From Industry 4.0 to Industry 5.0

Abstract

The transformation era of Industry 5.0 opens up exciting possibilities for the circular economy through minimizing waste, promoting resource efficiency, and maximizing the value of materials. However, the seamless integration of Internet of Things (IoT) and artificial intelligence (AI) optimize resource allocation, track product life cycle, and enhance waste management processes with real-time data collection and analysis. By embracing Industry 5.0, businesses implement circular principles such as on-demand production, circular design, and modular systems, enabling the creation of easily repairable, upgradable, and recyclable products. Owing to these possibilities, this chapter aims to systematically review the extensive collaboration of Industry 5.0 with the circular economy by a model extending direct linkage between production processes and information flow. The model also incorporates the current research trends in production process optimization concerning robots, IoT systems, AI, and information network infrastructure. Through leveraging advanced technologies and reshaping industrial processes, the pathways towards sustainable production, consumption, and resource utilization would enable precise decision-making, minimizing resource wastage and facilitating efficient material reuse, reduction, and recycling. By embracing this unique convergence, this chapter might create a prosperous future where economic growth goes hand in hand with environmental stewardship, fostering a circular economy that benefits both present and future generations.