Which Countries Will Drive the Future of Production? News Report from RS Components Says U.S. & Canada Among the Top 10
FORT WORTH, TEXAS. November 12, 2019 - It’s fair to say that the Fourth Industrial Revolution is upon us. A way of describing the blurring of boundaries between the physical, digital, and biological worlds, the Fourth Industrial Revolution is a mixture of advances in artificial intelligence (AI), robotics, the Internet of Things (IoT), 3D printing, genetic engineering, quantum computing, and other technologies.
While no one can precisely predict the future, countries are already adopting these emerging technologies, increasing productivity and transforming production systems. Using data from the World Economic Forum’s ‘Readiness for the Future of Production’ report, RS Components has released a report examining which countries are leading the way when it comes to driving production forward, evaluating them through six main drivers: ‘Technology & Innovation’, ‘Human Capital’, ‘Global Trade & Investment’, ‘Institutional Framework’, ‘Sustainable Resources’, and ‘Demand Environment’.
Based on an indexed scoring system of the WEF data, the U.S. takes the crown as the current leading country driving the future of production forward, scoring at the high end of the spectrum on all six categories of analysis. North America was further represented in the top 10 of the report by Canada, which ranked seventh overall. On the strength of its advanced chemical and petroleum manufacturing sectors, Asian economic powerhouse Singapore ranked second overall and the UK ranked fourth
Although these countries take the top spots, rapidly emerging technologies on the whole are transforming production globally. This will affect not only consumers, but businesses and countries all around the world as we embrace the changes to come.
Learn more about the study and view the entire data set here. For more content on the evolution of the global manufacturing and engineering supply chain, follow RS Components Americas on LinkedIn, Twitter, & Facebook.