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Economy - UPSC 2019 > Fourth Industrial Revolution > Flashcards

Fourth Industrial Revolution Flashcards

1
Q

Who launched Center for Fourth industrial Revolution in India ?

A

World Economic Forum

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2
Q

Which state will the center be based in ?

A

Maharashtra

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3
Q

What are the first 3 projects ?

A
  1. Drones
  2. Artificial Intelligence
  3. Blockchain
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4
Q

Who will coordinate the partnership on behalf of
the government and the work of the centre among
multiple ministries ?

A

NIT Aayog

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5
Q

Who coined the phrase Fourth Industrial Revolution in 2016 ?

A

Klaus Schwab

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6
Q

What are the technologies of Fourth Industrial Revolution ?

A 
IoT,
AI, 
Blockchain, 
Robotics 
Additive manufacturing,
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7
Q

What are some of the impacts of Fourth Industrial Revolution ?

A
  1. Economic Opputunities
  2. Smarter Organisation
  3. Reduce Costs
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8
Q

What is a potential negative effect of Fourth Industrial Revolution ?

A

Unemployment due to automation

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9
Q

What is the capitalization effect ?

A

Demand for new goods and services increases and leads to the creation of new occupations, businesses and even industries.

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10
Q

What was the main feature of the First Industrial Revolution ?

A

Mechanisation
Steam
Weaving Loom

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11
Q

What was the main feature of the Second Industrial Revolution ?

A

Mass Production

Assembly Line

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12
Q

What was the main feature of Third Industrial Revolution ?

A

Computers and Electronics

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13
Q

What is the main feature of Fourth Industrial Revolution ?

A

Cyber systems
IOT
AI

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14
Q

What will be the median age in Indian in 2020 ?

A

28

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15
Q

What are the 5 drivers of change in this Industrial Revolution ?

A
  1. Changing work environment
  2. Rise of middle class
  3. Natural Resource Constraint
  4. Rising geopolitical volatility
  5. Consumer concerns about ethical issues
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16
Q

What are the main sectors this can help India in ?

A

Telecommunication sector because of massive data usage and availability

17
Q

What will be a challenge faced by MSMEs ?

A

Short product cycles, leading to unpredictability

18
Q

What are some of the other challenges caused by the Fourth Industrial Revolution ?

A

Income Gap
Infrastructural Problem
Low Skill Youth

19
Q

What should companies and businesses invest in to take advantage of Fourth Industrial Revolution ?

A

Technical infrastructure and data analysing capabilities.

20
Q

What should education be focused on ?

A

Critical thinking

21
Q

What is a problem faced by India inspite of it’s young population ?

A

Low Skill Youth

22
Q

What are the things India should focus on imparting training to in it’s youth ?

A

Vocational Skill

New Digital Industrial Skills,

Economy - UPSC 2019 (33 decks)

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