The First Industrial Revolution used water and steam power to mechanize production. The Second used electric power to create mass production. The Third used electronics and information technology to automate production.
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About Klaus Schwab
Klaus Schwab was a contemporary founder of the world economic forum. Klaus Martin Schwab is a German mechanical engineer, economist, and founder of the World Economic Forum (WEF). He served as the WEF's chairman from 1971 until his resignation in 2025. Read more on Wikipedia →