Forward Motion: The Fourth Industrial Revolution Is Happening Now – Forbes

Advances in technology, robotics, genetic engineering, quantum computing will blur the boundaries ... [+] between the digital, physical, and biological worlds, and usher in a whole new set of complex challenges for business leaders.

by Lisa Chau

Current smart technology has ushered in theFourth Industrial Revolution, a new era integrating communications with automating industrial practices and traditional manufacturing.

Through this improved communication, smart devices make human intervention unnecessary as machines communicate, self-diagnose and solve problems. While these new products and services may increase efficiency, analysts say they should be as ethical as possible, given their impact on our lives.

Advances in AI, theinternet of things(IoT), 3-D printing, robotics, genetic engineering, quantum computing will blur the boundaries between the digital, physical, and biological worlds, and with them usher in a whole new set of complex challenges for business leaders to negotiate.

For more than 20 years, technology has become ingrained in our lives. Email is mobile. Slack, Discord, Microsoft Teams and Cisco Webex are commonplace.

Consumers love technology because it makes their lives easier.Companies love technology because it makes money.However, consumers are weary of intrusive technology that oversteps its role, and companies falter if ethics and inclusivity are disregarded.

Modern tech users are more aware of the misuse of personal data, the spread of false information and manipulation.They don't want retailers selling personal details without their consent; social media influencing the news they read; or corporate algorithms favoring some groups other others.

Industry observers argue Fourth Industrial Technology Revolution must use ethics and inclusiveness ... [+] as guiding principles.

According to Harvard's Christina Pazzanese, Big Tech firms and other large organizations have exposed themselves as data is collected, social media is manipulated and algorithms favor some over others. She believes future technology must be married with ethics.

Ultimately, whether stocking the field with designers, technicians, executives, investors, and policymakers will bring about a more responsible and ethical era of technology remains to be seen. But leaving the industry to self-police or wait for market forces to guide reforms clearly hasnt worked so far,Pazzanese writes.

Her Harvard colleague, research professor Barbara Grosz, said, You need to think about what information youre collecting when youre designing what youre going to collect, not collect everything and then say I shouldnt have this information.

The question is not whether technology is good nor bad, but how it's designed and used.

To navigate the Fourth Industrial Revolution, companies should apply the following four strategies:

1. Design with frameworks that implement product, policy, law and ethics to ensure basic human rights are protected for every user.

2. Maintain diverse teams within the organization to generate insights, provide feedback, and oversee products and services before they go to market.

3. Engage stakeholders and established leaders quarterly to guide company core principles and values.

4. Leverage data-driven research on emerging trends to assess risk and support a movement towards industry-wide applications of ethics while including all segments of society.

Two computer programmers write code.

Penn State University doctoral student Christen Buckley argues data collection and its use must be done carefully sophisticated data analysis can identify discrimination in voting, housing, education and other necessary areas of society, but it can also have negative consequences.

More often the way data is collected and used reinforces socioeconomic divisions and power hierarchies. Generally, governments and corporate entities alike are startlingly bad at protecting vulnerable communities and their data.Problematic collection and use of such data is only made worse by a collect first, consider ethics later mentality, Buckley wrote. The possibility of profiling or inadvertently revealing individuals membership to certain groups may be acknowledged, but addressing them is not prioritized.

Grace Barkhuff, a former product manager, is trying to understand as a Georgia Tech graduate student the rights a person has online. These include: the right to access the internet, the digital divide, the right against harassment online and cyberattacks, the right to free speech, equality in access and treatment online, the right to data ownership, the right to personal IP, and the requirement to consider environmental impacts of digital use.

Analysts say future technology will be stronger and better by including diverse viewpoints.

She wants to see General Data Protection Regulation, or GDPR, adopted in the United States across industries.

Did you know that if you've ever used [dating app]Tinder, the company has what would be a binder-full of data on you? Your preferences, times you logged in, every conversation you've ever had, said Barkhuff.They know when you're lonely. They know when you're dating or not dating. Tinder has no interest in deleting this information, that is, until GDPR came around and forced them to at least allow European users to request their information be deleted.

An executive with cognitive AI technology company Supercharge Lab said businesses are currently in a transitional phase, and companies are being forced to re-evaluate their past practices.

For organizations to compete in an evolving landscape of 'rage against the corporate machine', building ethical applications of their solutions is critical and this can be accomplished by first ensuring we build technology that does no harm, then by continuously auditing outcomes against a strong moral compass., company founder Anne Cheng said.Generation Z and the generations that come after will lead the change to ensure that only the good will survive.

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Forward Motion: The Fourth Industrial Revolution Is Happening Now - Forbes