March 24, 2021

The Fourth Industrial Revolution post-COVID-19

Augmented reveals the stories behind the new era of industrial operations, where technology will restore the agility of frontline workers. 

In episode 9 of the podcast, the topic is: The Fourth Industrial Revolution post-COVID-19. Our guest is Francisco, Betti, Head of Advanced Manufacturing and Production, World Economic Forum.

In this conversation, we talk about why he got into manufacturing and how the World Economic Forum works. We discuss how the Forum has changed over these past 5 years and how manufacturing has become the lead topic among the global elite. The manufacturing platform is now, arguably, the primary among 17 flagship initiatives at the World Economic Forum. We go deeply into the changing business models of manufacturing and what the next decade holds.

After listening to this episode, check out World Economic Forum as well as Francisco, Betti's social profile.

  • World Economic Forum:
  • Francisco, Betti:

My takeaway is that manufacturing has escalated in prominence during COVID-19, and for good reason. What we can produce decides what we can become. The deep digitalization gains society has made over the past few years had to quickly be implemented on the factory floor. Surprisingly, a large part of the industry was ready. But the process now needs to complete and the results will likely be an entirely new production platform for the world. 

Thanks for listening. If you liked the show, subscribe at or in your preferred podcast player, and rate us with five stars. If you liked this episode, you might also like episode 4 on A Renaissance of Manufacturing or episode 6 on Work of the Future. Augmented--the industry 4.0 podcast.


The Fourth Industrial Revolution_mixdown

Trond Arne Undheim, host (v): [00:00:00] Augmented reveals the stories behind a new era of industrial operations, where technology will restore the agility of frontline workers. In episode nine of the podcast, topic is the fourth industrial revolution post COVID 19. Our guest is Francisco Betti, head of advanced manufacturing and production at World Economic Forum.

[00:00:23] In this conversation, we talk about why he got into Manufacturing. And how the World Economic Forum works. We discussed how the Forum has changed over these past five years and how Manufacturing has become the lead topic among the global elite. The Manufacturing platform is now arguably the primary among 17 flagship initiatives at the World Economic Forum.

[00:00:47] We go deeply into the changing business models of Manufacturing. And what the next decade holds Augmented is a podcast for leaders hosted by  Trond Arne Undheim, presented by the Manufacturing app platform and associated with The Manufacturing upskilling community launched at the World Economic Forum, each episode dives deep into a contemporary topic of concern across the industry and airs 9:00 AM us Eastern time.

[00:01:17] Every Wednesday, Augmented. The industry 4.0 podcast.

[00:01:22] Francisco. It's great to have you here.

[00:01:26] Francisco Betti, World Economic Forum: [00:01:26] Excellent. Thank you for hosting me, Trond.

[00:01:28]Trond Arne Undheim, host (v): [00:01:28] Francisco, you are an international development professional. You are now working for the World Economic Forum. And I meet you regularly because you support an enormous amount of activity there in Manufacturing.

[00:01:40] But I wanted to bring us back a little bit to your sort of origin. I know you went to the Sapienza university in Rome, studying international relations and then worked a little bit in consulting. What was it that got you interested in Manufacturing? Because it's a path that I always have to ask people about.

[00:01:58] It's not the obvious path today, but perhaps it would be the obvious path tomorrow, which we'll get to. But I'm curious about your way

[00:02:06] Francisco Betti, World Economic Forum: [00:02:06] It's a great question. Trond, and indeed I have a background in international development relations  economic development as well. And I had a past carrier in consulting, eh, How did I start focusing on manufacturing most of the World Economic Forum back in 2015, actually, when I joined the Forum that would realize there was a need to launch a new piece of work, a new conversation on the future of production on the future of manufacturing.

[00:02:36] And we started at the time working on a very small concept that was pretty much oriented on the, towards the policy angle. Which is why there, you get the connection with the international development space. At that time, we were in conversations with a few governments who were not yet aware of this concept of the fourth industrial revolution, but that who started to see the wave of transformations, that they knew what to go into, disrupt their manufacturing base and have an impact on their manufacturing base.

