Risks of Industry 4.0 and Digitization

Abstract

Industry 4.0 is considered as the digital transformation of manufacturing. Changes due to digitalization are running at a continuously accelerating speed, developments change our whole world, and completely changing the production and labor markets. An overview of the labor market effect of overall digitalization is provided. Predictions and forecasts for labor market phenomena due to robotization are given in terms of overall changes in employment. Changes in employment structure are influenced by several factors of computerizability of the individual work activities of various jobs.

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