The policy department of the European Parliament has published a study on the Industry 4.0 initiative. This document was requested by the Parliament's Committee on Industry, Research and Energy (ITRE).
The study looks into the details of the Industry 4.0 which encompasses the increased digitalisation of production processes based on devices autonomously communicating with each other along the value chain.
According to the report, European industries seem not to be prepared for the significant challenges as regards the data, the privacy or the operability of systems. Industry 4.0 will thus only succeed if key requirements are met such as the standardisation of systems and the digital security.
A common EU legal framework would be necessary to support its implementation throughout European industries. The study highlights the potential benefits if the Industry 4.0 is successfully disseminated : productivity gains, revenue growth, and competitiveness.
The European Commission will release its Industry 4.0 plan the 6th April 2016. It will include three Communications as well as two Staff Working Documents on the Cloud and on the Internet of Things (IoT).