In this report, the National Board of Trade describes the evolution of the Fourth Industrial Revolution (4IR). We identify new production trends and discuss how they will affect international trade.
Trade as we know it will change. The reason for this is that the world is entering an era of rapid digital technological development, labelled the Fourth Industrial Revolution.
The 4IR is the convergence of evolving, mainly digital, technologies. This convergence is driving the change that has already started and that will accelerate in the years to come. Companies are building new business models, using the opportunities derived from these digital technologies and their interactions. The 4IR is set to disrupt almost every industry in every country. It will affect the full value chain – from end to end.
In this report, we identify five major production trends and discuss how they will affect international trade.