An analysis on the Industry 4.0 and its labor market effects

Throughout history, there have been processes that have had great effects on humanity. These are important transformation processes started with the agricultural society and then led to industrial revolutions with the spread of production activities. These processes have led to the emergence of four major industrial revolutions to date. In this context, the Industry 4.0 process, which represents the last industrial revolution, draws attention. Industry 4.0 first started to make a name for itself at the Hannover Fair in Germany in 2011. It has cretaed radical changes in many socio-economic areas such as investment, production, consumption, job conditions and education and will continue to do so. These changes are the results of technological improvements humanity was not used to before. In this study, firstly, the development of industrial revolutions and their economic effects are mentioned. Afterwards, the development process of Industry 4.0, which is a digital transformation process, and its effects on the labor market are discussed.