[00:03:07] And therefore we started a conversation with prime ministers with me sort of industry that then led to put together a project concept. That evolved over time. And two, there is one of the 17 global platforms and initiatives that the World Economic Forum is running, that I lead on the future of advanced manufacturing and production.

[00:03:26] So they were both at the very beginning, we started focusing pretty much on the policy angle today. They'd say real public private platform where most companies and governments at booking at World the actions that needs to be taken to shape the future for production that works for

[00:03:41] Trond Arne Undheim, host (v): [00:03:41] all. Francisco, it's a fascinating journey for you, but it's also an incredibly fascinating journey for the field of Manufacturing.

[00:03:50]And I wanted to address a little bit how Manufacturing. As a platform became one of the 17 flagship initiatives. And by that, you know how the World Economic Forum itself has changed over these past few years. And then lastly, the last year has meant enormous change with preparation around COVID and again, Manufacturing has been escalated into this enormous importance.

[00:04:14]And I would imagine that your development background has come in handy because the kinds of issues that suddenly became foreground were a little unusual, for Manufacturing as well. So for, so firstly, what has happened at the World Economic Forum over these years that has catapulted Manufacturing into this prominence.

[00:04:35] Francisco Betti, World Economic Forum: [00:04:35] When I think that in, in the conversations with our water, private sector community, but also with the public sector that we realize that there was an urgent need for the public private dialogue to be brought back on top of the agenda. We all know what happened with COVID right. The disruptions that we saw.

[00:04:55] In Manufacturing, I think made this realize, that when things were running Manufacturing, you run out of essential products, not even talking about the protective equipment, ventilators and all the things that were both need because of the public crisis, but even basic supplies such as food or toilet paper.

[00:05:12]Became an issue and people stopped talking about those. So I think that there was, let's say that there was, it really say shown that Manufacturing still plays a major role, know what a global economies and society and that's something that is quite exciting and interesting, but you need to look at capital a few years back.

[00:05:28] And I think that is that, if you look at the pre COVID world and you start thinking about how to. Different mega trends were shaping the war that you also realize why Manufacturing came back and became an important issue on top of the global agenda for our water, both private and public sector communities.

[00:05:47] And what I'm talking about is the combination of mainly probably three or four mega trends, but it's the fourth industrial revolution. Which is a concept that I would executive chairman lounge back in 2017, mainly referring to the blur blurring lines in between the OT and it Boer that are transforming, not just scalpel where companies operate, but probably not who we are and what we do as human beings.

[00:06:12] So it was the concept of the fourth industrial revolution. So together with climate change imperative for sustainable, with the geopolitical trends, tensions that we saw over the past four to five feet. And of course, all things does that relate to the jury Economic evolution, right? In which you cannot element set us aging population or this long enough the global economy, but it's all those strengths and combinations that made people realize the importance of Manufacturing and that brought it back.

[00:06:43] Onto the global agenda. So it's been a fascinating journey. It's been, there has been plenty of discussions which would run from the technology angle and how technology can transform Manufacturing for the good, and what's the positive thing, but in Kevin's society, and most recently about the role that Manufacturing can play in the context of the, of, this concept of stakeholder capitalism.

[00:07:05] At the need to create value, a new value that is delivered, not just to shareholders, but to shareholders, worker, society and the environmental at all.

[00:07:15] Trond Arne Undheim, host (v): [00:07:15] It's fascinating because many of these concepts. Too, some of us are fairly abstract still because like stakeholder capitalism. And unless you truly are in this battle or you either were, fighting for it to even emerge or you are at the C level.

[00:07:30] And you're basically being tasked with figuring out what this concept is going to translate into. But it seems to me that what you're saying that with Manufacturing becoming such a forefront of sort of many battles in society, this is not theoretical anymore. And it's something that all people can relate to.

[00:07:48] Whether you are on the factory floor, you implementing your OT, as you said, your, operational technology or you are, at the leadership level and trying to strategize about. What this means for the organization as a whole.

[00:08:03] Francisco Betti, World Economic Forum: [00:08:03] And you're absolutely right. Manufacturing is exactly what change is happening today.

