The Next Industrial Revolution Industry 5.0 - The Human Focused Solutions for Sustainable Growth and Development

Abstract

Industry 5.0 also known as the fifth Industrial Revolution, is a new and emerging phase of Industrialization tat sees humans working alongside advanced technology and A.I powered robots to enhance workplace processes.

while the most companies are still struggling with the digitalization of their business through the integration of artificial intelligence (AI), Internet of Things(IOT), cloud technologies and further developed technology the next step of Industrial Revolution appears in the nearest future.

Industry 5.0 will step into the future daily business due to the velocity of further technological development and changing human process integration. In this context, the paper analyses and evaluate the business impact of the next industrial Revolution, so call industry 5.0.  Therefore   the actual industry 4.0 business transformation record of accomplishment as well as weakness and threats are analyzed by interviews with experts and business representatives.  The first result is the business situation analysis to identify existing gabs with the derivation of opportunities and threats as well as suggestions for the business how to transform best in times of the next Industrial Revolution.  Furthermore, the approach of integrate human workers back into the supply chain next to automated processes is debated.  This paper underlines the assumption that companies did not recognize, yet the next industrial Revolution because of the lack of entrepreneurship and transformation capacity related to industry 4.0.

Industry 5.0 blows the whistle on global industrial transformation.  It aims to place humans' well -being at the center of manufacturing systems, thereby achieving social goals beyond prosperity robustly for the sustainable development of all humanity.  However, the current exploration of Industry 5.0 is still in its infancy where research findings are relatively scarce and little systematic. This paper first reviews the evolutionary vein of Industry 5.0 and three leading characteristics of industry 5.0: human - centricity, sustainability and res.

The Fifth industrial (IR5.0) will see the transformation of the manufacturing sector that can ignite the industrial revolution/ IR 5.0 should ideally be the evolution of the modern manufacturing process in order to allow man and to perform work hand-in-hand.