CONCEPTUAL FRAME WORK OF INDUSTRY 4.0 ITS ADOPTION AND ITS IMPACT OF HUMAN RESOURCE MANAGEMENT AND TALENT MANAGEMENT PRACTICES AT TATA CONSULTANCY SERVICES

Abstract

Globally, the Industry 4.0 market is expected to reach INR 13, 90,647 crores by 2023 (AIMAKPMG-Industry-4.0-report, 2018). India is one of the fastest growing economies of the world and is ready to face global competition by undertaking the “Make in India” programme, by adopting industry 4.0 technology which includes the upcoming trends of Information and Communications Technology (ICT), Data Tools and Analytics, Cyber-Physical systems, Cloud Computing, Robotics and Automation, Artificial Intelligence, Internet of Things (IoT) and Process Digitization across the business value chain thereby creating a “smart factory”. The integration of digital technologies into the business environment, the so-called digitalization, has led to a number of changes in the practices of Human Resource Management (HRM) which include cloud-computing systems, social networking platforms, big data and HR analytics, mobile enabled technologies and coordinating work between machines and men. This paper addresses industry 4.0 its adoption and its impact on Human Resource Management and Talent management practices in select business organizations in India.