Fourth Industrial Revolution: Opportunities, Challenges, and Proposed Policies

Abstract

In this paper, key elements about the Fourth Industrial Revolution are set under examination. Concerns, challenges, and opportunities related to the Industry 4.0 are analyzed, and specific policies to deal with the challenges and take advantage from the opportunities are proposed. Other issues that are set under consideration in this paper are the rate at which the human labor is threatened by the technological achievements, the main factors that increase workers’ exposure to the risk of automation, the jobs that are more at risk due to automation, and the basic factors that make political intervention necessary in order to deal with the unpredictable consequences of the technological progress such as the threat of a nuclear disaster and a possible income and social inequality gap widening. Finally, a special reference is done for the case of Greece.