Innovation 4.0

As it snaps out of years of austerity, Portugal puts industrial innovation at the center of its future.

An article from The Business Year: Portugal 2019 | TELECOMS & IT | FOCUS: THE DAWN OF A NEW DIGITAL REVOLUTION For the full article here

Until recently often seen as a failing economy plagued by inefficiencies and incapable of competing in the global market, Portugal is now enjoying an economic recovery that would have been difficult to imagine just three or four years ago.  As anti-austerity measures supported by strong growth in tourism and public sector reform push the country's economy into smoother seas, the country is now in a position to draft improved policy for its economic future.

In January 2017, the Portuguese government put in place new measures, designed in collaboration with the private sector, to focus on what has become known as Industry 4.0, or the fourth industrial revolution.
This new stage in global manufacturing and industry will be driven by the second wave of computerization, the first being that which triggered the third industrial revolution at the end of the 20th century.

Now, beyond computers, we are witnessing the rise of the so-called “internet of things (IoT)," where smart TVs, smart homes, smart grids, smart factories, smart labels—smart everything—will be constantly gathering data that can be used to improve and optimize industrial processes. The era of big data is upon us, and companies cannot afford to miss out on it.

Last year, the program i4.0 was launched by the Portuguese Ministry of Economy.  The program comprises 60 measures that should help over 50,000 companies make the move into the world of big data.  These measures include financing programs, public-private partnerships, extensive training programs, the revision of education curricula to adapt them to the digital age, the creation of learning factories, the promotion of the Portuguese industrial ecosystem internationally, and the integration of universities with the private sector.