The Fourth Industrial Revolution is characterised by the extensive use of the
internet and the computerisation & roboticisation of all spheres of the economy.
Its symbols today are smartphones and electric cars, but in the near future
we will witness the creation and use of smart cities, smart electrical grids and
smart factories. Today’s industry is changing at an unprecedented rate. The
earlier industrial revolutions, i.e. periods of fundamental changes in the modes
of production and communication, proceeded at a much slower pace than those
we are observing today. The first industrial revolution utilised coal and steam
to mechanise production and transport. The second disseminated the means of
mass production by the use of electricity and the internal combustion engine.
The third, digital revolution, which began in the middle of the last century,
automated industrial production and globalised communication. The German
economy, which reached a very high level of sophistication in the industries of
the first and second industrial revolutions – in heavy industry, electronics and
the automotive branch – did not benefit so greatly from the digital revolution
