Abstract: A brief historical review of technological revolutions and inventive innovations in the industrial science is given, leading to the realization that the inventions and developments of sream engines, internal combustion engines and electric motors and generators in a period of decades spanning the eighteenth and nineteenth centuries truly constituted the past industrial revolution and that the current development of micro-computer controlled modern robots may be anticipated to give rise to a future industiral revolution in the tirst few decades of the coming century. Special emphasis is laid on the indispensable role played by basic experimental and theoretical scientific research which has led to epoch-making inventions and discoveries. It is pointed out and illustrated that recent history of industiral science has shown that adequate system of organizational structure and proper selection of scientific and administrative per-sonel will make possible spectacular progress exceeding records of predecessors. Finally, rudimentary remarks are made regarding our understanding and synthesis of the rapidly evolving controversies in technological knowledge.