Labour and Education Markets in Industry 4.0

Abstract

Abstract Introduction: The current development of the world economy defined as the Fourth industrial revolution (Industry 4.0) is rather determined by a larger social change caused by the interconnection of the physical, virtual, and social worlds. It affects the market of products, production factors, sectors, services, education, research, social systems, the labour market, the education, and specialization, including the legal framework, and the use of digital technologies for production and education purposes. Purpose: The aim of the literature review will be the description and analysis of Industry 4.0, which are digitization and the application of digital technologies, associated with new emerging jobs in the circular economy, artificial intelligence, cloud computing, development, sales of products and services and the focus on human resources, as Industry 4.0 requires new standards regarding Education 4.0. Methods: The study, analysis, evaluation and comparison of selected scientific papers and research reviews of international organizations (European Union, OECD, etc.) related to Industry 4.0 and Education 4.0 resulted in the need for a significant transformation of education and labour markets, because of newly emerging professions demanding new profiles of graduates. Conclusions: Calls for changes in the educational structure and new qualifications will be formulated regarding the Slovak economy by 2030. A successful transition to Industry 4.0 paradigm requires the linkage between industrial policy and educational, scientific, technical and innovation policies.