Modern society, which has high levels of production, consumption, science, and technology, imposes specific requirements on all participants in the educational process, as well as on learning and teaching methods and materials. These requirements are essential for training specialists who will be needed on the highly competitive job market. Distance learning technologies have become especially needed after the COVID-19 pandemic. Along with the post-industrial society opportunities, these technologies led to the emergence of Education 4.0. This concept uses digital technologies and innovative teaching approaches, both online and offline, to enhance the quality education in line with the needs of the digital age. The transformational transition to Education 4.0 necessitates close collaboration among universities, industries, government, and society, alongside actively using artificial intelligence technology, machine learning, big data, virtual and augmented reality, things internet, and robotics. Alongside fore mentioned digital technologies Education 4.0 is grounded in a competency-oriented approach, which emphasizes the use of blended learning, e-learning, gamification, and simulation technologies. This paper analyzes the main tools and technologies engaged in Education 4.0. It also illustrates the relationship between this subject and the Fourth Industrial Revolution and tries to evaluate the opportunities and risks linked to the implementation of the Education 4.0 concept.