Objective: Support economies and industries 4.0 efforts to lead an inclusive transition to the production landscape of the future
Production has traditionally been an engine for growth, prosperity, and innovation in economies around the world. Many advanced economies today accelerated their growth and development through early industrialization. Newly industrialized countries followed similar paths in more recent decades, achieving unprecedented growth and development through industrialization and export-led growth. However, traditional industrial development models that have worked in the past are now being challenged as viable growth models for the future. Fourth Industrial Revolution technologies, such as the internet of things, artificial intelligence, wearables, robotics and additive manufacturing, are spurring new production techniques and business models that will fundamentally transform global production systems. Identifying the capabilities, factors and institutions needed to benefit from these technological changes and facilitate structural transformations will be critical for countries to compete in the future. Furthermore, unprecedented possibilities for leapfrogging may emerge as we transition toward a new technological paradigm.
Launched in 2018, Readiness for the Future of Production is a new diagnostic tool, a benchmarking framework and dataset to build awareness of the key levers and factors required to transform production systems, help decision-makers assess the extent to which their country is “ready” and positioned to shape and benefit from the changing nature of production, catalyse public-private sector dialogue, and inform the development of joint actions and modern industrial strategies.
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The nature of production is undergoing unprecedented change as new technologies transform cost structures, make new business models and methods of production available, and bring entirely...