3FOOD

Third Industrial Revolution Consulting Group
Digital Single Europe & Digitizing European Industry
The European Commission is moving forward with the establishment of the European cloud in
tandem with the Digital Single Europe initiative. Among its numerous functions will be
connecting Europe’s 70 million science, technology and engineering professionals and 1.7
million researchers to a vast repository of research data. This open source virtual storage and
retrieval network will enable professionals and researchers to access and share voluminous
amounts of data and information for performing analyses and applying to new uses and
innovative applications. The European Commission estimates more than €50 billion of public
and private funds will go into digitization of industry. 183 It has been estimated that EU industry
revenue will increase by an additional €110 billion per annum over the next 60 months as a
result of this digitization of industry. 184
New Business Models for TIR
The myriad of challenges puts a premium on Business Model Innovation (BMI) initiatives, a
point succinctly summed up by the Working Group, “The past has shown that ‘waves’ of
disruption are regularly challenging our companies in Luxembourg. Some companies will
disappear; new ones will emerge. Hence it is important as well to detect the opportunities of
tomorrow and help promising entities to seize their chance to become a leading actor of
tomorrow’s industry.”
As such, a bold vision statement sums up what the Luxembourg industry hopes to accomplish:
“Luxembourg: an internationally recognized platform for sustainable
Industrial excellence through innovative solutions”
The Working Group on Industry created a common vision for industries established in
Luxembourg. The vision should provide both the guidance and inspiration necessary throughout
this transformational process. It is a brief, but powerful statement, one that is aimed at helping
all stakeholders in their efforts to address the challenges and opportunities of the Third
Industrial Revolution.
183 EC (2016) Commission sets out path to Digitise European industry, European Commission, April 19, 2016,
http://europa.eu/rapid/press-release_IP-16-1407_en.htm.
184 EC (2016) Digital Single Market – Digitising European Industry Questions & Answers, European Commission,
April 19, 2016, http://europa.eu/rapid/press-release_IP-16-1407_en.htm.
212