2. The Fourth Industrial Revolution: An Introduction to Its Main Elements

This chapter's main goal is to identify key distinctions between the Fourth Industrial Revolution and earlier industrial revolutions. The attributes that are a sign of all industrial revolutions are used in the chapter to demonstrate that the transition to the Fourth Industrial Revolution is a new industrial revolution. These attributes include changes in the types of technological modes because of widespread adoption of accumulated industrial innovations and systemic changes in a variety of industries, including education, finance, the manufacturing industry, and logistics, among others. The chapter emphasizes how the Fourth Industrial Revolution is unprecedented and has a variety of unique characteristics when compared to other industrial revolutions. The chapter also highlights that due to the massive developments of the Fourth Industrial Revolution, there is a global shift in the way people transacted money from old methods like visiting banks or moneylenders or paying with checks or cash to digital methods like mobile money, ATMs, and online transactions, among others.