Industry 4.0 in Colombia and Latin America: Realities and Challenges

Abstract

Industry 4.0 is a key factor in economic growth, boosting innovation and, consequently, the competitiveness of nations. This article aims to establish the impact of Industry 4.0 on business processes and economies in Latin American countries. This is a systematic, descriptive study with a qualitative approach. It allows the analysis of Industry 4.0 characteristics and the impact on the economy, organizational processes an also how it may threaten the sustainability of certain jobs. The study which focuses primarily on Mexico, Colombia and Costa Rica, reveals different realities. Mexico stands out for its growth in manufacturing and state support, in contrast to Colombia, with limitations on investment in digitalization. Meanwhile, Costa Rica shows potential due to the presence of high-tech multinational companies. Industry 4.0 poses significant challenges for the Latin American region, including investment in education for a proper worker adaptation besides the collaboration among governments, business and academia to take advantage of technology in growing and innovation.