From the industrial era to the technological era, changes and the innovation cycle (infographic) / The world of digital information
The ages of the world have often witnessed the capabilities of man. The rise of the human race that began in Britain in 1785, also known as the industrial age, gave rise to a different socio-economic perspective of labor where capital which included power tools began to show his hold on traditional manual labor. This period of approximately 100 years encapsulated developments beyond what was considered customary at the time. This rise was marked by the first cotton mill established in Britain and the world has since fallen into its first cycle of technological innovation.
The first cycle which covers a period of 60 years included major developments in the textile sector as well as upgrades in terms of power and diesel. This first cycle and the rest of the 5 Great Innovation Cycles are supported by Joseph Schumpeter’s Theory of Creative Destruction. Unlike the name which suggests a stage in chaos, Joseph’s work revolved around the economic practices and cycles that were present to him in 1942 when this theory was created.
Joseph pointed out that as market structures changed or there were significant developments in the industry, he would emerge from a wave of innovation to enter the second wave of innovation. These waves are subject to a change so great that it disrupts the market and after the first change of the industrial age in 1785 the second happened in 1845 with the advent of the railways at the forefront of the changing cycle. not only demographics around the world, but introduced a mode of transportation that would always be relevant with updates in today’s era.
Since 1900, the third wave took place between 50 years in 1900 which was marked by the introduction of electricity to power homes, as well as internal combustion engines which revolutionized trains and introduced vehicles to engine to the public with the help of the assembly line introduced by Henry Ford. After that, the fourth wave was to approach earlier in the 40s from 1950, with the launch of the aircraft industry, followed by growth in electronics and computer machines which introduced the Commodore 64 among so many. ‘other. This era also marked an upgrade in the auto industry, as there was a movement from charcoal-based engines to petrochemical-based engines.
The most recent wave, marked as the fifth wave of innovation spanned 30 years, billing itself as the fastest and largest wave with the advent of mobile phones and huge turnover in terms of light years that are realized in technology marked this time as the fastest. However, the next and 6th cycle has started and is on the right track with artificial intelligence, clean tech and robotics paving the way for the fastest wave with the seventh wave expected to hit in 2045. We are excited to see what awaits us in the seventh wave. Take a look at the infographic below from VC, for more information.
Read more: Apple, Google, Amazon: these are the most innovative companies over time