The rate at which technology is developing today is frightening. As someone put it, we are developing in dog years as opposed to human years. This prompts the question: Is the ongoing digital revolution the pinnacle of economic development?
Let’s take a look back in time
As we are today, the digital (technology) revolution is changing the way we live, work, and the environment. Whether looking at this from a personal or business angle, the changes in recent years have been immense. However, if we look back over the centuries, there have been other revolutions, which many would argue were more ground-breaking and more important.
Agricultural Revolution (10,000 BCE to 2000 BCE)
The move from nomadic hunter-gatherer societies to settled agricultural communities led to the formation of villages, cities, and more complex societies. Specific innovations included the development of farming tools and basic irrigation techniques, as well as the domestication of animals.
Industrial Revolution (1760 to 1840)
Many see this as the most "important" revolution: the change from production by hand to production using machines and chemicals. We also saw the introduction of steam power, which increased productivity and led to significant economic growth worldwide.
Second Industrial Revolution (1870 to 1914)
This was another critical era of development, bringing in the telephone, lightbulb, and internal combustion engine. Described by some as a "technological revolution", there were also significant advancements in the production of steel, the creation of electrical power, and chemical synthesis.
Digital Revolution (1950s to the current day)
The switch from analogue to digital was the key to the digital revolution, which also saw the invention of the transistor and the microprocessor, and the beginning of the personal computing and Internet revolution. While much of the focus was on information processing and access to information, for many, it was improvements in communication technology that created today’s digital global economy.
Information Revolution (late 20th century to the current day)
In tandem with the digital revolution, the information revolution is best described in one phrase, "big data", with vast volumes of data being processed and deep-diving reports changing how we look at business. This also increased the popularity of the Internet, which brought in social media and a new tradeable commodity: information.
Green Revolution (1940s to 1960s)
Some argue that the Green Revolution continues today, but if we look back to the 1940s, 50s, and 60s, the developments in agriculture were literally ground-breaking. Research, development, and technology transfer initiatives saw considerable increases in yields, the use of chemical fertilisers, and even more enhanced irrigation techniques. While hunger and famine are still a huge issue, the Green Revolution did make a difference, although it also encouraged population growth – uncontrolled in some areas.
Biotechnology Revolution (1970s to the current day)
Biotechnology has developed immensely, from genetics to molecular biology and the development of treatments and vaccines that have literally saved millions of lives. Using the latest cutting-edge technology and big data processing, biotechnology companies are now able to step into a virtual world where they can literally slot together vaccines and treatments.
Energy Revolution (21st century)
Often referred to as the green revolution, the transition from fossil fuels to renewable energy sources such as solar, wind, and bioenergy is ongoing. Unfortunately, these plans will likely take longer than initially thought to come to fruition due to a mixture of finance, pushback from individuals and businesses, and a degree of secrecy and uncertainty. Seen by many as an eventual solution to climate change, funding for the energy revolution is extremely strong at the moment.
Summary
In the current modern-day technology revolution, it is easy to assume that what we see today is more ground-breaking than anything before. However, the degree of change over the centuries is quite frankly unbelievable. What we take for granted today, such as enhanced irrigation methods, were not only game changers but life changers for people in the day. What will follow the ongoing energy, technology and biotech revolutions?