The Next Economic Growth Engine: Scaling Fourth Industrial Revolution Technologies in Production
After a decade of stagnated productivity, the Fourth Industrial Revolution is expected to create up to $3.7 trillion in value by 2025. Technologies such as the internet of things, advanced robotics, artificial intelligence and additive manufacturing are already helping to generate net productivity increases.
After a decade of stagnated productivity, the Fourth Industrial Revolution is expected to create up to $3.7 trillion in value by 2025. Technologies such as the internet of things, advanced robotics, artificial intelligence and additive manufacturing are already helping to generate net productivity increases.
However, to achieve the desired broad-based economic and societal impact and to maximize productivity benefits, technology must be adopted at scale and diffused throughout the ecosystem. This requires strengthened collaboration between governments, businesses, academia and civil society,
thus unlocking the full value delivered to the economy and society.
Within the System Initiative’s framework, the Technology and Innovation for the Future of Production project, developed in collaboration with McKinsey & Company, is exploring how industrial companies can take technology adoption in production from proof of concept to industrial scale. The project
is also examining how governments and civil society can best support the development of a favourable ecosystem for adopting and diffusing technology across industry sectors.
This White Paper summarizes new findings, conclusions and recommendations for governments and businesses, drawn from desk research and extensive consultations from May to November 2017. The goal is to inform the design of
future strategies for the adoption and diffusion of Fourth Industrial Revolution technologies at scale through strengthened public-private collaboration.