A Brief History of the Industrial Revolution and Its Impact on Modern Business

From 1765, at the onset of the first Industrial Revolution, to the present day, we’ve seen an amazing evolution. As we discovered different energy sources — and later, digital technologies — the entire landscape of the modern world has been transformed over and over. 

We’ll take you through the Industrial Revolution timeline and show you how each phase has affected the world. Then we’ll dig into the vital and life-changing impact of the modern Industrial Revolution on business, government, and society as a whole.

The Stages of the Industrial Revolution

The four Industrial Revolutions are: 

• Coal 
• Gas
• Electronics and nuclear
• The internet and renewable energy

Here’s an overview of each period and how they changed the world. 

First Industrial Revolution: Coal in 1765

The original Industrial Revolution transformed our economy from agriculture to industry. Processes became mechanized and products were mass-produced in a factory system for the first time. 

During this period, the discovery of coal and its mass extraction — as well as the development of the steam engine and metal forging — completely changed the way goods were produced and exchanged. 

Inventions such as spinning machines and looms to create fabric were making their appearance. There was an increased demand for raw materials, which led to growth in international trade.

Canal transportation began replacing wagons and mules for moving around these goods, and improved road systems made national transportation more efficient. The expansion of railroads and steamships also reduced travel times and costs for both goods and people.

Second Industrial Revolution: Gas in 1870

While the first Industrial Revolution was driven by coal, the second revolved around the discovery of electricity, gas, and oil. The invention of the combustion engine went hand-in-hand with these fuel sources. 

Both steel- and chemical-based products entered the market during this time. Developments in communication technology got a jump start with the telegraph and later the telephone. 

Transportation grew by leaps and bounds with the invention of the plane and car. Mechanical production grew in speed through the advent of mass production. And the widespread installation of electric power grids allowed for more efficient urban lighting and industrial operations.

Third Industrial Revolution: Electronics and Nuclear in 1969

After another hundred years, nuclear energy and electronics entered the landscape for the third Industrial Revolution. Nuclear power began in Europe, grew in both Great Britain and the United States, went into remission for years, and then grew in Asia.

The widespread use of robots and automated machinery in manufacturing, especially in industries like automotive and electronics, led to increased productivity and precision. The advent of personal computers, microprocessors, and integrated circuits, began to change not only the way people did business but also how they managed their personal lives.

Fourth Industrial Revolution: Internet and Renewable Energy in 2000

As we continue moving through the fourth Industrial Revolution — also called Industry 4.0 or 4IR — we see a shift to renewable energy such as solar, wind, and geothermal. However, this movement's momentum comes not so much from the energy shift but rather from the acceleration of digital technology. 

The internet and the digital world mean a real-time connection within more and more components of a production line, both inside and outside facility walls. As the development of the Industrial Internet of Things, cloud technology, and artificial intelligence continues, a virtual world will merge with the physical world. Predictive maintenance and real-time data will lead to smarter business decisions and work order solutions for myriad worldwide companies.

How the Fourth Industrial Revolution Is Affecting the Modern World

We are in the midst of a technological revolution that continues to drastically reshape how we live, work, and interact with each other. The scale, scope, and complexity of these changes will surpass anything humanity has encountered before. 

Let’s take a look at how the modern Industrial Revolution is shaping business, government, and society as a whole.

Impact on Business

The ever-faster acceleration of innovation can disrupt processes in all businesses, even those run by the most connected and well-informed executives. Management must do everything they can to keep up while making sure they’re also doing what’s best for the company.

Major shifts are occurring on both supply and demand sides as new technologies are introduced. New patterns of consumer behavior force companies to adapt the way they design, market, and deliver services and products.

New technology platforms — which nearly everyone has access to with the invention of the smartphone — bring people, assets, and data together. This creates an entirely new way of consuming goods and services and makes it easier for both businesses and individuals to create wealth. 

Impact on Government

As physical and digital realms continue to merge, new technologies and platforms will give citizens greater opportunities to interact with governments and express their views. At the same time, governments will face growing pressure to adapt their approach to public engagement and policymaking as their traditional role diminishes due to new sources of competition and the redistribution and decentralization of power facilitated by these advancing technologies.

Regulators must learn to continuously adapt to new environments and reinvent themselves and their systems. To do this, governments should closely collaborate with both businesses and civilians.

Impact on Society

The fourth Industrial Revolution will continue to shape society by affecting people’s:

• Sense of privacy
• Consumption patterns
• Time spent working vs. leisure time
• Ideas of ownership
• Career and relationship development
• And more

The speed at which the world is changing can be both scary and exciting. Current revolutions in AI and biotechnology may compel us to redefine our moral and ethical boundaries as a civilization.

Navigate the Next Industrial Revolution With UpKeep

Things are changing faster than ever, and sometimes industry and society struggle to keep up. Having access to modern tools that can help you take advantage of the cutting edge of modern technology to help manage and grow your business will take you further than you ever thought possible.

UpKeep is a CMMS solution that gives every Maintenance and Reliability team the tools and information they need to run Operations efficiently and effectively. Our mobile-first, easy-to-use tool will help you and your team take care of:

• Work order management
• Preventive maintenance
• Asset management
• Parts and inventory
• Analytics
• And more

Contact UpKeep today to start a free trial and learn how our technology will take you through the fourth Industrial Revolution and beyond.