Industry 4.0: SMEs Challenges and Opportunities in the Era of Digitalization. ZEI Discussion Paper C 252/2019

Ristuccia, Chiara (2019) Industry 4.0: SMEs Challenges and Opportunities in the Era of Digitalization. ZEI Discussion Paper C 252/2019. [Discussion Paper]

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Abstract

The fourth industrial revolution is changing our lives in a pervasive way. Industry 4.0 represents both an opportunity and a challenge for businesses, notably for small and medium-sized enterprises. Cyberthreats are continuing to increase, thus SMEs need efficient cybersecurity solutions to protect their data. Moreover, investments in new technologies must go hand in hand with the dissemination of digital skills. The EU countries have promoted targeted initiatives, but they have achieved different levels of digitalisation. This paper analyses the main challenges that businesses are now facing in keeping abreast of the latest technologies and examines the state of play of the digital transformation in Europe. It argues that the European Union can have a leading role in supporting businesses and citizens to embrace this revolution.

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