Technology is driving third industrial revolution

TECHNOLOGICAL advances revolutionising the manufacturing industry are driving the biggest changes to the global economy, a Barclays seminar heard.

Barclays Industrial Revolution seminar 1
L-R: Kevin Gardiner, chief investment officer Europe at Barclays, Ken Bradley from Barclays in Guernsey, Paul Markillie, innovation editor at The Economist

TECHNOLOGICAL advances revolutionising the manufacturing industry are driving the biggest changes to the global economy, a Barclays seminar heard.

Paul Markillie, innovation editor at The Economist magazine, said that new technology was enabling a ‘third industrial revolution’, particularly in additive manufacturing – 3D printing as it is popularly known.

‘Advances in technology are reducing the manufacturing industry’s reliance on economies of scale and unit labour costs,’ he said.

‘Where previously large-scale operations were needed to make manufacturing work financially, new processes mean that businesses can be more nimble – creating prototypes quickly and cheaply.

‘As well as the craft and design market, big players such as Rolls-Royce and McLaren are making use of 3D printing in the latest generation of jet engines and performance sports cars.’

Mr Markillie said that the world was becoming a place where anyone with a laptop and an internet connection could become a manufacturer.

‘It’s an exciting time for innovation. 3D printers have been a key factor in the “maker” movement, which has energy much like the early days of Macintosh computers.

‘This is where we should be looking for the next world-changing product innovation.’

Comments for: "Technology is driving third industrial revolution"

PB FALLA

Do we really need these people to tell us this ?

Joshua

Is it some sort of inside joke within news sites doing articles on 3D printing? Really? It's not new, they're honestly not very good "I built a relatively high end one from scratch a year back, it's still very limited and far from useful and very expensive to run" Sure the industrial ones have a good use, but then again CNC milling machines are far more useful, I think "3D Printer" just sounds very futuristic, and is good for a slow news day.

But honestly, everyone and their dog knows about 3D printers nowadays, it's soooo 2011.

Joshua

In addition, this tend for 3D printing articles wouldn't be complete till thisisguernsey.com do an article following up on the evil dangers of 3D printing, you can print a gun ya-kno!!!! All be it one not as useful as £5 DIY store zip gun, or am I just jumping the gun on this assumption? groan.

Beanjar

I agree that this '3D printer gun' stuff is nonsense trotted out on quiet news days. You CAN make an effective weapon using a 3D printed gun, a length of pipe and a live bullet. But its a lot easier to make one using just the pipe and bullet! Come to that, there is more chance of killing somebody with a hammer, a brick or a car. Tedious twaddle.