THE FOURTH INDUSTRIAL REVOLUTION AND ITS POSSIBLE CONSEQUENCES

Abstract

The article is devoted to the problems concerning society entering a new phase of development - the fourth industrial revolution, which global fundamental nature is demonstrated by the changes observed in all spheres of society. The author is faced with the task to show that the essential characteristic of the changes is the transition to a fully automated digital production, managed by intelligent systems. Also it is equally important to draw readers' attention to the issues of comprehensiveness of the technological revolution and its speed of development. It is necessary to demonstrate that the fourth industrial revolution will have affect on all major macro-variables, such as GDP, investment, trade, inflation, employment, consumption and etc. The changes man and society are to face will have both positive and negative significance.

Keywords

• fourth industrial revolution
• industry 4.0
• digital technologies
• automation
• internet of things
• specialization