Can the 4th Industrial Revolution be a Solution to the Challenges of Social Aging?
This paper explores whether the fourth industrial revolution – robotization, automation, digitalization, and the Internet of Things – may mitigate the social, economic, and labor impacts of an aging society.The increasing role of advanced technologies in economic and social life has fueled concerns about the risks of such technologies to human labor, social relations, and human dignity. These risks seem particularly tangible in advanced societies which face a shortage of skilled labor and increasing demand for social and care services. By reviewing a variety of business practices in several developed economies, this research seeks to build a case in favor of the use of advanced technologies in aging societies. Taking into account the scale of population aging and the limited effectiveness of social and fiscal reforms in favor of a demographic change, the fourth industrial revolution appears to be a useful tool to tackle social aging. Without dismissing the ethical, social, and other concerns related to the use of advanced technologies, the research shows a wide range of successful solutions and symbiotic collaboration between humans and advanced technologies in socially aging contexts.
