Opportunities and challenges are rapidly evolving within the Information and Entertainment System, for both industry and society, due to the Fourth Industrial Revolution (4IR). New technologies will revolutionize the flow of information and content, each with its own unique impact, but there is still much to better understand in this space. The creative economy is a main artery for this flow and thus most susceptible to disruptive forces from technologies such as virtual reality (VR), augmented reality (AR), artificial intelligence (AI), and the blockchain. Not all technologies will have equal impact on the creative economy and within the same timeframe - There is likely one that will have the most disruptive effect, for good and for bad, and sooner than others. The more that the creative economy, including society and government, can understand about coming disruption, the better it can prepare. The project will assess and attempt to measure the impact of each of these technologies on the creative economy. Various lenses will be used in this assessment, such as timescale, business models, the value chain structure, ecosystem players (new vs. existing entries), inputs and outputs to the economy, impact on education, and finally and perhaps most importantly, impact on society. In assessing each, the project will also recommend how collaborative approaches, involving multi-stakeholders, can be designed and put in place to either cushion negative implications, or foster positive ones.
By determining which 4IR technology will have the greatest impact on the creative economy, and by when, different stakeholders who make up this ecosystem will be able to better prepare. The project will propose solutions to absorb disruption through collaborative approaches and partnerships, unique to the Forum's extensive community. These can include public-private partnerships, inter-stakeholder group synergies, and national/regional specific collaborations.
This project is part of the World Economic Forum’s Shaping the Future of Information and Entertainment system initiative.