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This paper focuses on the key aspects of the technological leadership within the context of the fourth industrial revolution (also known as technology 4.0). Technology (or also “Industry”) 4.0 is viewed as having a significant impact on today’s world economic and social progress. The fourth industrial revolution is having a significant transformative impact on the global income levels and the quality of life of people all around the world. Nevertheless, in comparison with the previous industrial revolutions, fourth industrial revolution is tackling the physical, digital, and biological aspects of the development of the economy (e.g. biotech technologies). In addition, information technology became a ubiquitous part of human lives with such aspects as smart homes, smart cities and artificial intelligence dictating the pace of the economic growth and development. We show that it is very important to focus on these aspects of economic growth in order not to miss the breakthrough innovations that would ensure any country keeping up with the technological progress a leading position on the world’s market. In general, our results show that poor leadership could be the biggest obstacle to a successful fourth industrial revolution strategy.

Key aspects of technological leadership within the context of fourth industrial revolution