The development and implementation of the last technological progresses is driving an evolution in different areas, making many of our daily tasks easier. In the production field the progress of new technological systems such as Cyber-­Physical Systems or Internet of Things is helping to create the so-called ‘factories of the future’, also known as Smart Factories. Some governmental initiatives developed in several countries are encouraging the implementation of these technologies in industry. This paper describes the main characteristics of Cyber-Physical Systems, Internet of Things and Smart Factories, as well as clears up the relation established between these concepts. It also explains the main objectives of the Industry 4.0 initiative, developed by the German government; and takes also an in-­ depth look at the Advanced Manufacturing Partnership (AMP) initiative, promoted by the U.E government to bring the country back to a leadership position in manufacturing activities.

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