Luis M. Suárez Fernández, Head of the Connected Industry 4.0 Department of the Directorate General of Industry for SMEs

“The digitalisation of industry could generate an additional 120,000 million euros for Spanish GDP and a 3% annual growth for companies”

Luis M. Suárez Fernández, Head of the Connected Industry 4.0 Department of the Directorate General of Industry for SMEs, part of the Ministry of Economy, Industry and Competitiveness:

“The digitalisation of industry could generate an additional 120,000 million euros for Spanish GDP and a 3% annual growth for companies”

“The digitalisation of industry could generate an additional 120,000 million euros for Spanish GDP and a 3% annual growth for companies”, according to Luis M. Suárez Fernández, Head of the Connected Industry 4.0 Department of the Directorate General of Industry for SMEs, part of the Ministry of Economy, Industry and Competitiveness.

Suárez has taken part in a workshop organised by IFEMA about Digital Transformation and the changes that it is having on this sector. The Ministry head has explained the public initiatives in Digitalisation: Connected Industry and Digital Agenda.

Suárez Fernández has explained the public initiatives in Digitalistion: Connected Industry and Digital Agenda, and has warned that “the challenge is to integrate connectivity to allow our corporate and industrial sectors to progress.” He stated that, as well as generating an additional 120,000 million euros, “the digitalisation of industry would drive an estimated 2% GDP year-on-year growth; and it would increase company turnover by around 3% annually, along with a 3.5% cost reduction”.

However, the Head of the Connected Industry 4.0 Department of the Directorate General of Industry for SMEs, part of the Ministry of Economy, Industry and Competitiveness has also warned that the Spanish business world isn’t yet ready to deal with these opportunities. “Only 10% of companies have something akin to a digital transformation strategy. And this year at least 55% of Spanish industrial companies don’t anticipate investing in digitalisation at all”.

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