The main differences between the four industrial revolutions are the technologies used and the resulting impacts on manufacturing, the economy, and society:
Industry 1.0
The first industrial revolution began in the 1760s in England and used water and steam power to mechanize production. This led to more affordable and accessible goods. Industry 1.0 saw the rise of large-scale industries such as textiles, iron, and coal mining.
Industry 2.0
The second industrial revolution began in the 1870s and introduced electricity to power machines. This led to the creation of new jobs and better standards of living. Industry 2.0 brought about mass production in industries such as automobiles.
Industry 3.0
The third industrial revolution began in the 1970s and introduced IT and computer technology to automate processes. This led to increased efficiency and productivity, and improved working conditions. Industry 3.0 introduced automation in industries such as electronics.
Industry 4.0
The term “Industry 4.0” was coined in 2011 and uses smart systems and the Internet of Things to create factories that are almost self-thinking. This leads to increased customization and improved supply chain management. Industry 4.0 has seen the rise of smart factories.
Further, Industry 5.0 is the next stage of development in manufacturing, where machines become smart enough to perform complex functions intelligently, all by themselves. These will leverage advanced technologies and computing capabilities to collaborate with humans, giving pace and accuracy. Industry 5.0 thrives to find the right balance between robotization and humans, blending the power of smart, precise, accurate machinery with human creativity and ingenuity.
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