NARENDRA JADHAV

New—Age Technology and Industrial Revolution by

 Dr.Narendra Jadhav ; Published by Konark

Publishers ; Page 267 ; Price Rs.695/-

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Dr.Narendra Jadhav, who was member of the National Advisory Council (NAC) and the Planning Commission in the UPA II, has authored more than 21 books on B.R. Ambedkar. His autobiographical work - "Aamcha Baap Aan Amhi", in Marathi, is the largest selling book in the history of Marathi literature and has been translated into several Indian languages, as well as foreign. He is a renowned scholar and acclaimed economist who has annexed several awards,national and international, including the prestigious title of the Commander of the Order of Academic Palmes by the French Government.

The book under review discusses the emerging new-age technology underlying the industrial revolution 4.0 and reveals threats springing therefrom and also attempts to identify and analyse relevant public policy issues in the global context.

From the beginnings of history, technology has been the prime mover in shaping the evolution of human society. Social evolution of mankind from the savage state to barbarism and later to civilisation can be caught and comprehended on the basis of technological milestones that were laid from the discovery of fire and its aftermath.

Anthropologists discerned five stages of man’s development---using energy from man’s own muscles; energy of domesticated animals; energy of plants—agriculture ;energy of natural resource such as coal, oil and gas and finally nuclear energy.

As all of us know there are four stages of the industrial revolution which led to formation of urban industrial societies. First one, revolution spurred by steam power leading to iron and textile industries ; second Industrial revolution emerged when steam was replaced by water and electricity resulting in new industries like steel, oil and electricity and new products like light bulbs, telephone, phonographs. Information technology was the outcome of the third industrial revolution. This is characterised by the advent of the personal computer, the Internet leading to digital technology. Industrial revolution 4.0 is under way and its underlying base is breakthrough in communication and connectivity. This includes robotics, artificial intelligence, machine learning, big data, etc. The technology emerging today is called post-digital revolution—fusion technology.The impact of AI and Machine learning was felt by a wide range of Artificial Intelligence applications from manufacturing to space exploration.The author has discussed in detail the limitations of AI. Similarly, adoption of Big Data and Data Analytics in government and the private sector, can promote cost - efficiency, productivity and innovation.

At the core of the new-age technology is “Cloud Computing” which is a vast network of distributed data centres, providing for processing of data at unprecedented scale and speed.

The following advantages are guaranteed.

1.Sharp increase in labour productivity, wealth generation and economic growth.

2.Drastic reduction of poverty.

3.Technological breakthrough in several sectors.

4.Combating successfully global warming and climate change.

5.More Digital Assistants like Alexa and Siri.

6.Possibilities of new—age Habitat outside our Earth—the Moon or another planet.

Rightly the author warns us not to overlook the negative prospects---

a.Massive displacement of jobs.

b.Economic disparities could magnify.

c.Jeopardy to individual or business security.

d.Likely Cyber warfare, attacking critical infrastructure spatially.

e. Possibility of Machines taking over.

The New-Age technology provides opportunities to product innovations, cutting-edge agricultural practices, and market developments. Innovations in crop genetics, organic agriculture as well as irrigation and other infrastructure can bring about productivity improvements among small farmers.

In order to make the potential benefits from technological advancements more inclusive across countries, it is imperative to close the digital divide among the nation-states. Challenges in various sectors such as infrastructure, energy, water, waste management, transportation, real estate, and urban planning could be overcome.

With the emergence of the New-Age Technology, there are concerns regarding job displacement or joblessness and the need to re-skill professionals who are at the receiving end. The only silver lining in all this is, “when physical jobs are lost due to automation, jobs for the mind open up”.

The book also highlights how conventional view of banking is rapidly changing. Increasingly, the traditional business model of banks and insurance companies is being challenged by the so-called ‘FinTechs’ and ‘TechFins’ which include a wide range of financial service providers and start-ups.

The other important issues which are dealt in the book include E-commerce and how Information Technology over the last decade or so has completely transformed the way people generally do their shopping. The important aspect of individual privacy, and the manner in which the social media has been influencing societies, economies, people’s attitudes, behaviours, cultures, and even their world-view also has been discussed in the book.

The book pleads for a global consensus on ethical principles and values to govern development and use of revolutionary technology.The author writes--- "There has to be international cooperation, and in a cooperative spirit we will have to optimise and get the maximum of positive outcomes, while minimising the risk of adverse things. This cannot be done by one country, it has to be done collectively by all countries, in a multilateral framework."

Part One of the book is a primer of new-age technology and its constituents.A I is seen as a fundamental threat to the very existence of humanity. On the other hand,we have a scenario where AI and humans achieve symbiosis and collectively work towards a better future.One chapter analyses A I. It has tremendous implications for manufacturing, and space exploration.

Jadhav explains cogently “Big Data”and the impact of “global digitalisation”.He explains Robotics, Blockchain Technology,Automated Technology, Additive Manufacturing Technology and 3D Printing.

The Internet of Things is all about the power of Internet being extended beyond just computers and smartphones to a whole range of processes and external environment.

Part Two is on the potential implications of New-Age Technology. It discusses the positive side of technology-led economic growth,joblessness and future of jobs.

Jadhav discusses the downsides of technology, especially in terms of its adverse impact on socio-economic inequalities—its bearing on democratic governance and social implications of upheavals in the job eco system on banking and finance. The fastest growing financial services are coming not from banks but from the FinTechs TechFins, and the emerging bank start-ups. Bank 4.0 and Finance 4.0 are the rising stars.Implications of these are analysed in one chapter.

Part Three discusses global public issues. There is a thorough analysis of Right to Privacy, Social Media and Democratic Governance, Cyber Security, Surveillance Issues, Threats to National Security and Global Peace and Regulation and Strategic Development.

Part Four is a case study of the Indian experience with new-age technology. A snapshot is provided of the prevailing development of the new-age technology. This is followed by a discussion on the policy issues.

Jadhav exudes optimism and concludes new-age technology will become more pervasive in future.

This book will be of immense use to tech-savvy persons, policy makers, researchers and all interested in the technological advance of India.

The book will provide policymakers a much-needed road map to drive the nation’s digital growth in the coming years.

P.P.Ramachandran.

23/02/2020