World Economic Forum Annual Meeting 2016 has launched its activities in Davos Swiss located resort, with over 40 participating Presidents and Prime Ministers from across the globe, alongside hundreds of international prominent figures.

The forum headlined its activities as the “Fourth Industrial Revolution”, after the extraordinary digital development the world experienced over the past decade.

The German elected title, the “Fourth Industrial Revolution”, includes artificial intelligence; the increase of working machine rates in factories and vehicles, robotic dependence, in addition to barrier breaking developments between humans and technology.

On the forum’s launch evening, Executive Chairman Klaus Schwab told reporters that the world is not yet sufficiently prepared for the overwhelming Fourth Industrial Revolution. Schwab also mentioned development transformations will result in products and transport methods signified with lower costs and higher competence.

The forum, over the course of four days, will discuss several political, economic, and social global suits. Discussions will include world security, energy, and economic changes imposed by climate change in addition to digital manufactures and Europe migration challenges and world scale health issues.

Experts consider the First Industrial Revolution to have taken place during the 19th century that came with the discovery of steam engine. As for the Second Industrial Revolution also known as the “Technological Revolution”, the 20th century witnessed advancements in manufacturing and producing technology that enables the widespread adoption of preexisting technological systems such as telegraph and railroad networks, gas and water supply, in addition to sewage systems, that had been concentrated earlier in few select cities. The Second Industrial Revolution was also marked with early factory electrification and line production.

The Third Industrial Revolution was defined by the witnessed digital revolution across the world in view of internet and digital technology at the start of the 21st century.