Economic and technological developments that took place the last 30 years have resulted in a new form of industrial revolution, widely known as Industry 4.0 (I4.0). Researchers and professionals worldwide try to foresee and contribute to its development, while the COVID-19 pandemic acted as an accelerator and revealed that changes arising under Industry 4.0 will affect a wide variety of working-life aspects. Among these aspects, skills and competencies needed under I4.0 are expected to change. The current chapter uses the European Skills, Competences, Qualifications, and Occupations (ESCO) database to identify which are the most valuable skills and competencies in the time being, when European businesses are taking part in the so-called digital transformation, part of Industry's 4.0 evolution. The most significant skills and competencies will be presented alongside with an analysis on existing research on the relationship between I4.0 and new skills/competencies needed.