Fourth Industrial Revolution Current Affairs - 2020
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The World Economic Forum began on January 21, 2020 in Davos. The highlight of the forum this year is over its initiative to plant 1 trillion trees in the next decade and also to equip 1 billion people with fourth industrial revolution. The forum has released a report on the role of passwords in cyber crimes. According to the report, fourth industrial revolution reduces cost spent on maintaining passwords and their secrecy.
Highlights: 1 Trillion Trees
The World Economic Forum has joined the “Tree Trillion Campaign” that was launched by UNEP (United Nations Environment Programme) in 2006 as “Billion Tree Campaign”. In 2011, the project was handed over to Plant for the Planet (a NGO).
The forum has launched 1t.org platform in order to support the campaign. Through the platform, the forum aims to bring together the leading businesses, governments, civil societies and entrepreneurs all over the world.
The initiative is being supported by the US, though it secluded itself from the initiative earlier.
Highlights: Role of Password
On January 22, 2020, the World Economic Forum released report on passwords and the cost involved in maintaining their secrecy. According to the report, cybercrime is to cost 2.9 billion USD to the global economy. Around 50% of IT Help Desk costs are spent on password resets. Therefore, it is essential to shift the password-based system towards Artificial Intelligence and other fourth Industrial Revolution technologies.
The report suggests top 5 technologies for password protection. It includes behavioural analytics, biometrics, QR codes, zero-knowledge proofs and security keys.
Tags: Biometric Data • cybercrime • Fourth Industrial Revolution • QR code • Security
On January 22, 2020, India joined Reskilling Revolution initiative of World Economic Forum. It helps economies to adopt o changes being introduced by Fourth Industrial Revolution.
India joined the Reskilling Revolution Initiative launched at the World Economic Forum as founding member. The other founding members include US, UAE, Russia, Pakistan, France and Brazil. The initiative aims at providing better education, jobs and skills for more than 1 billion people in the world by 2030.
According to the World Economic Forum, around 75 million jobs are to displaced. This is predominantly because of technological integration and automation. The transformation will also create large scale unemployment affecting the labour population greatly. It will also create demand for 133 million new jobs. Therefore, it is essential to shift the labour population towards the requirement of the technology upgrade. In order to achieve this, the Reskilling Revolution Platform has been launched.
In order to achieve the reskilling, the World Economic Forum also released a report namely “Jobs of Tomorrow: Mapping Opportunity in the New Economy”. The report mapped 96 new emerging jobs in seven fastest growing professions based on new technologies.
Fourth Industrial Revolution
The transformation is happening mainly due to fourth industrial revolution. Fourth Industrial Revolution is the developing environment where robotics, Internet of Things and Artificial Intelligence are changing the lives of people globally. It has increased machine operated automation and changed the labour force involved.
Tags: 4th Industrial Revolution • Artificial Intelligence • Fourth Industrial Revolution • labour market • Labour Reforms