Companies around the world are at risk from what is known as Industry 4.0 or digitisation, according to Laurence Boon, chief economist of the Organisation for Economic Development (OECD). Writing in the latest edition of the OECD Economic Outlook, Boon says “digitalisation is transforming finance, business models and value chains, through three main channels: investment, skills and trade. “So far, only a small fraction of businesses appear to have successfully harnessed the strong productivity potential of digital technologies, which partly explains why digitalisation has been unable to offset other headwinds on aggregate productivity. “Reaping the full benefits of digital technologies requires complementary investments in computer software and databases, R&D, management skills and training, which remains a challenge for too many firms”. Governments are also not adapting fast enough, particularly for cross-border trade, he says.