The purpose of this chapter is to explore the potential of Industry 4.0 enabling technologies towards the creation of a circular economy and better waste management. Obtaining and exploiting the inherent resources of waste is becoming increasingly important. At the same time, through the usage of cyber-physical systems (CPS), the manufacturing industries are witnessing the fourth industrial revolution (Industry 4.0). Different underlying emerging technologies of Industry 4.0 disrupted the way business used to run. Artificial Intelligence (AI), Internet of Things (IoT), Robotics, Augmented Reality (AR), Virtual Reality (VR), Drones, etc. are some of the Industry 4.0 technologies that influence in running the industrial business. The effect of Industry 4.0 is also reflected in the wealth creation from waste. There is limited literature available on the usage of emerging technology to enable a better circular economy. This chapter aims to present how the digital technologies of Industry 4.0, specifically the Industrial Internet of Things (IIoT) can be leveraged to develop a circular economy in an optimized and efficient manner, using AI and data science to help shift the current economic model of ‘take make dispose’ to designing products capable of regeneration or reuse.