Purpose – The study aims to provide an insight concerning the features of the Indus-try 4.0/Industrial Internet by investigative the advantages and challenges of the phe-nomenon. While the approach is deemed as the subsequent industrial revolution, it will have an impact on the society and the effects are scrutinized as well.

Design/methodology/approach - It is founded on a systematic review of literature and semi-structured experts/researchers’ interviews, who are involved in the Industry4.0 or Industrial Internet subject.

Findings - The Industry 4.0/Industrial Internet is a paradigm and comprises Cyber-Physical-Systems, Internet of Things and Internet of Services. Merging the foregoing concepts by utilizing sensors, Radio Frequency Identification, and connectivity, they will provide the opportunity to pursue the goal of digitalized factories. Accordingly, to nurture and sustain the innovation, aligning the education system and the organiza-tional strategies according the demands of the Industry 4.0/Industrial Internet are thefirst steps that are influenced. These changes with other innovations in the shop floor will have an effect on emerging smart factories, digital pervasiveness, novel occupa-tions, job-losses, emerging novel business models, personalized mass-production, and energy and raw material efficacy.

Research implications - There is a need for a systemic and multidisciplinary research on the Industry 4.0/Industrial Internet subject.Practical implications - The results of this study might provide an academic insight and a framework for the parties who are interested in having a holistic view of the subject and want to join to the early adopters of the Industry 4.0/Industrial Internet.