TRENDS IN THE DEVELOPMENT OF DIGITALIZATION OF MANUFACTURING INDUSTRY IN LITHUANIA: PROBLEMS AND PERSPECTIVES

Abstract

The fourth industrial revolution and the digital transformation that comes with it is making manufacturing processes more effective, easier to control and optimise. It allows manufacturing businesses to gradually increase productivity and reduce resource use. Digitalisation is fundamentally changing all social segments and the economy; therefore, digitalisation does not solely affect the manufacturing industry but also the macroeconomy and public employment of the country. The current global pandemic has played a major role in encouraging the Lithuanian manufacturing industry to search for new ways to reduce manual human labour in the manufacturing process and to optimise it. The industrial digitalisation revolution is undoubtedly going to result in multiple opportunities for various parts of the society, however the unprecedented speed of these changes is going to interfere with the economy and labour market on a broader scale. Thus, it is important to attempt to mitigate the risks of jobs being replaced by technologies, polarisation of the labour market and increasing inequality among people and regions to successfully introduce digital technologies in manufacturing businesses. The aim of this article is to reveal the predicted trends, benefits, and challenges in development of digitalization of Lithuanian manufacturing industry. This is achieved by systemic analysis of literature and statistical data, and data visualisation.