According to EEF, new digital technologies are transforming European manufacturing, with investment in fourth industrial revolution (4IR) technologies being vital to achieving a change in UK manufacturing productivity.
However the fact card, How 4IR is transforming manufacturing productivity, shows 57 per cent of manufacturers are yet to make investments and only one in four companies see the UK as being in a 4IR leadership position.
EEF suggests barriers are standing in the way of additional investment and industry and government need to do more work together to overcome these as part of the industrial strategy.
In comparison to 2016 where 42 per cent were familiar with the concept of 4IR, according to the recent survey this has increased to 64 per cent.
Progress is highlighted by the fact 43 per cent of companies have moved beyond the initial ‘conception’ phase examining how 4IR may help and what others are doing, to the ‘evolution’ phase where current business practice is optimised with new technologies.
The survey also shows the transition to a more advanced form of 4IR investment for companies is seeing benefits being expected or realised in terms of improved labour efficiency (35 per cent), improved machine utilisation rates (34 per cent) and increased production flexibility (32 per cent).