Industry Revolution 4.0

Abstract

The twenty-first century has witnessed the increased importance of digitalization, computerization, and advancements in new technology, which includes artificial intelligence, robotization, and automation in various sectors of Industry 4.0. It becomes a major challenge for the workforce to cope with the pace of advanced technology and artificial intelligence (AI). To compete with the globalized and mechanized world, Industry 4.0 needs to have a competent workforce model to gain a strategic advantage over its competitors. While the number of telecommuters has increased due to globalization and internationalization, supported by 4G data connections, artificial intelligence has automated human resource (HR) functions. Work, the workforce, and the workplace have been reinvented due to chatbots, outsourcing, self-service, and HR service centers. AI has entered the workforce development market, facilitating and quickly closing all HR functions. AI is utilized in HR activities, such as hiring and managing personnel, managing performance and rewards, managing learning and development, retaining high achievers, and motivating employees. The purpose of AI is to rapidly synthesize enormous amounts of data by gathering, analyzing, and processing information in a way that everyone can understand most simply. Based on AI, HR professionals may make quick judgments based on data and arrive at decisions without taking much time. So it is necessary to prepare and develop the workforce with competency that will help the organization meet with and lead the competitive global environment.

Topics & Concepts