The Digitization of European business

[EN] This paper can help to better understand the state of the art Industry 4.0 in Europe and the best policies to fulfil its adoption by European business. Digitization or Industry 4.0 represents the future of business, providing ample opportunities for better productivity, efficiency and different business strategies based on digital tools. Using a critical literature review method, this study¿s aim consists of offering a real picture of the role of the European Commission¿s efforts in enabling and fostering the digitization of business through Industry 4.0 initiatives by supporting the creation of Digital Innovation Hubs (DIHs). The DIHs are one-stop shops for promoting digitization through collaboration and open innovation among economic actors on an open innovation basis. DIHs are promoted and sponsored by the European Commission and complement different national and regional initiatives to foster digitization of business, industries and regions. Results suggest that DIHs promote open innovation but are neither coordinated with national and regional initiatives, nor fully support SMEs. The digitization of Europe, however, remains uneven, complicating the potential effect of DIHs.