[00:08:07]We are hearing on a daily basis, global companies making commitments. The worst is the STDs with those, the concept of stakeholder capitalism setting, very ambitious targets by 2025, 2030, getting CO2 emissions. The only place English we are seeing that happening now. Eating Manufacturing, Manufacturing, stinginess speed.

[00:08:27]When you double click on how digital technologies digital solutions, advanced manufacturing industry 4.0, it's transforming the world of operations, driving massive efficiencies and productivity, revolutions driving growth. And at the same time, I've mentioned workers contributing the wards. The sustainability targets by cat in energy consumption, water consumption, material consumption.

[00:08:50] Optimizing waste management. I think that's when you realize that, that it's probably in the real economy space, in the manufacturing space. Would all those commitments are starting to come to life and that we are seeing real change and real action. It's extremely exciting.

[00:09:05] Trond Arne Undheim, host (v): [00:09:05] Yeah. And it's also an interesting time because, without getting into the politics of this, there, there clearly is a bit of an outcry because of. The success of technology and other fields, social platforms and other, other digital advances that we have made have created sort of a, both an enormous opportunity, which of course explains why so many things can be achieved in Manufacturing, but they were about to run awry a little bit in the sense that they weren't, or aren't still contributing to the global good.

[00:09:36]In the direct sense that the manufacturing industry of course is primed to do, but for so many years was not, it's still boggles my mind though, that we are having these conversations at the Forum. These conversations are happening, but I don't think that everybody is fully aware of how far Manufacturing is about to.

[00:10:01] Change and emerge on the world stage. Give us a little bit of a sense before we get into kind of the meat. And I want to talk about business model changes in the industry, but what do you think is needed for the greater public? And by that, young people, older people to realize that Manufacturing is actually where things are happening today.

[00:10:25] What does it take to see it?

[00:10:28] Francisco Betti, World Economic Forum: [00:10:28] What I think that it's a great question. Trond anything that one of the, we probably need to start by asking what can manufacturers do to get closer to the general public and, things like open up facilities so that people can see it. World bought a factory, not of the future, but the factory of today look like.

[00:10:47] And how do you know she'll throw operators are interacting with new software technologies, need interfaces, how the world of advanced robotics. We've even seen drones find within facilities to the inspection, right? There's the level of techno technological transformation and the patient with this happening.

[00:11:04] Within manufacturing facilities. It's amazing. And, if you link that to the jobs conversation, and you not how that connects to new generations, I think that it, I'm sure that, the younger generations will get very excited if they have, it tends to see things that are there's any, Manufacturing has been traditionally because that's the role it used to place, always behind the scenes.

[00:11:23]I think that we do have an opportunity. For manufacturers who start a show to the general public, what it is and what it really looks like and how exciting it is. And also the contribution it makes. We cannot have a lot of the things that we enjoy today in life, could not be enjoined.

[00:11:37] If that wasn't a factor, if that also the facility satellite chain behind it. So yes, I think that there's, I. That is something that the Manufacturing community can do better, which is to talk more about the things that are happening in Manufacturing, a very transparent open way. And that's one of the things that we're able to get out of the Forum, is providing that platform change wrapped with the general public.

[00:12:01] Trond Arne Undheim, host (v): [00:12:01] I just wanted to to point out that. Again, these are sensitive things, but the Forum for a long time was just the way it was set up. It was a conversation between leaders. But I have seen over the last few years, that more and more you realize or maybe you explain it to me that it's more than a conversation between theaters.

[00:12:21] Clearly, this conversation is more important than ever, but in addition to a conversation between leaders, you and the industry needs to foster. A conversation with small and medium sized enterprises. And as you pointed out, actually with the greater public, because the battle here is of a better of a battle of interpretation, is this an interesting space to be in?

[00:12:45] And if so, we all need to innovate within this space. That must be challenging for a network that was basically mostly set up to dialogue with leaders. I wanted you to talk a little and begin this discussion, cause I know you have written a paper on changing business models, but at the same time as he's writing this paper, The Forum is almost having to change its own business model.

[00:13:08] So I want you to address that just because business models is such an abstract thing. So I wanted you to personalize that a little bit as you explaining what business models mean in manufacturing these days.

