THE CHALLENGES AND OPPORTUNITIES OF INDUSTRY 4.0-A REVIEW

Abstract

The Fourth Industrial Revolution, most encouraging industrial wave puts remarkable challenges and opportunities for organizations from the industrial, managerial and operational viewpoint. The achievement of the most recent innovations of Industry 4.0 and the change of creation methodology includes surprising challenges and opportunities in the ground of work and future manufacturing procedures require novel capabilities (Horváth, and Szabó, 2019). Sometimes the organizations face tremendous difficulties to identify the challenges as well as the opportunities of Industry 4.0. Hence, the challenges and opportunities of Industry 4.0 should be recognized appropriately, assessed precisely and afterward should be executed consequently. With the expectation of understanding the aspects of challenges and opportunities of Industry 4.0 as a disruptive industrial issue and to contribute the existing literature an arranged review strategy was executed to assemble the literature.