Industry Revolution 4.0: Is Indonesia labor market ready or not?
Febry Wijayanti (1,2*), Irina Dmitievna Turgel (2)
1) Department of Development Economics, Universitas Negeri Malang – Indonesia
2) Ural Federal University – Russia
Abstract
Innovation and technological development have an essential role in bringing up the concept of a modern economy, namely the industrial revolution 4.0. The industrial revolution 4.0 aims to omnipresent connectivity people, machines, and real-time data, thus forming new business models and raising the necessity of high technology. Such an era increases the demand for highly skilled and highly educated workers. However, the labor market in Indonesia is dominated by a low educated workforce. Therefore, this study identifying the readiness of the Indonesia labor market in the era of digitalization or the industrial revolution 4.0.
Keywords: Industry 4.0, new technologies, labor market,
Topic: Quality Management and Economic Development