Why Does Technology Policy around Industry 4.0 Continue to Draw its Logic from 1960s Diffusion Models?

In this article we argue that established thinking around the slow adoption of industry 4.0 amongst small and medium manufacturing enterprises (SMEs) in the North Sea Region requires further reflection and re-formulation. It is argued that the diffusion metaphor presently shaping thinking around policy intervention overly focuses attention on firm characteristics and behaviour while focusing too little attention on the specific strategic economic context(s) within which firms make adoption decisions. This article highlights two contextual aspects that shape firm strategic choices: interpretative flexibility and uncertainty about further future technology change.