Klaus Schwab is a German engineer and economist best known as the founder and executive chairman of the World Economic Forum (WEF), an organization that brings together business, political, and academic leaders to discuss global issues. He established the WEF in 1971, aiming to improve the state of the world through collaboration and dialogue. Schwab is also known for his advocacy of the Fourth Industrial Revolution, a term he coined to describe the ongoing technological transformation that integrates digital, physical, and biological systems. His work emphasizes the importance of adapting to these changes for sustainable development and social equity.