SOCIO-ECONOMIC ASPECTS OF INDUSTRY 4.0
SOCIO-ECONOMIC ASPECTS OF INDUSTRY 4.0

Author(s): Jiří Vacek
Subject(s): Social Sciences, Economy
Published by: Vysoká škola ekonomická v Praze
Keywords: Industry 4.0; automation; structure of jobs; skills and competencies; intellectual capital
Summary/Abstract: Recently, the number of publications about Industry 4.0 has been steeply increasing. However, the concept of “Industry 4.0” is primarily being explored from a technical point of view – robotics, Internet of things, big data, smart objects, smart factories. There has been very little inquiry into the question of what it means for people and the society as a whole. Increasing digitisation will not only have an enormous impact on machines, factories and sectors, but on societies, economics and management as well. That is why we must look more closely at these aspects. Where are the risks – but also where are the opportunities for social innovation and progress? Industry 4.0 still has not entered the mainstream academic research, it is much more frequently treated in reports of leading consultancies as McKinsey, Deloitte, Accenture, BCG, World Bank and recently it became one of the main topics of discussion at the WEF 2016. However, as it can profoundly affect the future of jobs, management, education, and social systems, academic research in related disciplines should not stay aside and supplement the activities of technically oriented colleagues

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