Significance of Industry 5.0

摘要

Since the 18th century, there have been at least three industrial revolutions and all of them greatly shaped our current society, economy and the industries. Currently, the world is in the Fourth Industrial Revolution (Industry 4.0). However, the Fifth Industrial Revolution (Industry 5.0) will undoubtedly occur in the proximal future. Experts have focused on three main themes of how Industry 5.0 will influence the world. The first vision focuses on the collaboration between humans and robots in the workforce. The second vision describes a future economy that relies on renewable and sustainable biological resources, known as bioeconomy. And finally, the last vision sees the ability of industry to mass personalize products. These visions will encompass many innovative technologies including, but not limited to, Internet of Things (IoT), Robotics and Artificial Intelligence (AI), Big Data and more. These technologies will define the incoming revolution and consequently be used and applied, by all, in our daily lives. This chapter will discuss the possible impacts caused by Industry 5.0 and its social, economic and industrial implications.