Contemporary Innovation in Management 114 Krithika.J & Udaya Mohan Devadas Industrial Revolution 4.0 and the Future of HRM K. L. N. K. Gunathunge 1 & K. G. P. Lakmal 2 1 Assistant Lecturer, Department of Commerce and Financial Management, Faculty of Commerce and Management Studies, University of Kelaniya, Sri Lanka 2 Assistant Lecturer, Department of Commerce and Financial Management, Faculty of Commerce and Management Studies, University of Kelaniya, Sri Lanka Introduction From the beginning of civilization, technological development has been the driving factor behind the advancement of human society. Technological evolution has four significant improvements, known as industrial revolutions, which occurred because of inventions. The steam engine, followed by electricity, digitalization, and the use of information technology, culminated in significant breakthroughs in the Information and Communications Technologies (ICT) industry towards the end of the 20th century, along with the arrival and widespread use of the Internet, which accompanied in the Fourth Industrial Revolution (4IR). Many socio-economic, political, and technological changes have begun in the fourth industrial revolution (Lasi et al., 2014) ), also known as Industry 4.0 (Burmeister et al., 2015). As mentioned, advanced technologies, which are the base of Industry 4.0, contain the Internet of Things (IoT), artificial intelligence, augmented and virtual reality, robotics, big data analysis, 3D printing, and cloud computing, etc. (Roblek et al., 2017; Rojko, 2017). It aims at interconnectivity, digitalization, automation, and real-time data to create a well-connected environment for organizations that fosters innovation, enhances efficiency and effectiveness, and generates new opportunities. (Kohnova et al., 2019). Increasing economic efficiency, increasing labor productivity, flexibility and intelligence, lowering manufacturing costs, and improving returns on investments can be identified as the advantages of the industrial revolution 4.0. Industry 4.0 will transform every phase of the process, from production to distribution, distribution to marketing, and will encompass radical innovations within the organization. Human Resource Management is another area that is being affected by the