Get our free app for a better experience

4.9
Install Now

Economy and Finance

Economy and Finance

WEF's Global Lighthouse Network

14 Jan 2024 Zinkpot 547
  1. The Global Lighthouse Network is a program initiated by the World Economic Forum in collaboration with McKinsey, which focuses on operational improvement and certification for industrial organizations. 
  2. It is a community of manufacturers that demonstrate leadership in applying Fourth Industrial Revolution (4IR) technologies at scale to drive significant financial, operational, and sustainability improvements. 
  3. The network currently comprises 153 "Lighthouses," which are factories or integrated supply chains that have achieved certification for their advanced technology adoption and operational excellence.
  4. The program aims to facilitate learning and collaboration in the adoption of advanced technologies, with a focus on driving step-change financial, operational, and sustainability improvements.
  5. What does the Fourth Industrial Revolution (4IR) refer to? The Fourth Industrial Revolution (4IR) refers to the current era of connectivity, advanced analytics, automation, and advanced manufacturing technology that has been transforming global business for years. 
  6. It is characterized by the fusion of technologies across the physical, digital, and biological domains, leading to breakthroughs in areas such as artificial intelligence, the internet of things, blockchain, augmented reality, virtual reality, big data, 3D and 4D printing, and much more.
  7. What is a lighthouse? In the context of the Global Lighthouse Network, a lighthouse within a company refers to a factory or integrated supply chain that has achieved certification for its advanced technology adoption and operational excellence. These lighthouses are part of an innovation ecosystem that involves universities, startups, and other technology providers.
  8. Some key characteristics of lighthouses in a company include:
    • Significant impact: Lighthouses must have demonstrated a substantial impact on their industry or sector through the application of 4IR technologies.
    • Successful integration of use cases: Lighthouses should have successfully implemented multiple use cases that showcase the benefits of 4IR technologies in their operations.
    • Scalable technology platform: Lighthouses must have a scalable technology platform that can be replicated and adapted to other contexts.
    • Strong performance on critical enablers: Lighthouses need to excel in areas such as change management, capability building, and collaboration with other stakeholders, including universities, startups, and technology providers.
  9. The Global Lighthouse Network aims to facilitate learning and collaboration in the adoption of advanced technologies, focusing on driving step-change financial, operational, and sustainability improvements.
     

About author

zinkpot

Zinkpot

Ask Anything, Know Better

ASK YOUR QUESTION
अपना प्रश्न पूछें
Join Whatsapp Group