Artificial Intelligence and its impact on the Fourth Industrial Revolution: A Review

TL;DR

This review explores how artificial intelligence is driving the fourth industrial revolution, highlighting its rapid development, potential benefits, risks, and the importance of global collaboration for responsible implementation.

Contribution

It provides a comprehensive overview of AI development, trends, and strategies within the context of the fourth industrial revolution, emphasizing the need for coordinated efforts.

Findings

AI could revolutionize industries with unprecedented speed and scope.

Emerging technologies offer significant benefits but also pose existential risks.

Global collaboration is essential for responsible AI development and deployment.

Abstract

Artificial Intelligence may revolutionize everything during the so-called fourth industrial revolution, which carries several emerging technologies and could progress without precedents in human history due to its speed and scope. Government, academia, industry, and civil society show interest in understanding the multidimensional impact of the emerging industrial revolution; however, its development is hard to predict. Experts consider emerging technologies could bring tremendous benefits to humanity; at the same time, they could pose an existential risk. This paper reviews the development and trends in AI, as well as the benefits, risks, and strategies in the field. During the course of the emerging industrial revolution, the common good may be achieved in a collaborative environment of shared interests and the hardest work will be the implementation and monitoring of projects at a global scale.