What are the technologies driving change? The easiest way to understand the Fourth Industrial Revolution is to focus on the technologies driving it. These include the following:
The blockchain is an incorruptible digital ledger of economic transactions that can be programmed to record not just financial transactions but virtually everything of value. By design, a blockchain is resistant to modification of the data. It is “an open, distributed ledger that can record transactions between two parties efficiently and in a verifiable and permanent way”. For use as a distributed ledger, a blockchain is typically managed by a peer-to-peer network collectively adhering to a protocol for inter-node communication and validating new blocks. Once recorded, the data in any given block cannot be altered retroactively without alteration of all subsequent blocks, which requires consensus of the network majority.
Although blockchain records are not unalterable, blockchains may be considered secure by design and exemplify a distributed computing system with high Byzantine fault tolerance. Decentralized consensus has therefore been claimed with a blockchain
Cloud computing is the on-demand availability of computer system resources, especially data storage and computing power, without direct active management by the user. The term is generally used to describe data centers available to many users over the Internet. Large clouds, predominant today, often have functions distributed over multiple locations from central servers. If the connection to the user is relatively close, it may be designated an edge server.
Augmented reality (AR) is an interactive experience of a real-world environment where the objects that reside in the real-world are enhanced by computer-generated perceptual information, sometimes across multiple sensory modalities, including visual, auditory, haptic, somatosensory and olfactory
Virtual reality systems use either virtual reality headsets or multi-projected environments to generate realistic images, sounds and other sensations that simulate a user’s physical presence in a virtual environment. A person using virtual reality equipment is able to look around the artificial world, move around in it, and interact with virtual features or items. The effect is commonly created by VR headsets consisting of a head-mounted display with a small screen in front of the eyes, but can also be created through specially designed rooms with multiple large screens.
An autonomous car, also known as a robotic car, self-driving car, or driverless car, is a vehicle that is capable of sensing its environment and moving with little or no human input. Autonomous cars combine a variety of sensors to perceive their surroundings, such as radar, Lidar, sonar, GPS, odometry and inertial measurement units. Advanced control systems interpret sensory information to identify appropriate navigation paths, as well as obstacles and relevant signage.
3D printable models may be created with a computer-aided design (CAD) package, via a 3D scanner, or by a plain digital camera and photogrammetry software. 3D printed models created with CAD result in reduced errors and can be corrected before printing, allowing verification in the design of the object before it is printed. The manual modeling process of preparing geometric data for 3D computer graphics is similar to plastic arts such as sculpting. 3D scanning is a process of collecting digital data on the shape and appearance of a real object, creating a digital model based on it.
5G networks are digital cellular networks, in which the service area covered by providers is divided into small geographical areas called cells. Analog signals representing sounds and images are digitized in the phone, converted by an analog to digital converter and transmitted as a stream of bits. All the 5G wireless devices in a cell communicate by radio waves with a local antenna array and low power automated transceiver in the cell, over frequency channels assigned by the transceiver from a common pool of frequencies, which are reused in geographically separated cells.
The Internet of things (IoT) is the extension of Internet connectivity into physical devices and everyday objects. Embedded with electronics, Internet connectivity, and other forms of hardware (such as sensors), these devices can communicate and interact with others over the Internet, and they can be remotely monitored and controlled.
Nanotechnology refers to technology that is implemented at the nanoscale and has applications in the real world. Unique physical and chemical properties of nanomaterials can be exploited for applications that benefit society. Nanotechnology is defined as the study and use of structures between 1 nanometer and 100 nanometers in size. To give you an idea of how small that is, it would take eight hundred 100 nanometer particles side by side to match the width of a human hair.
For thousands of years, humankind has used biotechnology in agriculture, food production, and medicine. The wide concept of “biotech” or “biotechnology” encompasses a wide range of procedures for modifying living organisms according to human purposes, going back to domestication of animals, cultivation of the plants, and “improvements” to these through breeding programs that employ artificial selection and hybridization.
Colloquially, the term “artificial intelligence” is often used to describe machines (or computers) that mimic “cognitive” functions that humans associate with the human mind, such as “learning” and “problem solving”. Human-inspired AI has elements from cognitive and emotional intelligence; understanding human emotions, in addition to cognitive elements, and considering them in their decision making.
Robots can take on any form but some are made to resemble humans in appearance. This is said to help in the acceptance of a robot in certain replicative behaviors usually performed by people. Such robots attempt to replicate walking, lifting, speech, cognition, and basically anything a human can do. Many of today’s robots are inspired by nature, contributing to the field of bio-inspired robotics.
Machine learning is an application of artificial intelligence (AI) that provides systems the ability to automatically learn and improve from experience without being explicitly programmed. Machine learning focuses on the development of computer programs that can access data and use it learn for themselves. Machine learning enables analysis of massive quantities of data. While it generally delivers faster, more accurate results in order to identify profitable opportunities or dangerous risks, it may also require additional time and resources to train it properly.
Combining machine learning with AI and cognitive technologies can make it even more effective in processing large volumes of information
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