THE CHALLENGES OF THE NEW INDUSTRIAL POLICY AT THE THRESHOLD OF THE FOURTH INDUSTRIAL REVOLUTION

Abstract

The process of industrialization has gone through three stages that have been described as Industrial Revolution. We are currently at the threshold of the Fourth Industrial Revolution that will fundamentally change the way we live and work. We still do not know how this will unfold exactly, but one thing is clear: the answer to it must be integrated and comprehensive, including all stakeholders in global politics, from the public and private sectors to the academic community and civil society. The speed of current technological discoveries compared to previous industrial revolutions cannot be measured. The breadth and depth of these changes affect the transformation of the overall production and management systems. This paper aims to present the main characteristics of Industry 4.0 and describe how they affect the creation of new industrial policies in countries around the world.