Hyderabad selected to host WEF Center for the Fourth Industrial Revolution

Tags: National News

The World Economic Forum (WEF) has chosen Hyderabad to set up its Center for the Fourth Industrial Revolution focused on healthcare and life sciences.

An overview of the news

• The announcement was made after the Telangana government and the World Economic Forum signed a cooperation agreement during the Forum's annual meeting in Davos recently.

• The collaboration agreement was signed by Jeremy Jurgens, Managing Director, WEF and Sakthi Nagappan, Chief Executive Officer, Telangana Life Sciences Foundation.

• Centre for the Fourth Industrial Revolution (C4IR) Telangana will be an autonomous, non-profit organisation that will focus on healthcare and life sciences.

• C4IR is the 18th centre to join the 4th Industrial Revolution Network of Telangana Forum, which is spread across four continents.

What is the fourth industrial revolution?

• The Fourth Industrial Revolution represents a fundamental change in the way we live, work and connect with each other.

• It is a new chapter in human development, enabled by an extraordinary technological advance commensurate with the First, Second and Third Industrial Revolutions.

• The key technologies involved are cloud computing, big data, cyber security, simulation, additive manufacturing and Internet of Things (IoT).

Other industrial revolution

• First Industrial Revolution (in the 1800s): Water and steam power were used to mechanize production. An example of this is the steam engine.

• Second Industrial Revolution (early 1900s): It used electricity for mass production. Electricity is an example of this.

• Third Industrial Revolution (late 1900s): Electronics and information technology were used to automate production. Computers and the Internet are examples of this.