Industry 4.0’s global revolution levels the playing field The fourth industrial revolution is unique in that the technology powering new industry has been completely democratized. Entrepreneurs only need an idea and knowhow to develop the next Uber – and the global nature of venture capital. Thus, this era will not be a Western-dominated revolution, in our view, but a global phenomenon with contributions from all over the world. The US and Silicon Valley will of course do a lot of the heavy lifting, but startups and tech giants in China, Singapore, Japan, South Korea, Taiwan and India have already made remarkable inroads in various technology segments and are increasingly pushing the envelope as the benefits of being part of this journey become clearer with each innovation.

Industry 4.0’s global revolution levels the playing field

The fourth industrial revolution is unique in that the technology powering new industry has been completely democratized.

Entrepreneurs only need an idea and knowhow to develop the next Uber – and the global nature of venture capital. Thus, this era will not be a Western-dominated revolution, in our view, but a global phenomenon with contributions from all over the world.

The US and Silicon Valley will of course do a lot of the heavy lifting, but startups and tech giants in China, Singapore, Japan, South Korea, Taiwan and India have already made remarkable inroads in various technology segments and are increasingly pushing the envelope as the benefits of being part of this journey become clearer with each innovation.

https://www.ubs.com/microsites/artificial-intelligence/en/ai-coming-age.html

Surpassing human intelligence

Life in the following thirty years will likely become almost alien to today’s observer, similar to how we view life in the 1940s and 1950s.

This will be particularly evident as we get closer to the half-century mark. As technology continues to progress by leaps and bounds, radical advances in quantum computing will add a new dimension to our ability to create and solve. This period will become a golden era in the advancement of all things technological – the ever-accelerating development of AI will compound the pace at which we invent.

Like all technologies, AI will be created with a singular purpose: to aid humanity. Naysayers and Hollywood moviegoers need not fear the rise of the machines. On the contrary, self-aware robots and programs will become instrumental in our quest to resolve society’s mega-challenges like climate change, antibiotic-resistant bacteria and diseases, aging populations and many more. And if you think your iPhone is cutting-edge, think about the possibilities of AI-powered consumer devices; gone will be the days of fat-fingered typos and lost GPS signals.

By 2030, increasingly useful applications of AI will translate into meaningful social and economic changes. One such outcome, for example, will be much lower costs of traditional goods and services, which will effectively narrow socioeconomic disparities worldwide, as AI eliminates imperfections in supply chains and enhances overall productivity.

AI

Likewise, AI could have a profound impact on low-income communities via vastly improved oversight of resources like food and water, education and healthcare accessibility, and dissemination of social services.

As a standalone industry possibly worth USD 100 billion by 2030 and USD 500 billion by 2050, the investments made today will likely bear tremendous fruit in the decades ahead. The UBS long-term investment themes of robotics and automation, digital data and e-commerce would directly benefit from such high rates of consistent growth.

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