Explanation:

- Option 1: James Beaumont Neilson is correct. He invented the hot blast, which significantly improved the efficiency of iron production during the Industrial Revolution by preheating the air blown into a blast furnace.

- Option 2: James Watt is known for his improvements to the steam engine but did not invent the hot blast.

- Option 3: Eric Hobsbawm was a historian, not an inventor, and is known for his work on the history of the Industrial Revolution.

- Option 4: Lewis Paul was an inventor associated with the textile industry, specifically with developments in spinning.