We are in the midst of an important paradigm shift. The technological revolution that we are currently in will radically change the way we shop, work and live. To get further insight into how these changes will impact and shape the future of manufacturing we recommend that you have a look at this TED-talk by Oliver Scalabre who is an Industrial Systems thinker at BCG.
During this TED-talk Scalabre describes the three preceding industrial revolutions and how technological trends have changed manufacturing and our lives. Scalabre also talks about the coming fourth manufacturing revolution and the ways it will create a macroeconomic shift which in turn will boost productivity and growth. For further reading on this subject, we highly recommend that you read this article by World Economic Forum.
Scalabre does not, however, address the fact that productivity and job growth (which historically have gone hand in hand) are starting to decouple. This means that in the future we might experience productivity and economic growth, but not job growth at the same level. Andrew McAfee and Eric Brynjolfsson, the authors of the book The Second Machine Age: Work, progress, and prosperity in a time of brilliant technologies, argue that this is because increasingly robots and technologies are stealing our jobs. Just think about all the jobs that will be replaced when driverless trucks and self-driving cars will become the new norm.
Meanwhile, the automation and new technologies such as 3D-printing will also bring a lot of benefits. It will enable us to create smarter products that can be customised for our own needs. And similarly to Scalabre, we at Thinque believe and hope that the next industrial revolution will give birth to more sustainable manufacturing.
What do you think about Oliver Scalabre's talk? Do you think his analysis and conclusions are correct? We'd love to hear your thoughts!