Kicking off proceedings at this International Conference was the observation that the fourth industrial revolution is already underway, taking advantage of technologies that transcend the boundaries between the physical, digital, and biological spheres. Robotics, artificial intelligence, big data, cloud computing, the Internet of Things, and 3D and 4D printers were held up as just some of the new technologies making a forcible impact on the economy in general and manufacturing in particular. The speed, intensity, and scale with which these innovations are revolutionizing all manner of sectors were hailed as unprecedented.
The advantages of adopting digital technologies were seen as manifold. Production processes become more flexible and efficient, productivity increases, and product quality improves. Those firms that are able to take their manufacturing tradition to the very forefront of technology are especially rewarded in terms of competitiveness gains and the unlocking of new market opportunities.
It was noted that Germany was the first economy to adopt a formal framework for Industry 4.0, back in 2011, thanks to the proactive endeavors of its own homegrown tech giants and the strong engagement of the federal government,. The German plan tended to focus efforts on applied research, project financing, and tax incentives for hi-tech start-ups. Since then, the United Kingdom, the Netherlands, and France have adopted similar initiatives, adapting them to the characteristics of their own manufacturing sectors.
While late to jump on board, Italy, which boasts the second largest manufacturing industry in Europe, was considered still in time to ride this wave. It was felt that appropriate and targeted investments in new technology could make it possible to jumpstart a sector heavily undermined by the financial crisis, turning it into an important driver of growth. Italian firms were called upon to integrate the sensor, networking, and automation technologies characteristic of the fourth industrial revolution into their machinery and systems. In the long term, if open standards were established supporting interoperability between different enterprise systems, Italian industry could also benefit from new interconnection tools for creating business networks that extend even beyond the country’s borders.
It was observed that the Italy’s strategic plan for shaping Industry 4.0 rests on three pillars. First and foremost, tax incentives have been introduced that are sector- and technology-neutral, to enable large and small operators in all sorts of industries to take advantage of the opportunities created by new technologies. Secondly, financial resources have been earmarked to facilitate access to credit for investment purposes by firms that have a low credit rating. Lastly, partnerships have been instituted between various public and private actors to enable the spread of those skills most geared towards the industry of the future.
The participants stressed, however, that although these are steps in the right direction, the challenge for Europe – and not just for Italy – remains enormous. The right incentives for innovation need to be created, attracting talent from abroad, retaining locally-trained talent, and channeling resources to the most promising projects. There is also the issue of education, which must adapt quickly to the changes brought about by the fourth industrial revolution. In this respect, it was felt that the biggest challenge lies in the area of continuing education, especially as regards workers in the advanced stages of their careers, who are struggling to keep up with today’s big technological changes. In conclusion, it was recalled that Italy has, at its own pace, benefited hugely from the industrial revolutions of the past. With farsightedness and cooperation between the various stakeholders, today’s digital revolution could also be transformed into a great opportunity for the Italian economy.