Switzerland -Davos: How the Fourth Industrial Revolution can help us prepare for the next natural disaster - Scott L David

In the wake of recent devastating hurricanes, floods, wildfires and earthquakes in North America, the Caribbean, Latin America and South Asia, preparing for natural disasters has never been more urgent. Some estimates suggest flooding damage to coastal cities will cost around US$1 trillion per year by 2050. The cost of naturally-caused forest fires - which exceeded $2billion this year and set a new US record - continues to rise.

The human suffering from these emergencies is beyond calculation. Threats to people and property from acts of nature can’t be prevented. Yet, the second-order vulnerabilities they create can be significantly reduced.

The “fog of indecision,” is one such vulnerability that results from institutional hesitancy to collaborate and share data in emergency settings. It’s something that can’t continue. Inaction will only contribute to avoidable suffering.

The technologies and systems of the Fourth Industrial Revolution offer very powerful assets for responding to natural disasters. With nearly 6 billion mobile phone users worldwide, connected individuals have proven to be one of the most effective and efficient ways of strengthening resilience when disaster strikes.

Likewise, social media, drones, satellite imagery and predictive analytics have all been tremendously helpful for coordinating responses and accelerating the recovery of individuals and communities in the aftermath of recent natural disasters.

Read more: How the Fourth Industrial Revolution can help us prepare for the next natural disaster | World Economic Forum