[00:13:19] Francisco Betti, World Economic Forum: [00:13:19] Absolutely anything that we at all, we are all transforming of what a self set speed we did.

[00:13:24]The current context is either, disparate transform innovate on or that, you know what days, but I think that, and that happened to, to every organization, this regard in this space, in which they operate, maybe you're on your own. The first part of the question, I think that. 50 years ago or 51, when the Forum was founded by the executive chairman, professor sharp, it, of course, to convene lead us.

[00:13:46] But then over time we evolved and became a, an international organization for public type of corporation in which dialogue is just an important component of what we do. What really happens at the Forum is the formation of communities that are able to drive action and impact over time. Now, of course, in the context of the Karen pandemics is how do you bring leaders together and how do you orchestrate and incubate those sections that will delivering that, eh, became a challenge, but you know what?

[00:14:19] It forced us. She adopt digital technologies at a pace. That, that we didn't start. We could, we were doing that before, but COVID played a major accident to roll. And I'll give you an example to make it tangible. You care about what initiative which we call the global health network that we are deploying together with McKinsey and other colleagues.

[00:14:39] And what was fascinating is that we had approach is in place through which we were physically assessing the facilities that as soon as the COVID. A crisis started. We were not forced to change the approach and we didn't need app coming up with a process to run virtual remote visits. And we realized that technology was spreading by shipping a simple kid in what'd.

[00:15:00] You have a phone, stabilized, some, a headset with a canceling noise effect. And if you are the very basic technologies, you could almost get to the same product that you get to get in when visiting the facilities in person. So we reorganized ourselves and what I'm very proud of is that. If you look at how we have been grinding some of our water key gatherings, but also some of the initiatives that are having a real impact on the ground.

[00:15:24] We were able to triple the pace in which we were operating. So now we have seen the same. Happening in the manufacturing space to connect that with your second part of the question, which is how about business models and operating models? I think that during the crisis, because of the shortages from the supply disruptions on the demon side, every company in the operations, in the manufacturing space was facing new challenges, which forced them to take innovations to new and unprecedented labels.

[00:15:51] Now what we saw it's in a very short period of time, New ways of generating and delivering value coming up. When I say done writing, I'm referring to the operating model in the way in which we defined it together with the professors who bought for that position, paper referred to  company generates creates value.

[00:16:13] Now the business model is the way in which that value is taken. So the customers it's deliver and then converted into revenues and. Someone could say that they innovations, that we started to see et cetera, speed. Probably what of three or four main types. The first one is that companies finding new, innovative ways to make the products they were making before.

[00:16:37]So a lot of innovations in the way they were operating, to find a new sources of supply, but also adopting technology to take those products to a new level. I'm very often finding that those products should be made even better. Because of the innovations that were injected. The second relating to that was the emergence of new products.

[00:16:56] So companies started to report and reposition Manufacturing to the, to be able to deliver new goods that were in high demand. The most obvious example, there is the companies who started to made. Forum from mask and any type of  sanitized. But that will show some proof is that you notice quite rapidly with the right level of technology innovation.

[00:17:18]You can report a post and you can tap into a manufacturer of something different would, can generate again, new value, linking that to the business model. Now they, the subtype ease. This idea of topping up products with services. So this is creating a digital thread across the entire value chain to be able to generate new value and deliver new value to the customers, not just by the hardware, that company sort of the physical products that companies were selling, but by topping them up with new services, you not being able to get data all the way from the customers to continue improves performance and have meant the experience that customers were getting.

[00:17:57] And then the fourth one. I, and that, that is that it's a very exciting one is the us is service concept. We have seen many manufacturing companies that were able to rapidly short out operational and business issues for themselves and became services providers. Now, if you look at those four things, What I believe is exciting is that someone could argue that Manufacturing eats again at the age of becoming a new engine of economic growth.

[00:18:26]There's a lot of growth that is going to come for all from all these innovations that we're going to see next to the rating and who are sparked in emerging from Manufacturing, eh, and at the same time, because of what we discussed before. We have the opportunity to make that World gross more sustainable, inclusive, and make sure that it worked for a large number of stakeholders.

