Read the following passage and mark the letter A, B, C, or D to indicate the answer to each of the question. The first Industrial Revolution was about harnessing steam power so that muscle could be replaced by machines. The second was driven by electricity and a cluster of inventions from the late 19th century onwards - including the internal combustion engine, the aeroplane and moving pictures. A third revolution began in the 1960s and was based on digital technology, personal computing and the ...

Read the following passage and mark the letter A, B, C, or D to indicate the answer to each of the question.

The first Industrial Revolution was about harnessing steam power so that muscle could be replaced by machines. The second was driven by electricity and a cluster of inventions from the late 19th century onwards - including the internal combustion engine, the aeroplane and moving pictures. A third revolution began in the 1960s and was based on digital technology, personal computing and the development of the internet. Industrial Revolution 4.0 will be shaped by a fresh wave of innovation in areas such as driverless cars, smart robotics, materials that are lighter and tougher, and a manufacturing process built around 3D printing.

There are some myths about Industrial Revolution 4.0. The first is that it won't really have as big an impact as the previous periods of change, most especially the breakthroughs associated with the second industrial revolution. In the past, it has always taken time to feel the full effects of technological change and many of today's advances are in their infancy. It is far too early to say that the car or air travel will prove to be less important than the sequencing of the human genome or synthetic biology. The second myth is that the process will be trouble free provided everything is left to the market. It is a fantasy to believe that the wealth created by the fourth Industrial Revolution will cascade down from rich to poor, and that those displaced will just walk into another job that pays just as well.

Indeed, all the evidence so far is that the benefits of the coming change will be concentrated among a relatively small elite, thus exacerbating the current trend towards greater levels of inequality. This was a point stressed by the Swiss bank UBS in a report launched in Davos. It notes that there will be a "polarisation of the labour force as low-skill jobs continue to be automated and this trend increasingly spreads to middle class jobs."

The word "it" in paragraph 2 refers to ___________?