Industry　4.0　is　anticipated　to　revolutionize　the　manufacturing　sector　through　a　digital　transformation.　With　this　transformation,　many　benefits　are　expected,　such　as　the　automation　and　decentralization　of　production　processes.　Nevertheless,　enterprises　face　considerable　risks　upon　successful　implementation　of　Industry　4.0.　The　uncertainties　regarding　these　risks　are　currently　hindering　enterprises’　implementation　of　Industry　4.0.　Although　several　studies　have　investigated　the　adoption　of　Industry　4.0-related　technologies,　far　too　little　attention　has　been　devoted　to　identifying　and　analyzing　the　risk　factors　associated　with　the　adoption　of　these　technologies　in　manufacturing,　especially　in　Irish　industry.　Therefore,　this　study　contributes　to　the　existing　knowledge　by　proposing　a　systematic　approach　to　identifying　and　ranking　these　risk　factors　along　with　recommending　policies　to　mitigate　the　highest　risks.　Fourteen　risk　factors　are　identified,　and　the　opinions　of　12　industry　experts　across　the　Irish　manufacturing　sector　are　used　to　rank　these　risk　factors　using　an　adjusted　best-worst　method.　The　lack　of　standards　and　lack　of　methodological　approaches　was　the　highest-ranking　risk　factor,　with　the　risk　to　capital　investment,　the　lack　of　talent,　the　uncertainty　in　economic　benefits　and　the　potential　delay　to　the　manufacturing　process　ranking　in　the　top　5.　Policy　recommendations　to　mitigate　the　highest-ranking　risks　are　proposed　based　on　an　analysis　of　the　Irish　government＇s　current　Industry　4.0　policy.　Governments　should　aim　to　assist　industries　in　establishing　comprehensive　standards　to　increase　the　rate　of　successful　Industry　4.0　implementation.　©　2021　Elsevier　Inc.