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Technological unemployment is the loss of jobs caused by technological change. [1] [2] [3] It is a key type of structural unemployment.Technological change typically includes the introduction of labour-saving "mechanical-muscle" machines or more efficient "mechanical-mind" processes (), and humans' role in these processes are minimized. [4]
An 1880 penny-farthing (left), and a 1886 Rover safety bicycle with gearing. In business theory, disruptive innovation is innovation that creates a new market and value network or enters at the bottom of an existing market and eventually displaces established market-leading firms, products, and alliances. [1]
The phrase Fourth Industrial Revolution was first introduced by a team of scientists developing a high-tech strategy for the German government. [13] Klaus Schwab, executive chairman of the World Economic Forum (WEF), introduced the phrase to a wider audience in a 2015 article published by Foreign Affairs. [14] "
Productivity-improving technologies date back to antiquity, with rather slow progress until the late Middle Ages. Important examples of early to medieval European technology include the water wheel, the horse collar, the spinning wheel, the three-field system (after 1500 the four-field system—see crop rotation) and the blast furnace.
The importance of stone tools, circa 2.5 million years ago, is considered fundamental in the human development in the hunting hypothesis. [citation needed]Primatologist, Richard Wrangham, theorizes that the control of fire by early humans and the associated development of cooking was the spark that radically changed human evolution. [2]
Knowledge industries are those industries which are based on their intensive use of technology and/or human capital. [1] While most industries are dependent in some way on knowledge as inputs, knowledge industries are particularly dependent on knowledge and technology to generate revenue. Some industries that are included in this category ...
Potential high-growth emerging economies will have leverage in pursuing their national interests by maintaining an unaligned position with respect to the strategic competition between China and ...
A technological revolution is a period in which one or more technologies is replaced by another new technology in a short amount of time. It is a time of accelerated technological progress characterized by innovations whose rapid application and diffusion typically cause an abrupt change in society.