o:5512 Digitalization and New Skills in the Workplace en Abstract: Schumpeter's theory of creative destruction for explaining economic development provides a current economic foundation for the explanation of growth in the digital economy. In line with this, entrepreneurship and new knowledge are the main driving forces in the digital economy. The destructive elements of Schumpeter’s philosophy in the short and medium term cannot be ignored. First of all, it can be noticed that has been a lag between the introduction of new ways of doing jobs and labor displacement from the old economy into the digital one. Namely, creative destruction does not immediately diminish the pain of job losses. This is particularly true when workers lack a formal education or skills that would provide them with easy transfer to the new economy. In this context, it is necessary to develop a new form of education that will respond to the new demands of the digital economy. The article was done to determine how new technologies and new demands placed on employees, have led to a redefinition of forms of work and education. Competency-based education can provide, without much difficulty, a transition from school to the workplace. In line with this, there is an opinion that the future of work cannot be imagined without competency-based education. To explain a better idea of this approach to education, we shall discuss the competency-based education definition and compares it to traditional education. Also, the study tries to link education based on competencies with success in the workplace. It has been used in research on existing literature as well as my own research. We can conclude that employers must be confident that graduates have not only a theoretical knowledge of a subject but also a strong ability to apply theories to real-work situations. f workers will need to gain new skills to advance their occupations, as compared to only 6% before the pandemic. In this context, reskilling is a top priority in the near future. This is important because the fourth industrial revolution comes with quite a competitive labor market, where only the best of the best can be employed. Key words: Personalized learning, competency-based education, students, workplace success, digital economy 1552101 1820-4511 2024-10-01T08:40:47.569Z 44 yes 46 Mirjana Radović-Marković Fakultet za ekonomiju i inženjerski menadžment u Novom Sadu 0000-0003-2002-8732 2023 application/pdf 2344757 https://unilib.phaidrabg.rs/o:5512 no yes 16 70 1552253 2023 IPSI Bgd Transactions on Advanced Research 19 1 37 41 2023