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Prepping for the Future: Reinvention of the Education System 2019 http://ezaposleni.singidunum.ac.rs/rest/sciNaucniRezultati/oai/record/1/7448 https://paksom.cosrec.org/accepted-papers/ M. Dobrojević System of education in Serbia, as well as in many other European countries, is still based upon the more than a century old model, a product of the 2nd Industrial Revolution. Automatization of the industrial production, products standardization, mass production based on the assembly line model and diminishing need for skilled manual labor, established large demand for fork force with limited set of mediocre skills. At the turn of the 20th century, system of education also adopted mass production doctrine in order to produce such work force in needed pace and quantities. However, technological advances, primarily in ICT, computerization and advent of the Internet and network interconnection of production facilities eliminated need for unskilled work force. New technologies and development tempo set as a prerequisite continuous training and permanent education process of already highly specialized workers. In order to follow the pace dictated by emergence of new technologies, or to produce in significant quantities workforce ready to take on modern challenges, existing education system needs a general overhaul. conferenceObject 71 76 Proceedings of the 1st Virtual International Conference Path to a Knowledge Society - Managing Risks and Innovation