The main characteristic of the Industry 4.0 concept is the increased intelligence of the technologies used. Innovative technologies impose new requirements on products, on production processes and, accordingly, on the requirements design methodology. This article discusses the key technologies specific to the Industry 4.0 paradigm, their associated key requirements, the impact of these requirements on the composition of requirements engineering documentation, and the key business analyst skills required to work within the Industry 4.0 concept. The object of the study is the impact of the key technologies of Industry 4.0 on the process of forming and changing product requirements. The research method is the analysis of the available scientific literature on this issue and the construction of a hypothesis on this basis. As a result of the study, key product requirements were identified in terms of Internet of Things (IoT) technologies, and the necessary skills for business analysts to work with these requirements were formulated.