The paper investigates main challenges in business and society relationships caused by the fourth industrial revolution technologies. Nowadays, the fourth industrial revolution is a popular topic of conversation across many people and organizations worldwide, which is accompanied with an increasing number of sources describing tremendous benefits of the fourth industrial revolution technologies implementation in companies' value chains. The major technologies include additive manufacturing, virtual and augmented realities, artificial intelligence, big data, cloud computing, Internet of things, cryptography and blockchain, and autonomous robots. Despite this, there is a growing concern among international business and governmental leaders on the effects of the fourth industrial revolution on the medium and long-term future of the business and society all over the world. Still there is no systematization of the major risks that new technologies bring into the society's life as well as corresponding challenges caused by them within business and society relationships. The paper addresses this research gap focusing on new relationship challenges that arise between business and its stakeholders due to the fourth industrial revolution. The paper results imply to be used for further management decisions in preventing and resolving potential conflicts, reducing risks, developing relationship assets and creating shared value.