[00:18:46] So that's what makes it very excited. And maybe the final song that is that because of the connection with business models, because of the ability to enable growth Manufacturing yesterday again, is seeing your conversation. We have seen more and more CEOs, getting closer to the operation or the other way to look at it.

[00:19:04] We are seeing more and more chief operating chief up. If you set a squatter. Either stepping into the CEO role of will likely become the next generation CEO for the company.

[00:19:13] Trond Arne Undheim, host (v): [00:19:13] Francisco. This is fascinating because it almost brings us historically back to the heydays of Manufacturing and, Manufacturing has always been at the heart of every industrial revolution.

[00:19:25] And I think when Klaus Schwab first wrote about the fourth industrial revolution, I don't know that everyone really accepted it because it sounds nice. And it would be nice if it was happening. And you knew, arguably you're looking at these technologies, they're saying there, there has to be a revolution back in the day when that was written and the, sort of the precursors of this discussion, In all honesty, there was perhaps no revolution yet, right?

[00:19:50] Because there were platform technologies that were available, but you would still have to implement them. But what you're talking about now is how it, it is basically over the last very few years becoming implemented into not just large, but also smaller organizations and then creating new ones. But. To adjust the first part of what you were saying about these larger firms.

[00:20:15] So these kind of superstar firms, I believe you called them in your report. There is a value there as well in an economy to have superstar firms that are actually creating value. There's of course, less value to a society, to have superstar firms that are only creating value for themselves. So that's an important distinction to make, but I wanted to bring this a little bit into kind of the.

[00:20:38] Discussion on education. I was reading the other day about, in the olden days when the pressure basically recreated the modern education system, it was largely factory owners. Who are supporting that even economically and in terms of the pedagogical models. And I was reminded that it is almost a similar challenge we're facing today, right?

[00:21:01] Because it's quite an education challenge on and on all levels, I wanted to ask you how do you see this happening? How is this shift truly going to take place? Because now the technologies are starting to. We put in place, how is the world's worker base going to benefit from this fast enough?

[00:21:25] How are we going to reshape the education system? Surely we can't put them in four year colleges. And if we start to, reframe the gymnasium, which was the strategy back 250 years ago, that again is a nice strategy. If you're talking in decades, But this industrial revolution isn't happening over decades.

[00:21:44] It's happening over years and months.

[00:21:47] Francisco Betti, World Economic Forum: [00:21:47] Yeah. Maybe there are a we can break the, I think it's a very important piece of the bigger parcel. And you can not talk about the future of Manufacturing. Without talking about the future of skills, eh, pretty much skills revolution that is needed because we know that today there is a skill shortage in Manufacturing, whatever you go in the Boer, that is happening.

[00:22:09] And not because they are noting Africans available, but because the people who are coming out of universities, do not have the required skills. What out of college, you don't have the required skills that are needed on the shop floor. What a gross your engineer in base. And maybe to break it down, I think that I could share three, three different avenues that that companies and governments are exploding.

[00:22:31]The first one is rethinking thinking. They went with companies, universities, and colleges and governments interact. I think that the concept of you get a college degree or a university degree, and then you got a all set for life. It's outdated. We will need, if you look at the pace at which technology is evolving and with factories and supply chains that have been transformed, we will need to find new mechanism in which people who work in Manufacturing will, and should be able to continuously go back and forth in between formation training, technology updates and.

[00:23:01] The shop floor on the supply chain. I think that's the benefit of things that companies are starting to think that, and there are interesting pilots that are being deployed in many places with new partnerships in order Forum, in between a specific university and a specific company in a specific location.

[00:23:15] Or do you notice. People who are, or companies are invested in training students in a specific college, not by giving them the chance you at the very early stages, get unexperienced on the shop floor. So that's probably the first basket of change that we need to see company. The second one it's maybe around the, this gives needs.

[00:23:38]If technology is, growing and developing exponentially technology, I'm talking about technology, not in general, but technology applied to dress, to further specific production or business issues in the manufacturing space. And to be able to develop new use cases better, if that is changing and continuous changes and the pace that would is changing, we will need to find, make, and it's to constantly monitor and identify the skills.

