In collaboration with McKinsey & Company, the World Economic Forum illustrates how factories of the future are leading the way to innovation in manufacturing.
The need for vision and leadership in the manufacturing sector is clear: more than 70% of companies are struggling to adopt technology effectively, with their efforts to respond to the 4IR stuck in what we call “pilot purgatory”, the attempt to implement new technological solutions without realizing the expected return on investment or improvements in efficiency.
To address this, the World Economic Forum’s Global Lighthouse Network, in collaboration with McKinsey & Company, has identified and brought together 44 of the most advanced factories in the world that are showing leadership in applying advanced manufacturing technologies, including AI, the internet of things and big data analytics, to drive financial and operational impact at scale and transform value chains end to end.
This report outlines severy key lessons from this community which can help the industry thrive in the 4IR.