Monday, 19 June 2017 22:51

World Economic Forum Reports on Tech & Innovation

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The new technologies of what is being called the “Fourth Industrial Revolution” have the potential to transform the global geography of production and will need to be deployed in ways that address and adapt to the impact of climate change, reports the World Economic Forum in a paper titled, “Technology and Innovation for the Future of Production: Accelerating Value Creation.” The WEF paper, prepared in collaboration with AT Kearney, explores the new technology landscape, focusing on five technologies that will have the most immediate impact on production-related sectors. It raises questions for CEOs, government leaders, civil society leaders and academics about the implications for individuals, companies, industries, economies and society as a whole, and as is intended to bring new perspectives and generate responsive and responsible choices.

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The paper maps the full production value chain of activities of “source-make-deliver-consume-re-integrate” products and services from origination, design manufacturing and distribution to customers and consumers incorporating principles of circular economy and reuse. Production fundamentally impacts economic structure at a global to local level, affecting the level and nature of employment, and the environment.

The transformative potential of technology in production systems is widely recognized.Trends toward higher levels of automation promise greater speed and precision of production as well as reduced exposure to dangerous tasks. They also can help overcome stagnant productivity and make way for more value-added activity. The extent of automation, however, causing significant anxiety about issues of employment and inequality.

—Download full report at: http://www3.weforum.org/docs/ WEF_White_Paper_Technology_Innovation_Future_of_Produc- tion_2017.pdf

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