[00:24:01] That way to be trained people on and how often it called it's Greek curriculum or university, our curriculum gets updated. Not often enough. So that would, should create a new dialogue in between those who provide the training and those who have this needs to go into an, a con continuous let's say, update and upgrade process there as well.

[00:24:22] And the third one, which is the most exciting is that we probably need to think about how do we more correct ties training in Manufacturing and the best analogy there. Eh, how much training did you get to learn how to use the apps that you have on your mobile phone? No. And you get a new app, you just download a new application that you need, whether it's for navigating, a city or a new language or whatever.

[00:24:48] And after half an hour, you are ready to go. So I think that does salute. That can be democratized when it comes to training Manufacturing is we leverage technology, not just to transform production, but also to transform the way in which people interact in a factory. So this concept of new interfaces, and also the fact that we, we need to think about technology not as a given.

[00:25:11] But as something that we can influence and that we can say Lord, and that we can put in order the concept of the series that you are writing these, the Augmented, eh, used of what the Augmented, I think that we can leverage technology today. And we're enabled to do that. If you get to say God, but we can leverage.

[00:25:25] To augment workers capabilities. I think that's the secret and that's the path forward to democratize training in manufacturing and learning. And that, if we can top up with open source and we can get companies and, in the Manufacturing. It works platform that you've got to drive it.

[00:25:42]It's amazing how there are more and more companies getting exciting and really to make the train modems debatable. So I think that's going to be probably the fastest way to reach to the millions of people who work in manufacturing today.

[00:25:54]Trond Arne Undheim, host (v): [00:25:54] It's fascinating as you're speaking, I'm reminded that there obviously has to be a link back to business models with training, because if this was simply a case of saying, we're going to outsource these too.

[00:26:06] Existing universities, or we're going to outsource the training to these new online training providers. And then the problem is solved. First of all right, the incentive wouldn't be there for industry to completely do that. But also the value created would be isolated to the sort of  to these other institutions.

[00:26:25] But I think what you're speaking of is. Some sort of a new dialogue. And there's a combination though, because open sourcing and demo democratizing learning, I guess you're not saying that it necessarily forever has to be, free there's a business model or there are multiple business models that have to be formed around training where there obviously must be incentives for the, for those who create that kind of training.

[00:26:51] Speak to me a little bit more about. The new emerging platforms in Manufacturing. And I was fascinated about what you said about technology and interfaces needing to be more intuitive, historically, that of course hasn't been the case. I'm arguing. Let's see what you think in Manufacturing, right?

[00:27:09] If you're thinking about Manufacturing technologies, they have been fairly complex or at least they have been perceived as complex. What is needed in your mind to structurally. Change that aspect. Is it almost like mandating that any technology on the shop floor should be that easy or is it just a mindset change among those who buy the technology?

[00:27:33] Or is it the technology providers that need to themselves take this more seriously? How can this change?

[00:27:39]Francisco Betti, World Economic Forum: [00:27:39] It's a great question from drone and we may be at the very. At the very beginning of another liter revolution within the manufacturing space itself, would this concept of new platform or platform tools that are emerging.

[00:27:52]And for me, the reason is that when you look at, some of the data we have, when we consulted about why companies can fail in wanting to come to the deployment of new pilots, or to put it in a different way, many companies have been developing great. By loads. And we're able to develop a lot of new use cases, but the failing the implementation phase, because it was a pushback from there, from the shop proprietor, because they were not developing the right way or it's no TC to adopt or not easy enough to adopt.

[00:28:20] So I think that whichever type of platforms and interfaces. That can help create that connection between the technological solution that is going to be deployed on the shop floor and the way in which it will be operationalized and manage on a day-to-day basis, can bring huge benefits to the workers, to the shop floor.

[00:28:38] And I think that's something that we keep hearing from companies is that you notice whenever you give shop for operations technology, That makes the life easier. There's no way that you can get that technology back. There's no way that you can get that use case, get it out of their hands. So I think that eats it out and it leaks about with the concept of democratizing democratizing the access to training and organizing the access to the tool.

