Just as there are two sides to a coin, there are promises and perils of every invention or revolution. In the past, humanity had witnessed the benefits and dark sides of the Industrial Revolutions. The Industry Revolution 4.0 is shaping out to have unprecedented implications on all aspects of human life. During the times of COVID-19, the various technological advancements of Industry 4.0 proved to be a lifeline for not only the global economy but also the social survival of mankind. But the perils of this mass economic and social digitalization are surfacing with time. People have actually started undergoing ‘digital detox’ to cleanse their minds and bodies from the after-effects of too much digital exposure. The dark side of Industry 4.0 does exist but these elements emerge in various contexts with various implications for various stakeholders. The promises and perils of the digital revolution vary for developed and developing countries. The current stage of digital transformation in the economy widely involves new business models and implements modern information technologies (chatbots, predictive analytics, machine learning, blockchain industrial internet of things, etc.). According to the World Economic Forum report, the global market for industrial robotics accounts for US$ 16 billion, with five countries, i.e., China, Japan, South Korea, the United States and Germany, accounting for 74% of sales of such robots. As a result, 30% of jobs in developed and successful developing countries would be automated by the mid-2030s. The global digital divide describes global disparities, primarily between developed and developing countries, regarding access to computing and information technology resources as basic as access to the internet and the opportunities derived from such access. In this era of digitalization, the digital divide may become the new face of economic and social inequality. Pakistan is a developing country that got a significant push towards digitalization during the COVID-19 pandemic but is unable to reap the promises of digitalization. According to the ‘Inclusive Internet Index of the Economist Intelligence Unit (EIU),’ Pakistan ranks at 90th place. Industry 4.0 offers connectivity between a country’s economic sectors based on the availability of real-time and accurate data. At this point, such a transformation is not possible in Pakistan due to the digital literacy and willingness to learn within the country’s public sector. At the heart of a country’s digital divide is an innovation gap due to various flaws in national policies or corporate strategies. Developing countries like Pakistan are struggling with limited resources and infrastructure, lack of government support, absence of public-private partnership, cybersecurity, inability to meet the intensive capital requirement for new technology adoption, etc.