It’s no secret that since the millennium our lives have changed drastically. So much so that we’re currently living it what’s called the Fourth Industrial Revolution. 

The Third Industrial Revolution, also known as the Digital Revolution, began in the late 1900s and saw the emergence of automation and digitisation thanks to electronic devices and widespread computer use, the Fourth Industrial Revolution is the era that truly embedded connectivity into every aspect of our lives.

With advancing technology, widespread internet usage, and the advent of smart technology, the way we live, and work will never be the same. 

Communication

New technologies have meant communicating with each other is faster and more effective than ever before. However, it comes at a price. Whilst fewer and fewer people are meeting face-to-face, more people than ever are communicating via smartphones. 

With over 60% of Australian adults now living without a house phone and solely using a mobile phone, it means that we’re staying connected 24/7. The emergence of social media is also affecting how young people communicate, with more and more increasingly turning to image-based platforms like Snapchat and Tiktok to communicate with like-minded people. 

Work-life

The Fourth Industrial Revolution, followed by a global pandemic has helped usher in a new digital way of working. As latest studies show that more than 40% of Australians work from home, this latest industrial revolution is allowing workers to find a more even balance of home and work life. Of course, it also means there’s a tendency for employees to put in extra (unpaid) hours. 

Home-life

AI and smart technology have had a profound impact on our home lives. From smart home heating technologies that enable us to run more energy-efficient homes to motion-sensor, voice-activated doorbells that increase home security, every aspect of our home lives has been altered by this new digital way of life. 

It’s not just smart tech that’s helping with our daily lives, it’s also keeping us entertained. Pre this latest revolution cable tv and Blockbuster were the only in-house entertainment systems we have access to. Now millions of households have on-demand tv and movie subscriptions. 

Finances

From online banking to contactless payments, thanks to fin-tech, more people than ever are able to take charge of their finances – at the touch of a button. Investing, CFD trading, and saving have never been easier. 

These easy-to-access financial tools have not only enabled individuals to feel savvier about their finances, but they’ve helped transform global economies.