Financial Support for Smart Manufacturing towards Industry 4.0 in the Context of Sustainable Development

Abstract

The transformational changes in the ecosystem over the past two decades have led to the technological leap that made all scientists talk about the Fourth Industrial Revolution. Against the background of the changes that the revolution personifies, the determining factor is the study of the issue of smart manufacturing as the main link in the revolution. The paradigm in the development of smart manufacturing is not only the development of such technologies as artificial intelligence, blockchain in manufacturing, the Industrial Internet of Things, robotics, cybersecurity, etc. but also the financial security of all its processes. Since smart manufacturing is a specific category of economic development, it also requires specific funding. The article investigates the terminological definition of Smart Manufacturing. The Smart Manufacturing market was studied, and a forecast for the coming years was made. At the beginning of 2019, the market was USD 204,95 billion and USD 422.88 billion by 2025. The work is substantiated, Smart Factory is a mechanism workshop for Smart Manufacturing. Although, in our opinion, Smart Factory is the environment for the formation of technologies, that improve the work of manufacturing mechanisms. The importance of becoming Industry 4.0 based on the principles of sustainable development is determined. Since human activity has led to the destruction of the ecosystem. The budgets of the world's leading countries for the development of Smart Manufacturing have been studied. Тhe leader is Germany. It is planned to spend USD 200 million of public funding and USD 300 million of private one (business investment). The authors noted the importance of implementing responsible investing. The investment climate of Ukraine has been studied. In 2019, Ukraine is ranked 64th in the Doing Business ranking, 85th in the Global Competitiveness Index, 47th in the Global Innovation Index and 126th in the Transparency International ranking. The lack of implementation of almost all principles of Smart Manufacturing is noted.