Time to Chart the Map(s) of Change

Vincent Petit and Mike Rosenberg

Chapter 17 in The Next Industrial Revolution:A New Age for Innovation in Industry, 2023, pp 337-360 from World Scientific Publishing Co. Pte. Ltd.

Abstract: Now the time has come to make sense of what we have discussed above. A considerable potential for a unique moment of innovation in industry exists, with promising opportunities and pressing challenges fueling research and development in every sector, with a new technological toolbox emerging at the same time, further extending the reach of possibilities. As we have seen, many of these innovations are interlinked (what I called the butterfly effect), and, combined, they could drive significant paradigm shifts that would change our industrial system into one that is more circular and distributed, relying on a more distributed and electric energy system and alternative fuels and materials. Yet, success in the unfolding of these innovations will depend on key enablers. Policies and technology maturity will both play a fundamental role, which is well known. They will not be sufficient to drive change, however. A rearchitecting of competencies and business models will be needed, too. More importantly, a new narrative is also crucial, one that has a positive view of the future. This could well come from new economies, which will follow a different route than their affluent counterparts…

Keywords: Industry Revolution; Innovation; Decarbonization and Climate Change and Environment; Circularity; Productivity; Resiliency; Greenhouse Gas; Materials and Resources; Digital Technologies; Internet of Things; New Energy Technologies and Electrification; Nano- and Biotechnologies (search for similar items in EconPapers)
JEL-codes: O13 O3 Q4 Q43 Q48 Q5 (search for similar items in EconPapers)
Date: 2023
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