## 1 Introduction
However, the implementation of new technologies can overload technological systems and cause digital risks. Therefore, the effects of Industry 4.0 will only be fully effective when all possible risks are identified and addressed. The success of an organization and its competitiveness in the era of Industry 4.0 will depend on the minimization of risks and social, technical, and environmental challenges [2; 16; 17]. Based on the above, this study aims to develop a theoretical model for the digital risks arising from the implementation of Industry 4.0 (TMR-I4.0). This study is justified by the need to develop a theoretical model to categorize the risks that may arise from the implementation of Industry 4.0. Once identified, these risks can have a smaller impact on various spheres, such as social, economic, technological, environmental, cultural, and educational spheres, among others. Although the concept of Industry 4.0 is widely disseminated today, its implementation remains a major challenge for many organizations, especially regarding the understanding of the risks and impacts caused by the driving technologies of Industry 4.0 [18]. Based on a systematic literature review, various studies on the risks associated with Industry 4.0 were identified [2; 10; 12; 14; 19; 20; 21; 22; 23]. The study by [24], in turn, investigates the essential aspects of implementing risk management using the PDCA cycle model. Some studies on risk management focus on the supply chain [25; 26; 27; 28]. Other studies investigate the risks of implementing Industry 4.0; however, many concentrate solely on the risks of cyberattacks and cybersecurity [28; 29; 30; 31; 32]. Other studies, such as those by [33; 34], examine the relationship between Industry 4.0 risks and job loss and changes in the organizational environment. Additionally, some works address the most significant risks for new business models [35]. In the context of Industry 4.0, many studies discuss the ethical risks caused by the Fourth Industrial Revolution, as evidenced by the works of [36; 37]. Small and MediumEnterprises (SMEs) also receive attention regarding the development and implementation of Industry 4.0 and their respective risks, as in the studies by [38; 39; 40]. Finally, some studies investigate the risks of Industry 4.0, classifying them into dimensions such as economic, geopolitical, financial, technological, social, and natural [13; 41; 42; 43]. Therefore, although several studies address the risks of Industry 4.0, none of them present a significant list of mapped and categorized risks nor mention the impacts that these risks can cause. This context reveals an interesting research gap to be explored and developed, in which the mapped risks can be quantified and evaluated, demonstrating that this study goes beyond the state of the art. From the mapping and understanding of these risks, an instrument for measurement and analysis can be developed. Considering the business environment, this study will be used as a strategic tool for business managers to identify risks and prepare to face the challenges posed by the advancement of Industry 4.0 in the short and long term. This way, it will be possible to assess its possible effects in various spheres, such as social, environmental, economic, technological, cultural, organizational, educational, human, and political-legal. The digital risks arising from the implementation of Industry 4.0 (TMR-I4.0) technologies can impact the future of manufacturing, as well as influence the future of the use of these technologies, their application, and functionality. Therefore, it is necessary to understand them to ensure their correct and effective use. The remainder of this paper is organized as follows: Section 2 provides a contextualization of Industry 4.0, outlining the four industrial revolutions and focusing on the current Industry 4.0.