Challenges of the Fourth Industrial Revolution for Companies and Employees

The Fourth Industrial Revolution (4IR) represents a challenge for the economy as a whole: it affects all communities and the way individuals as well as companies do their everyday routines, which need to adopt and adapt to it. The risk is for the latter to be inadequate for a changing environment in which it carries out its activities and for the former not possessing the proper new skills and competences. The 4IR represents an opportunity for companies as they can increase their profits and monitor their value chain and workers can enjoy more flexibility at work and avoid monotonous and dangerous tasks. Companies have a determinant role in providing programs that allow for the acquisition and the enhancement of competences and skills to work in their environment. The focus of the present paper is on the challenges companies face in adopting the novelties introduced by this disruptive change. Through the means of a questionnaire, it is investigated what are in order of importance the perceived main strategical barriers that obstacle them from becoming highly digitalized and complete the digitalization process according to owners and employees of Slovak and Italian companies. In addition to that, characteristics of the companies (e.g., dimension and foreign participation) are tested to see whether they affect the digitalization of companies and training practices.