Manufacturing has been earmarked by the World Economic Forum and the European Union as a major driver of increased employment opportunities, reduced carbon emissions and better educational prospects for young people. This huge ambition largely rests on the advent of the smart factory and the rollout of Industry 4.0, which will make manufacturing more affordable in high-wage countries.
The WEF sets out the scale of change in its paper on the Fourth Industrial Revolution (4IR). “The possibilities of billions of people connected by mobile devices, with unprecedented processing power, storage capacity, and access to knowledge, are unlimited. And these possibilities will be multiplied by emerging technology breakthroughs in fields such as artificial intelligence,…
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