Accelerating the Impact of Industrial IoT in Small and Medium‑Sized Enterprises: A Protocol for Action
Small and Medium Sized Enterprises (SMEs) are critical to the global economy; however, they are losing ground in the Fourth Industrial Revolution. SME contribution to US GDP fell nearly five percentage points from 1990 to 2014, the latest year. This trend should alarm policymakers, particularly in emerging markets where smaller companies are the primary drivers of economic opportunity and social mobility, creating 90% of new jobs, according to the International Trade Center.
Small and Medium Sized Enterprises (SMEs) are critical to the global economy; however, they are losing ground in the Fourth Industrial Revolution. SME contribution to US GDP fell nearly five percentage points from 1990 to 2014, the latest year. This trend should alarm policymakers, particularly in emerging markets where smaller companies are the primary drivers of economic opportunity and social mobility, creating 90% of new jobs, according to the International Trade Center.
To help SMEs keep up with the pace of technological change in the Fourth Industrial Revolution, the World Economic Forum has launched this paper. It details how policymakers can deliver on a more inclusive Fourth Industrial Revolution and make sure that SMEs are not left behind.