Industrial or Other Revolution, Wave of Innovation or Civilization Happens?

Abstract

“Industry 4.0” and “4th industrial revolution” are well-known, frequently mentioned expressions, but are subjects of criticism. The least important criticism is that there are differences between the contents of various versions of the “numbered industrial revolutions”. More important is the one that says that the curves of human well-being and empowerment indicators bent only during the “1st” industrial revolution, the “2nd” and “3rd” just continued that trajectory. The “1st” industrial revolution created capitalism, but none of the “others” brought any comparable change. There are alternative theories with different numbers of innovation waves. The Boston Consulting Group’s actual wave roots in the idea that deep technology typically brings information technology into physical products. If we broaden our scope to the whole history of mankind, we can distinguish an agricultural, an industrial and an information technology revolution. Perhaps an artificial intelligence revolution could be separated from the information technology revolution. This paper explores and compares these different approaches. The paper suggests that if we give the label ‘industrial revolution’ too lightly, we will devalue it and not take seriously enough the real, expected, truly life-changing wave.