The social economy and the Fourth Industrial Revolution

Abstract

The Fourth Industrial Revolution (4IR) is a broad framework or umbrella term covering data and technologies like artificial intelligence (AI), and their links to physical objects, such as infrastructures, cars, homes, and cities. It represents important and very real trends, but unfortunately, most of the commentary about it—both enthusiastic and critical—takes a technological determinist view. Most people assume that new technologies directly shape society, either generating new wealth or corroding democracy, rather than recognizing that society can shape the direction of research and development (R&D) and decide how technologies are used.