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Technological innovation is on the brink of fuelling momentous change throughout the global economy, generating great benefits and challenges, in equal measure. So says the chairman of the World Economic Forum. He describes what he calls 'the fourth industrial revolution', which is based on three sets of megatrends: physical, digital and biological. To thrive in this environment, he argues that public-private research collaborations should increase, and that they should be structured towards building knowledge and human capital to the benefit of all.