Abstract
The number of theoretical and empirical literature on Industry 4.0 research has seen tremendous growth over the past few years. We seek to identify and classify the popular research topics published on Industry 4.0 in business and economics literature using a novel approach. First, we performed a co-occurrence analysis and found Industry 4.0 to have the strongest connection with innovation, implying the indispensability of innovation for the fourth industrial revolution. Further, we employed LDA-based topic modelling to identify the most frequent terms and labelled eight different topics based on the quantitative value of each term. Finally, we reviewed the relevant literature for each topic identified through the topic modelling process. Our literature review reveals that the concentration of existing literature is model-focussed. This study provides quantitative evidence of frequent occurrences of popular terms. We conclude that future studies should focus more on empirical measurement of the benefits of transiting towards the fourth industrial revolution.
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