The research aims to establish the impact of industrial revolutions and resulting technological innovations on the content and structure of professional competencies that an employee should possess at a particular point in time. The author assumes that each subsequent industrial revolution increases the impact on socio-economic processes, causing dramatic changes in almost all areas of human activity. The transformation of professional competencies consists of the simultaneous increase in the technical level and degree of specialization of hard skills and the expansion of the list of soft skills, the possession of which helps professional adaptation and professional growth of an employee. The Fourth Industrial Revolution accelerated the formation of a peculiar superstructure of professional competencies in the form of knowledge, skills, and abilities in the field of digital and related technologies. The theoretical and methodological basis of this research includes the works of the founders of the competence approach and recent publications on the subject. The research revealed that functional competencies are the basis of any model of professional competencies. It has been established that the Fourth Industrial Revolution, the key characteristic of which is digitalization and related technologies, has led to a radical and large-scale transformation of requirements for employee competence. The author assumes that the effective implementation of professional competences is possible only in the case of their complex formation, which makes it possible to achieve an optimal combination of hard skills and soft skills complemented by digital competences at any given time. [For the complete volume, "Lifelong Learning in Central Asia: Relevance of the Fourth Industrial Revolution. Education in the Asia-Pacific Region: Issues, Concerns and Prospects. Volume 72," see ED676016.]