The Main Challenges of Digital Industry Transformation

Abstract

Industry 4.0 can be defined as a collective term for the technologies and concepts of a value chain organization which creates together Cyber-Physical Systems (CPS), the Internet of Things and Internet of Services, the Internet of People (IoP), and the Internet of Energy. It is expected that many companies worldwide and also in Macedonia will dramatically increase their overall level of digitalization. Аt the end of this transformation challenging process, successful industrial companies will become truly digital enterprises, with physical products at the core, augmented by digital interfaces and data-based innovative services. The paper presents the main challenges and needed preparation for such complex undertaking