Industry 4.0—transition to new economic reality

Abstract

The Fourth Industrial Revolution has already begun. It will lead to maximum consideration of consumers’ preferences. The purpose of the chapter is to describe the characteristics of the Fourth Industrial Revolution, make a forecast for the contents of the Fifth Industrial Revolution, and emphasize the fundamental role of Industry 4.0 in economic development of Russia. The conclusions are based on analysis of the trends of the indicators of the technological progress and specific efforts for development of the direction of Industry 4.0.