[00:29:04] But there are some challenges. I think that,  the things that we too, to overcome to take it to the next level so that it connects back to the concept of open source. So for example, there are many interface or tool that can be powered by AI or at least by, but by big data and analytics.

[00:29:19] Now the only way to train those algorithms and make them super performing is by having to notice. Elapsed volume of data sources. Now that's something that is not happening here to, because you still have companies who are not willing to share their data with the service provider of a specific platform, but they will reach that level in which everyone is comfortable share, sharing the data in the second way, these tools will be taken to a new and unprecedented level.

[00:29:44] And I think that is going to be a mascot. I think that the workers, when you will be hiring or trying to attract talent, if you don't, if you don't have these type of solutions, then it just not be interested in getting the job right. Or may prefer to go to another manufacturing company who does have them.

[00:29:58] I think that it's yeah it's a fascinating topic and we're at the stage in which we are seen. Eh, those solutions being deployed for the first time at scale. So I think that very soon we will see the results of that. And I'm just going to be very

[00:30:10] Trond Arne Undheim, host (v): [00:30:10] excited. Francisco, these are fascinating developments.

[00:30:14] I, I hope that I can tap into your expertise several times and on a regular basis during this podcast, this has been a fascinating discussion and it seems like the gains. Even in just a short year during, or I guess we can not say post COVID, but it is during COVID that a lot of these changes have been enacted and in you've had a central place in coordinating the global response.

[00:30:42] I must say Fen, fascinating developments. Thank you so much.

[00:30:46] Francisco Betti, World Economic Forum: [00:30:46] My pleasure. And I think Trond the next sentence for the Manufacturing community, for the World, Manufacturing community, you to see how we can keep the high innovation. That was great over the past couple of months. I think that's going to be the greatest make sense, but thank you very much Forum for hosting me that real pleasure.

[00:31:06] Trond Arne Undheim, host (v): [00:31:06] You're welcome. You have just listened to episode nine of the Augmented podcast with hosts through on a Undheim. The topic was the fourth industrial revolution post COVID 19. Our guest was Francisco. Betty had advanced manufacturing and production to World Economic Forum in this conversation. We talked about why he got into Manufacturing and how the World Economic Forum works.

[00:31:31] We discussed how the Forum has changed over these past years and how Manufacturing has become the lead topic among the global elite. The Manufacturing platform is now arguably the primary among 17 flagship initiatives at the World Economic Forum. We go deeply. Into the changing business models of Manufacturing and what the next decade holds my takeaway is that Manufacturing has escalated in prominence during COVID-19 and for good reasons, what we could produce decides what we can become.

[00:32:04] The deep digitalization gains that society has made over the past few years. Had to quickly be implemented on the factory floor. Surprisingly, a large part of the industry was ready, but the product process now needs to complete and the results will likely be an entirely new, productive production platform for the world.

[00:32:25] Thanks for listening. If you'd like the shows. Subscribe at Augmented or your preferred podcast, and read us with five stars. If you liked this episode, you might also like episode four on a Renaissance of Manufacturing or episode six on that work of the future. Augmented industry 4.0 podcast.


Francisco Betti Profile Photo

Francisco Betti

Head of Advanced Manufacturing and Production

Francisco joined the World Economic Forum in May 2015. He is an international development professional and currently the Lead of the Future of Production system initiative, which was launched by the World Economic Forum at its Annual Meeting 2016, upon request of world leading governments and companies. The initiative is helping global leaders understand the impact of the Fourth Industrial Revolution and new technologies on production systems. As Lead, Francisco contributes to the development of the strategy of the initiative and is responsible for its implementation. Within the framework of the initiative, Francisco is also establishing and managing long-terms relations with governments.

Prior to joining the World Economic Forum, Francisco worked for PricewaterhouseCoopers SA in Geneva, Switzerland, primarily running management consulting projects with international organizations such as the World Health Organization, The Global Fund to Fight AIDS, Tuberculosis and Malaria, theGAVI Alliance and the Global Polio Eradication Initiative, among others.

Francisco holds a MA in International Relations from the University “Sapienza” of Rome, Italy, and a BA in Political Sciences. Francisco is fluent in English, French, Spanish and Italian.