ABSTRACT
It is never easy to predict the future. Many experts have been mistaken in their estimates many times. It is important for a business to know about socioeconomic changes and technological advancement that will have an impact on business in coming years. The new era of digitalization, robotics, and artificial intelligence is going to revolutionize the business world. It creates the need for companies to invest in the solutions that integrate their machines, processes, employees, and products in a network of data collection, data analysis and performance improvement and company development. Opportunities provided by computers and robotics have been revolutionized now, case was not same earlier. The base for revolution is data, mechanism of its collection, analysis, and use of information for right decision-making. Right decision-making is an edge for many companies over to others in Industry 4.0 scenario. This fourth Industrial revolution demands the help of robots and AI to ensure the performance in business. This chapter tries to look upon the effect of automation in managing human resources as per new scenario of HR 4.0. Challenges like employee skill development, workspace complexities, retention of jobs, and manpower in changing scenario of Industry.
