Skills investment to boom as ‘Industry 4.0’ nears
22 Aug 2016
Manufacturers will invest in people to make sure they are ready for the fourth industrial revolution (4IR), according to new research by manufacturers’ organisation EEF and cloud application specialist Oracle.
Driven by a global technological and digital transformation, 4IR will become a business reality by 2025, say 80% of UK manufacturers.
But despite this, 83% of firms are gearing up to invest in staff skills, while 65% are investing in management skills.
This is so they can more easily adopt new advances in technology, such as multi-purpose production lines, capital equipment with embedded sensors and controls, and cloud solutions, says the research.
The speed of this new industrial revolution is such that UK manufacturers will need help and support to adjust and capitalise on its opportunities
EEF chief economist Lee Hopley
Employees will also need to adapt to 3D simulation technology, augmented reality and fully autonomous robots, the research adds.
EEF chief economist Lee Hopley said: “4IR will be crucial for UK manufacturing. Manufacturers are aware that it will be a game changer – not just for investment in technologies, but for the cutting-edge, high-level skills required alongside.”
EEF and Oracle have also published a fact sheet to help manufacturers navigate the challenges posed by 4IR.
It is designed to demystify how 4IR technologies can improve efficiency and be used in products, the manufacturing process and across supply chains, EEF said.
“The speed of this new industrial revolution is such that UK manufacturers will need help and support to adjust and capitalise on its opportunities.
“Knowledge and understanding will be key, which is why we have created this free factcard to help get our sector up-to-speed and to encourage companies to share ideas and best practice.”
Earlier this month EEF teamed up with Oracle to help UK manufacturers prepare for the 4th industrial revolution 4IR.
