We hear a lot about the impact of Industry 4.0 in manufacturing, but it can be a complex and thorny issue to definitively explain. The term has become synonymous with smart manufacturing and the introduction of new digital technologies within the sector. Technologists talk about the Internet of Things (IoT), AI and machine learning, robotics or the power of cloud computing, but what does it all mean?
InterAct welcomed Dr. Olivér Kovács of the Ludovika University of Public Services, Budapest to an online session on 23rd May to share his insights on the 4th Industrial Revolution, how technological change can be accomplished and what key barriers to innovation remain.
Dr. Kovács is a Hungarian economist whose research embraces two fields:
- Sustainable development through the lens of complexity science (including structural change, techno-economic paradigm shifts, Industry 4.0, state fiscal sustainability and the theoretical and empirical issues of fiscal policy and fiscal consolidations)
- Innovation and innovation policy
He has been a member of public body of Hungarian Academy of Sciences since 2015 (Economics and Law Section of the Hungarian Academy of Sciences, Committee on World Economics and Development Studies), a member of the EuroMoney Expert Panel since 2010, and a member of the Darwin Club for Social Sciences which is equipped with the idea of applying evolutionary and complexity approaches to socio-economic phenomena.
Dr. Kovacs has published several books including:
- Stability and Dynamism – Fundamentals of Innovative Fiscal Policy
- Complexity Economics: Economic Governance, Science and Policy
- Reversing the Great Suppression – Unleashing the Catalytic Public Sector for Innovation Dynamism
You can watch the full session on our YouTube channel.