The First Industrial Revolution used water and steam power to mechanize production. The Second used electric power to create mass production. The Third used electronics and information technology to automate production. – Klaus Schwab
The trends that are shaping the twenty-first-century world embody both promise and peril. Globalization, for example, has lifted hundreds of millions of people out of poverty while contributing to social fragmentation and a massive increase in inequality, not to mention serious environmental damage. – Klaus Schwab
In Switzerland, we have a centuries-old tradition of living together in one confederation and one society. That holds us back from excesses. We are a civilized and enlightened community and, by practising multicultural tolerance, we manage to stop extreme developments from going too far. – Klaus Schwab
Profitability, growth, and safeguards against existential risks are crucial to strengthening a company’s long-term prospects. But if these three factors constitute a company’s ‘hard power,’ firms also need ‘soft power’: public trust and acceptance, won by fulfilling a company’s social responsibility. – Klaus Schwab
A winner-takes-all economy that offers only limited access to the middle class is a recipe for democratic malaise and dereliction. – Klaus Schwab
As the physical, digital, and biological worlds continue to converge, new technologies and platforms will increasingly enable citizens to engage with governments, voice their opinions, coordinate their efforts, and even circumvent the supervision of public authorities. – Klaus Schwab
Corporate social responsibility is measured in terms of businesses improving conditions for their employees, shareholders, communities, and environment. But moral responsibility goes further, reflecting the need for corporations to address fundamental ethical issues such as inclusion, dignity, and equality. – Klaus Schwab
We often hear people talk about the concept of ‘uberization,’ where a new technology completely turns an industry on its head and forces us to rethink the way things have always been done. No industry will remain untouched by these forces. – Klaus Schwab
We must address, individually and collectively, moral and ethical issues raised by cutting-edge research in artificial intelligence and biotechnology, which will enable significant life extension, designer babies, and memory extraction. – Klaus Schwab
New technologies and approaches are merging the physical, digital, and biological worlds in ways that will fundamentally transform humankind. The extent to which that transformation is positive will depend on how we navigate the risks and opportunities that arise along the way. – Klaus Schwab
For all the opportunities that arise from the Fourth Industrial Revolution – and there are many – it does not come without risks. Perhaps one of the greatest is that the changes will exacerbate inequalities. And as we all know, a more unequal world is a less stable one. – Klaus Schwab
Change can be frightening, and the temptation is often to resist it. But change almost always provides opportunities – to learn new things, to rethink tired processes, and to improve the way we work. – Klaus Schwab
One new reality is global interconnectivity and the fact that all challenges must be addressed on the basis of ‘togetherness.’ Thus the most crucial factor in accepting the new reality and confronting its opportunities and risks is our willingness to develop shared norms on all levels. – Klaus Schwab
Of course, technology is not an exogenous force over which humans have no control. We are not constrained by a binary choice between acceptance and rejection. Rather, the decisions we make every day as citizens, consumers, and investors guide technological progress. – Klaus Schwab
Receiving an economic boost from the digital era is not a luxury – it is essential to ensuring that Europe continues to grow and deliver levels of prosperity that meet the rising expectations of its citizens. – Klaus Schwab
I am a great enthusiast and early adopter of technology, but sometimes I wonder whether the inexorable integration of technology in our lives could diminish some of our quintessential human capacities, such as compassion and cooperation. – Klaus Schwab
As the novelty of wearable tech gives way to necessity – and, later, as wearable tech becomes embedded tech – will we be deprived of the chance to pause, reflect, and engage in meaningful, substantive conversations? How will our inner lives and ties to those around us change? – Klaus Schwab
I believe that, if managed well, the Fourth Industrial Revolution can bring a new cultural renaissance, which will make us feel part of something much larger than ourselves: a true global civilization. I believe the changes that will sweep through society can provide a more inclusive, sustainable and harmonious society. But it will not come easily. – Klaus Schwab
Business cycles naturally entail peaks and troughs in employment, and socially responsible businesses should follow successful examples like Coca-Cola, Alcoa, Saudi Aramco, Africa Rainbow Minerals, and Google in working toward mitigating joblessness and enhancing people’s abilities to earn a livelihood. – Klaus Schwab
I am an enthusiastic European, and my first-hand experience of war and hatred has strengthened that conviction. I have seen how misguided unilateral nationalistic identities have brought destruction and death. I am, however, a world citizen, too. – Klaus Schwab
New technologies, however remarkable they might seem, are fundamentally just tools made by people for people. – Klaus Schwab
Technological change is never an isolated phenomenon. This revolution takes place inside a complex ecosystem which comprises business, governmental and societal dimensions. To make a country fit for the new type of innovation-driven competition, the whole ecosystem has to be considered. – Klaus Schwab
As technology increasingly takes over knowledge-based work, the cognitive skills that are central to today’s education systems will remain important; but behavioral and non-cognitive skills necessary for collaboration, innovation, and problem solving will become essential as well. – Klaus Schwab
The concept of corporate social responsibility (CSR) has long been used as an effective lens through which to examine the actions business can take toward ensuring mutual long-term well-being and sustainability. – Klaus Schwab
I do not deny my German identity. But I also feel Swiss. Of my eight great-grandparents, seven were born Swiss. I have been living in Switzerland for more than 50 years. – Klaus Schwab
