Recent technological advances in developing intelligent telecommunication networks, ultra-compact bendable wireless transceiver chips, adaptive wearable sensors and actuators, and secure computing infrastructures along with the progress made in psychology and neuroscience for understanding neurocognitive and computational principles of human behavior combined have paved the way for a new field of research: Tactile Internet with Human-in-the-Loop (TaHiL). This emerging field of transdisciplinary research aims to promote next generation digitalized human-machine interactions in perceived real time. To achieve this goal, mechanisms and principles of human goal-directed multisensory perception and action need to be integrated into technological designs for breakthrough innovations in mobile telecommunication, electronics and materials engineering, as well as computing. This overview highlights key challenges and the frontiers of research in the new field of TaHiL. Revolutionizing the current Internet as a digital infrastructure for sharing visual and auditory information globally, the TaHiL research will enable humans to share tactile and haptic information and thus veridically immerse themselves into virtual, remote, or inaccessible real environments to exchange skills and expertise with other humans or machines for applications in medicine, industry, and the Internet of Skills.