nations and  he is successful in forging some good relationship with foreign countries and continued to strengthen the relationship with USA  and other European countries . But on the flipside the relationship with china is certainly a reason to be worry for. As an amibitious and powerful nation in south Asia , Our relationship with close neigbours especially Srilanka& Nepal is not in best of it terms.

Conclusion

But overall if you take the last three years of Pm Modi , certainly this govt has done certain things right but  there are areas which need more to be done especially issues of   maintaining social harmony and Promoting consent in issues of national importance, Unilateral decision making without considering the views of opposition parties is not a good sign for healthy matured  democracy like Bharath.