UID:
edoccha_9960786905202883
Series Statement:
Other papers
Content:
This paper investigates the current state of creation and adoption of Industry 4.0 (I4.0) technologies within the Czech Republic. I4.0 technologies, which include technologies such as big data analytics, cloud computing, the Internet of Things, and advanced robotics, hold great promise for increasing the economic competitiveness of adopters. These technologies are also often discussed in terms of their potential to disrupt existing business models and value chains, particularly in the manufacturing sector. The Czech Republic presents an interesting case study for I4.0 technology creation and adoption: the country boasts one of the strongest manufacturing sectors in Europe relative to the size of its economy but suffers from low productivity and an increasingly acute labor shortage. to remain competitive in the global economy and avoid the middle-income trap, the Czech Republic has a critical need for technologies that can substitute labor through automation and increase the productivity of the existing workforce.
Language:
English
