Digitalization and human capital

Purpose – Industry 4.0 is changing the way the world works (the way we communicate, shop, entertain, learn, work and so on). Digitalization, one of the pillars of Industry 4.0, also has an impact on human capital and the labour market. On the one hand, some jobs are being lost and, on the other hand, new jobs arise. Businesses will need highly qualified staff to remain competitive in the market. The purpose of this article is to point out the differences in the perception of the elements of Industry 4.0 and their effects on human capital in different countries. Aim – The article aims to identify, analyse, and compare the results of various research studies that have been carried out abroad in the last five years. Methodology – The article methodology consists of content analysis, comparison, and synthesis of eight research studies from different countries in the world. Findings – The most significant findings are the different readiness of countries for Industry 4.0 (digitalization) and the need to increase the qualification of employees through education (focus on digital knowledge). Limitations of study – This article consists of content analysis and can be a theoretical basis for a specific survey, e. g. in determining the readiness of companies for digitization in Slovakia. Practical implications – Businesses should start investing in human capital through training as soon as possible. It will prevent potential problems when implementing digitalization into business processes. Originality/value – The originality of the article lies in a detailed content analysis of research studies comparing the readiness of Eastern and Western countries for digitization in the last five years.