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This Research paper focuses on identifying & countering the Challenges of Industry 4.0. Although Industry 4.0 has been a boom of the century, the underlying challenges still need to evaluated and counter measure must be taken in order to have long-term goals satisfied. Therefore, first part of the research focuses on identifying the key challenges and then second part of the research has been dedicated to counter measure. The research contains serious of interview ranging from Industry 4.0 experts to end user of these technologies to validate the identified challenges and counter measure. Thus, the research has a practically backed evidence and real time problem scenarios have been well documented through the course of research. Therefore, this research points out six quantified and qualified Industry 4.0 challenge cluster. They are 1. Economic Challenges, 2. Technical Challenges, 3. Competency Challenges, 4. Cultural Challenges, 5. Managerial Challenges 6. Collaborative challenges. Thus, the identified counter measure falls into four areas of system of Innovation. They are 1. Role of Central Government 2. Co-operation of State Universities and Industries 3. Role of State Government in Promoting Technology Fairs 4. Role of Company Management and Unions. This research also a Supply Chain Limitation which must be considered. Therefore, the research serves as a base guideline for companies in knowing the challenges and provides a direction for the mitigating these challenges through System of Innovation.

The introduction of information technology into all aspects of our lives has brought forth qualitative and quantitative changes on such a large scale that this process has come to be known as the Fourth Industrial Revolution, or Industry 4.0. The aim of this paper is to fill in the gaps and provide an overview of studies dealing with Industry 4.0 from the business and economic perspectives. A scoping review is performed regarding business, microeconomic and macroeconomic economic problems. Four investigators performed a literature search of the Web of Science, Scopus, and Science Direct. The selected period spanned from 2014 to 2018, and the following keywords were used for the search: Industry 4.0, economics, economic development, production economics, and financial sector. A total of 2275 results were returned. In all, 67 full papers were screened. Results obtained from the relevant studies were, furthermore, divided into the following categories: work and skills development; economy growth and macroeconomic aspect; sustainability; intelligent manufacturing; policy; and change in business processes. Findings show that the aspects of work and skills development, smart technology adoption, intelligent manufacturing, and digitalization are very well described. The government and its policies usually play the role of a needed supportive element. Usually studies lack a coherent view of the topic in question and solve partial questions.

The analysis of the fourth industrial revolution outlines the structural changes arising in industries, as described by firm managers, scientists and consultants, as well as the literature on the fourth industrial revolution. It raises the need for new industrial policies, which are discussed in this paper. Structural changes arising in specific industries might have effects on other industries (due to complementarities) and on the whole economic system. Industrial policy must therefore be based on an analysis of productive processes, but also on analyses of the interactions between different productive processes. Favoring structural changes in one sector may have positive or negative impacts on other sectors; it may also impact upon the labour market, changing the skill required in the labour force, as well as wages. We argue that industrial policies are particularly needed when the economy experiences deep transformations, such as industrial revolutions. The advent of digital globalization is primarily driven by the technological progress induced by the fourth industrial revolution, but we believe that industrial revolutions are the result of complex transformations of the economy, the society and culture. We define industrial policy in a broad manner, as a set of actions aimed to favor structural changes in industries and orientating industrial development in specific directions. Such actions regard innovation, trade, intellectual property rights and antitrust; they also regard labour, because firms cannot upgrade or be created if they do not find the human capital they need for their operations. Looking at providing appropriate human capital means considering social policies, labour contracts and measures to favor the participation in the labour force. It also means considering education and training, because they determine the types of skills people will be able to develop.

Digitalisierung und Industrie 4.0 sind spätestens seit 2011 ausgerufen und werden in den Unternehmen umgesetzt. Die Einführung erfordert eine intensive Auseinandersetzung mit der Thematik. Erste Erfolge sind oft in Form von einzelnen Pilotprojekten schnell umgesetzt. Das flächendeckende Ausrollen ist jedoch oft deutlich schwerer zu realisieren. Dieser Beitrag möchte ein Blitzlicht auf die aktuelle Umsetzung werfen, 11 Jahre nach dem Ausrufen von Industrie 4.0.

Digitalization and Industry 4.0 have been proclaimed since 2011 at the latest and are being implemented in companies. The introduction requires an intensive examination of the topic. Initial successes are often quickly implemented in the form of individual pilot projects. However, it is often much more difficult to roll out. The article would like to throw a spotlight on the current implementation, 11 years after the proclamation of Industry 4.0.

Foundation Concepts for Industry 4.0 -- PROSPECTIVE APPLICATION OF BLOCKCHAIN IN MUTUAL FUND INDUSTRY -- Waste Management 4.0- An Industry 4.0 Approach to the Future Waste Management System -- Artificial Intelligence Powered Automation for Industry 4.0 -- To Trust or not to Trust Cybots: Ethical Dilemmas in the Posthuman Organization -- Business Sustainability and Growth in Journey of Industry 4.0- A Case Study -- Challenges and opportunities for mutual fund investment and the role of industry 4.0 to recommend the individual for speculation -- Blockchain Based Secure Manufacturing Network Management for Industry 4.0 -- AIC Algorithm for Using Intention of Online Food Delivery Services in Industry 4.0: Evidence from Vietnam -- Design and Automation of Hybrid Quadruped Mobile Robot for Industry 4.0 Implementation -- Hydrogel based on alginate as an ink in Additive Manufacturing technology - processing methods and printability enhancement -- Industry 4.0 Internet of Medical Things Enabled Cost Effective Secure Smart Patient Care Medicine Pouch -- 3D PRINTING PATHWAYS FOR SUSTAINABLE MANUFACTURING -- IMPLEMENTING DIGITAL AGE EXPERIENCE MARKETING TO MAKE CUSTOMER RELATIONS MORE SUSTAINABLE -- 3D Printing: A Game Changer for Indian MSME Sector in Industry 4.0 -- ROLE OF 3D PRINTING IN THE PHARMACEUTICAL INDUSTRY.

Industry 4.0 from the supply chain perspective : case study in the food sector -- Digital transformation in the utilities industry : industry 4.0 and the smart network water -- A model for success in agribusiness -- Internet of things -- The role of universities in industry 4.0 era : entrepreneurship and innovation perspectives -- Smart gateways for iot-factory integration: trends and use case -- The logistic model based on positions (LoMoBaP [MoLoBaC]) & industry 4.0 -- Industry 4.0 developments in manufacturing industries -- Innovation indicators in industry 4.0B : a study of novel approaches and opportunities -- Enterprise integration with the structural services architectural style

Since its first appearance in April 2011, the term Industry 4.0 has become synonymous with the production of the future. Nearly all industrialized countries around the globe have set up research programs and industry support projects, and they encourage SMEs and government agencies to actively shape those developments and keep their industries competitive. Today, the Industry 4.0 has already arrived in factories, at least in the highly developed regions of the world. However, so far, most Industry 4.0 activities can be observed in the field of smart control systems. New technologies appear increasingly faster and find their application in production environments. TSN/SDN Ethernet will offer a complete compatible internet communication standard with real-time capabilities. Nevertheless, appropriate protocols for its application and interoperability are still a work in progress; they are called Asset Administration Shells and define a complete set of communication and service standards to easily connect any device from any supplier worldwide to a factory network. In conclusion, industrialized countries are not only suppliers of technologies to the rest of the world, they should also accept their responsibility to help less industrialized regions to find and implement their future business models in an interconnected world.