Eurointegration tendencies in implementation of industry 4.0 within the scope of European companies

Abstract

The current level of technological development made it possible to predict upcoming changes, the expected commercial availability of breakthrough technologies and the impact they will have on business organization, manufacturing and labor market. The fourth industrial revolution, driven by automation, digital technology and Big Data, is expected to start in a few years. The number one external risk currently perceived by companies is digital disruption. The aim of the paper is to examine the current trends in terms of technological development and workforce transition for the preparedness of companies and labor market for the upcoming changes. The paper reviews the results of research, indicating the dominant orientation of companies, with regards to the expected digital disruption, trends shaping the fourth industrial revolution and strategies for preparation for the upcoming changes.

Keywords

• automation
• labor market
• digital disruption
• fourth industrial revolution