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Innovating business models for Industry 4.0

27 Dec 2021

The APO and NPO, Pakistan, encouraged innovation-led productivity growth through a workshop on Innovative Business Models for Industry 4.0

Digitization and applications of digital technologies are revolutionizing methods of production, distribution, marketing, and overall business management. They are also blurring the boundaries between business functions and sectors. Strengthened vertical and horizontal integrations in value chains are observed in industries; meanwhile, decentralized suppliers of goods, services, and ideas are seen in the industrial landscape. Considering the heightened competition also brought by digital technologies, it is imperative for businesses to identify and embrace innovative models to stay flexible, resilient, and competitive.

To support member economies in this endeavor, the APO organized a workshop on Innovative Business Models for Industry 4.0, 24–26 November, in partnership with the National Productivity Organization of Pakistan. The workshop included sessions on the core technologies of Industry 4.0, new rules of digital marketplaces, embracing opportunities in entrepreneurial ecosystems, digitization and innovation for SMEs, and strategies for encouraging innovation in SMEs.

The 37 participants from 11 member countries represented both government agencies and the private sector. Four resource persons from the ROC, Italy, and Pakistan conducted the workshop.

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