The world we live today is deeply connected and wired in more than one way. Impact of technology is felt across both corporations and individuals in the same way. Economic development and social upliftment of citizens globally is underpinned by the rapid advancement of digitization. The First Industrial Revolution witnessed the use of machines, water and steam, which lead to first ever industrial production. The Second used electric power to create mass production. This phase also lead to standardisation, brand creation and mass consumption. The Third used electronics and information technology to automate production.
Now a Fourth Industrial Revolution is building on the Third, the digital revolution that has been occurring since the middle of the last century. It is characterized by a fusion of technologies that is blurring the lines between the physical, digital, and biological spheres. The possibilities of billions of people connected by mobile devices, with unprecedented processing power, storage capacity, and access to knowledge, are unlimited.
According to global digital snapshot by We are Social and Hootsuite, the world around us is actively connected and wired into the digital world. 50% of the world is connected to the internet, and is now well and truly interacting and transacting through digital channels. This is surely the age of digitisation, where the world is now connected instantly.
