The Fourth Industrial Revolution represents a fundamental change in the way we live, work, and relate to one another. It is a new chapter in human development, enabled by technology advances that are commensurate with those of the first, second and third industrial revolutions, and which are merging the physical, digital, and biological worlds in ways that create both promise and peril. The speed, breadth, and depth of this revolution is forcing us to rethink how countries should develop, how organizations create value, and even what it means to be human. Now, as the world grapples with COVID-19, there is an opportunity to further harness the power of the revolution in ways that create a more inclusive, human-centred global economy.

Entrepreneurship – Take a risk!

It is a fundamental driver of economic value and job creation, whether it manifests in the form of a new start-up or as a regenerating force within an established company – entrepreneurship is about acting under conditions of uncertainty, and in the absence of calculable risk. As they discover or exploit opportunities, and mobilize the resources necessary to act on them, entrepreneurs unleash the forces of creative destruction in ways that transform existing industries and create entirely new ones. Entrepreneurs can also serve as arbitragers, capable of bringing markets back into competitive equilibrium. 

This briefing is based on the views of a wide range of experts from the World Economic Forum’s Expert Network and is curated in partnership with Dr. Lien de Cuyper, Postdoctoral Researcher, Chair of Entrepreneurship at ETH Zurich.

Now, as the world grapples with COVID-19. there is an opportunity to further harness the power of the revolution in ways that create a more inclusive. human-centred global economy.