We are now experiencing the Fourth Industrial Revolution (4IR), a period of rapid change driven by progress in science and technology. The main drivers of 4IR are AI, big data and the Internet of Things (IoT). Japan will play a leading role in global innovation with a new World Economic Forum (WEF) center devoted to maximizing the potential of the 4IR, says Klaus Schwab, WEF founder and executive chairman.
“Japan is not sufficiently recognized for its innovative capabilities,” Schwab said in a recent interview with Forbes Japan. “The world is speaking about what’s happening in Silicon Valley and Shenzhen, but it is not aware that Japan has created a very successful startup community.”
Schwab believes Japan can play a unique role in 4IR for several reasons. For one, the challenges posed by Japan’s aging population mean it’s ahead of the demographic change that will affect many developed countries. Also, the long-term vision of Prime Minister Shinzo Abe and his government, the close ties between Japan’s public and private spheres, and the low unemployment rate put the country in an advantageous position to implement the far-reaching social changes of 4IR.