INDUSTRY 4.0 AND FUTURE OF HR

The new era of industrial digitalization has called for companies to invest in tools and solutions that allow their processes, machines, employees, and even the products themselves, to be integrated into a single integrated network for data collection, data analysis, the evaluation of company development, and performance improvement. Though computers and robotics were available earlier also, but the opportunities provided by them has been revolutionised. This revolution is based on data and the way in which it can be collected, analysed and used for making right decisions has turned out to be the competitive factor. This Fourth Industrial revolution seeks the help of robots and AI bots so as to get the work done. Though Industry 4.0 creates many opportunities for the companies, there exists many challenges as well for the organizations. Hence organizations should plan the transitions immediately to get the ball going and running. This paper tries to look upon the effect of automation on the employee skill development, complexity of the workspaces and the means to ensure the retention of the jobs and the workforce in this changing dynamic working environment.