Effects of Industry 4.0 on Human Capital and Future of Jobs

Abstract

The ever-increasing digitalization, automation and robotization of business processes will lead to a proliferation of workplaces with a high level of complexity, which will lead to the need for continuous staff training. The challenge for businesses will be able to adapt to changing environmental conditions to remain competitive. Despite increasing attention being paid to the job and skills changes brought about by Industry 4.0, research in this area is still scarce. The aim of the present theoretical research is therefore to introduce the issue of Industry 4.0, and its impact on the workforce and the future of jobs. Through the available domestic and foreign literature, we have provided a theoretical overview of recent studies, that address the issue of the impact of Industry 4.0 on the labor market. Findings point to trends in the disappearance of certain jobs and the creation of new jobs, that concept of Industry 4.0 offers in the form of opportunities. Our search also resulted in a summary of the worker's competences, which meet the requirements of the Industry 4.0 era, as well as a set of key solutions for businesses in human resource management.