Industry 4.0 — policy-based approaches to efficient implementation in SMEs

Industry 4.0 (I4.0), driven by the need to access real-time insights and information across the manufacturing process, creates a disruptive impact on industries. Largescale machine-to-machine communication, virtual reality (VR), the Internet of Things (IoT), simulation technologies and network management are integrated for increased automation, machine learning, self-controlled social and technical systems (Smart Factories). The uptake of advanced manufacturing solutions represents a challenge for businesses and SMEs in particular. SMEs possess neither the organisational capability nor financial resources to systematically investigate the potential and risks of introducing Industry 4.0. However, the so-called Fourth Industrial Revolution is a matter of technology and cooperation between European regions to share knowledge concerning alternative regional and national approaches to reinforcing the I4.0 uptake. Therefore, this paper primarily aims to analyse practical experience on how European policies related to the European Regional Development Fund (ERDF) can unlock the full potential of Industry 4.0 and overcome the fragmentation of Industry 4.0 solutions. Case studies of successful transfer of I4.0 to SMEs in Europe and supporting regional policy instruments presented in the paper could inspire and enable the potential of digitalisation by dealing with main challenges hampering their diffusion into the business ecosystem.