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The fourth

industrial

revolution

takes this

a stage

further by

implementing

a fusion of

emerging

technologies

across the

digital,

physical and

biological

spheres

Henry Ford mass

produces the

Ford Model T

Beginning

of the third

industrial

revolution

Industries now fully

implement technologies

such AI, robotics, 5G,

nanotechnology and

blockchain

Beginning

of the 4th

industrial

revolution

1908

1960s

2020+

2010s

causing a number of problems including; respiratory

disease, poor visibility on the roads and an increase in

traffic-related deaths. Legislation including the 1875 Public

Health Act and the 1926 Smoke Abatement Act was

aimed at reducing pollution, but it was not until the Great

London Smog of 1952 and the subsequent Clean Air Acts

of 1956/1968 that any positive changes were seen. These

improvements have since been largely reversed by the

use of motor vehicles across the capital, although green

initiatives such as the congestion charge help to reduce

the overall impact.

There is often confusion surrounding the difference

between the third and fourth industrial revolutions, but the

characteristics of each era are subtly different. The third

industrial revolution was responsible for the shift away

from reliance on physical products, marking the start of

the Information Age. It was characterised by the use of

electronics and IT to automate production, prompted by

the advent of computers in the late 1960s. London was a

huge beneficiary from the subsequent process changes,

which shifted its economy in the direction of the service

industries, where it continues to excel. The introduction

of home computing, mobile phones and widespread use

of the internet radically changed the way we live and

work. The media sector, so long a stalwart of Fleet Street,

adapted new computerised printing and relocated to

Wapping; banking migrated to electronic screen based

trading, word processers replaced the typing pool, e-mail

supplanted the letter, while teleworking was the hot new

trend. All of which enabled historic location ties and

clusters to be disrupted, and new areas of London opening

up to businesses.

The fourth industrial revolution takes this a stage

further by implementing a fusion of emerging technologies

across the digital, physical and biological spheres. These

technological advances are occurring at an ever-increasing

rate, with a transition from linear to exponential growth

seen in recent years. The scope of this high-velocity

change will affect all sectors, but also the processes within

organisations. This will inevitably lead to changes in the

way we work and live, with technologies such as artificial

intelligence, blockchain, robotics, internet of things, 5G

mobile networks, nanotechnology, autonomous vehicles

and quantum computing all acting as catalysts for shifts in

management, production and governance.

Many of these technologies deliver automation of work

processes, particularly low value or low skill tasks such as

data entry; however the impact is wider. Many traditional

CUSHMAN & WAKEFIELD

29

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