INDUSTRY 4.0 IN PRACTICE – EXPLORING THE CHALLENGES OF ADOPTION IN THE IT SECTOR
INDUSTRY 4.0 IN PRACTICE – EXPLORING THE CHALLENGES OF ADOPTION IN THE IT SECTOR

Summary/Abstract: Understanding that Industry 4.0 has the potential to accelerate the economic growth, competition, and sustainability, this paper aims to investigate the implementation of these technologies, along with their benefits, costs, and main challenges, within the Information Technology industry sector. A quantitative survey was conducted by using a structured questionnaire designed on a specific set of criteria among reputable IT companies in North Macedonia. Based on the research, a conceptual model was developed for the adoption of new technologies. The research findings indicate that the integration of new technologies with currently used technology represents a crucial challenge, while the lack of a skilled workforce remains a vulnerable issue for the pursuit of new technologies. Moreover, the main benefits of applying the Industry 4.0 concept in the business processes of IT industry organizations are automation and increased productivity.The present study is a contribution to building a knowledge base on what is currently happening in the field of Information Technology with respect to incorporating Industry 4.0 technology into its business models. As the field of Industry 4.0 continues to alter business operations, marking a new era in which digital technologies effortlessly integrate with traditional practices, its influence remains a determinant to success.

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