Abstract
The 4th Industrial Revolution is expected to lead to a paradigm shift in business, with strong effects on manufacturing and service processes, and consequent competitive advantages for firms, industries, and regional/national systems. Such effects will manifest in the disruption of traditional incumbents and the re-organization of production processes where information and communication technologies, artificial intelligence, and operational technologies enable smart, self-organizing distribution systems in factories
Highlights
The 4th Industrial Revolution is expected to lead to a paradigm shift in business, with strong effects on manufacturing and service processes, and consequent competitive advantages for firms, industries, and regional/national systems
Such effects will manifest in the disruption of traditional incumbents and the re-organization of production processes where information and communication technologies, artificial intelligence, and operational technologies enable smart, selforganizing distribution systems in factories
The 4th Industrial Revolution fundamentally disrupts the technologies characterizing the first three industrial revolutions: the first based on the mechanization of industrial plants and centred on the textile sector; the second linked to the assembly line and integrated mass
Summary
The 4th Industrial Revolution is expected to lead to a paradigm shift in business, with strong effects on manufacturing and service processes, and consequent competitive advantages for firms, industries, and regional/national systems. The joint effect of the two phenomena leads to issues including servitization; reshaping organizations, industries, markets and society; the role of innovative ecosystems; the emergence of new business models and business model innovation; challenges and opportunities for international competition (e.g., outsourcing, reshoring, increased global competition, sustainable manufacturing, etc.); updating the skills of the workforce, potential changes in the job market, unemployment, inequality; the role of open, collaborative, user-driven innovation as a driver of the adoption of Industry 4.0 technologies and solutions.
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