The rapid advancements in technology brought about by the Industrial Revolution 4.0 are driving the need for significant changes in education systems worldwide. In this comprehensive review, we have analyzed the effects of Industry 4.0 technologies on education and examined the challenges faced by the Vietnamese education system in embracing innovation. Our search of major databases has yielded 12 relevant studies conducted between 2015 and 2022. The findings reveal that technologies such as artificial intelligence, big data analytics, the Internet of Things, and mobile learning have transformative potential. However, Vietnamese education is currently lagging behind in terms of digital integration and innovation. Challenges exist in areas such as curriculum development, teaching methods, infrastructure, teacher preparedness, and management mechanisms. To address these challenges, we recommend reforms to learning objectives, contents, and methods, as well as the training of teachers in digital competencies. Additionally, upgrading facilities and equipment, decentralizing school governance, and fostering international cooperation are crucial steps. It is imperative for Vietnam to comprehensively prepare for Education 4.0 in order to enhance its human capital and competitiveness. Furthermore, further empirical studies are needed to explore the implementation of educational innovations.