Technological Transcends: Impact of Industrial 4.0 on Human Resource Functions

Abstract

Industries are the key contributors to the development of an economy. The technological progression and transition have changed the performance of these industries significantly. The fourth industrial revolution in the area of Cyber Physical Systems (CPS), the Internet of Things (IoT), Machine learning (ML), autonomous agents and things (Robotics), Cloud computing, Cognitive computing and Artificial Intelligence (AI), has impacted significantly over the organizational functioning. The influence of industrial 4.0 has been observed in almost all the functional areas of businesses including the human resource management function. In the era of 4.0, human resource department has seen the digital transformation on various Human Resource (HR) functions like recruitment, onboarding, learning and development, Performance management, social sharing and compensation and benefits. Technological transcends in the area of HR has made a tremendous transformation in managing the organization workforce. The study is a conceptual effort which sheds light on the impact of 4th industrial revolution over the various functions of the Human Resource Management.