<abstract xmlns="http://www.w3.org/1999/xhtml">

<p>This research paper analyses the opportunities for the possible implementation of the latest technological innovations in the Romanian manufacturing industry. The latest trends in technology can be summed up by the term “Industry 4.0”, or the “Fourth Industrial Revolution”, which brings unprecedented levels of automation, thanks to recent breakthroughs in Artificial Intelligence (A.I.), robotics and much more. However, manufacturing sectors are not created equally and some are more susceptible to implementing new technologies than others. The industrial situation in Eastern and Central Europe is highly debated and complex. During the Cold War, most of the Warsaw Pact and COMECON countries were characterized, economically speaking, by rapid industrialization, be it heavy or light industry. This is also the case in Romania, as it saw an increase in industrial output during the communist era. After the dissolution of the Soviet Union and the collapse of the collectivist ideology, some manufacturing sectors collapsed, while new ones appeared, the case of deindustrialization in Central and Eastern Europe still being under scrutiny, as the industrial output has been more stable than we tend to believe. However, a shift did occur, especially in Romania. Following the transition to a market economy, industrial output suffered a metamorphosis, exchanging some sectors (such as the textile one) for new ones (such as the automotive one, following an increase in foreign direct investments from the West). These shifts in the manufacturing sector have an advantage in the unfolding context, as the new industries (such as auto-manufacturing) are more inclined to adopt Industry 4.0. These factors, in combination with the recent trend of reshoring, are prone to positively influence the future economic environment of Romania.</p>
</abstract>

This research paper analyses the opportunities for the possible implementation of the latest technological innovations in the Romanian manufacturing industry. The latest trends in technology can be summed up by the term “Industry 4.0”, or the “Fourth Industrial Revolution”, which brings unprecedented levels of automation, thanks to recent breakthroughs in Artificial Intelligence (A.I.), robotics and much more. However, manufacturing sectors are not created equally and some are more susceptible to implementing new technologies than others. The industrial situation in Eastern and Central Europe is highly debated and complex. During the Cold War, most of the Warsaw Pact and COMECON countries were characterized, economically speaking, by rapid industrialization, be it heavy or light industry. This is also the case in Romania, as it saw an increase in industrial output during the communist era. After the dissolution of the Soviet Union and the collapse of the collectivist ideology, some manufacturing sectors collapsed, while new ones appeared, the case of deindustrialization in Central and Eastern Europe still being under scrutiny, as the industrial output has been more stable than we tend to believe. However, a shift did occur, especially in Romania. Following the transition to a market economy, industrial output suffered a metamorphosis, exchanging some sectors (such as the textile one) for new ones (such as the automotive one, following an increase in foreign direct investments from the West). These shifts in the manufacturing sector have an advantage in the unfolding context, as the new industries (such as auto-manufacturing) are more inclined to adopt Industry 4.0. These factors, in combination with the recent trend of reshoring, are prone to positively influence the future economic environment of Romania.

Industry 4.0 in Central and Eastern Europe: Is Romania Ready to Embrace the Fourth Industrial Revolution?

Proceedings of the International Conference on Business Excellence

This work is licensed under the Creative Commons Attribution 4.0 International License.

This research paper analyses the opportunities for the possible implementation of the latest technological innovations in the Romanian manufacturing industry....

Industry 4.0 in Central and Eastern Europe: Is Romania Ready to Embrace the Fourth Industrial Revolution?

Online veröffentlicht: 14. Juli 2023

Seitenbereich: 618 - 629

DOI: https://doi.org/10.2478/picbe-2023-0058

Schlüsselwörter
Fourth Industrial Revolution, industry, reshoring, Romania, Central and Eastern Europe, European Union

© 2023 Mihai-Răzvan Nedelcu, published by Sciendo

This work is licensed under the Creative Commons Attribution 4.0 International License.

Industry 4.0 in Central and Eastern Europe: Is Romania Ready to Embrace the Fourth Industrial Revolution?

Online veröffentlicht: 14. Juli 2023

Seitenbereich: 618 - 629

DOI: https://doi.org/10.2478/picbe-2023-0058

SchlüsselwörterFourth Industrial Revolution, industry, reshoring, Romania, Central and Eastern Europe, European Union

© 2023 Mihai-Răzvan Nedelcu, published by Sciendo

This work is licensed under the Creative Commons Attribution 4.0 International License.

Schlüsselwörter
Fourth Industrial Revolution, industry, reshoring, Romania, Central and Eastern Europe, European Union