Fourth Industrial Revolution: Current Practices, Challenges, and Opportunities

Antonella Petrillo, Fabio De Felice, Raffaele Cioffi and Federico Zomparelli

A chapter in Digital Transformation in Smart Manufacturing from IntechOpen

Abstract: The globalization and the competitiveness are forcing companies to rethink and to innovate their production processes following the so-called Industry 4.0 paradigm. It represents the integration of tools already used in the past (big data, cloud, robot, 3D printing, simulation, etc.) that are now connected into a global network by transmitting digital data. The implementation of this new paradigm represents a huge change for companies, which are faced with big investments. In order to benefit from the opportunities offered by the smart revolution, companies must have the prerequisites needed to withstand changes generated by "smart" system. In addition, new workers who face the world of work 4.0 must have new skills in automation, digitization, and information technology, without forgetting soft skills. This chapter aims to present the main good practices, challenges, and opportunities related to Industry 4.0 paradigm.

Keywords: Industry 4.0; innovation; opportunities; digitalization; economy (search for similar items in EconPapers)
JEL-codes: O14 (search for similar items in EconPapers)
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Citations: View citations in EconPapers (7)

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Persistent link: https://EconPapers.repec.org/RePEc:ito:pchaps:125849

DOI: 10.5772/intechopen.72304

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