The Role of Industry 5.0 in Society's Future: Problems, Opportunities, and Human-Centered Solutions

Authors

Saurabh Pitaliya, Dr. Abha Jain Nagawat

Abstract

Industry 5.0, a potential evolution beyond the current Industry 4.0, promises to revolutionize the industrial landscape with advanced technologies and automation. This paper explores the societal implications of Industry 5.0, examining the problems it may pose, the opportunities it presents, and the imperative for human-centered solutions. The problems associated with Industry 5.0 encompass challenges like technological disruption leading to job displacement, concerns about data privacy and security in an increasingly connected world, potential environmental impacts, inequalities in access to benefits and opportunities, escalating cyber threats, the need for robust regulatory and ethical frameworks, and the social acceptance of these transformative changes. A sample size of 280 was gathered using a convenient sampling method, targeting Small and Medium-sized Enterprises (SMEs) responses. Leveraging the power of statistical analysis through SPSS and employing multiple regression techniques, this study delves into the multifaceted impact of Industry 5.0 on SMEs. By examining various factors, this research seeks to uncover the intricate relationship between Industry 5.0, societal progress, and the role of SMEs. The findings are instrumental in providing insights into the complex interplay of factors that influence the future of society in the Industry 5.0 era and in developing human-centered solutions to maximize the benefits and mitigate potential challenges in this dynamic landscape. It emphasizes the importance of policies and practices prioritizing inclusivity, fairness, ethical considerations, and the workforce's well-being. In doing so, it seeks to guide the evolution of Industry 5.0 towards a future where technology is harnessed to benefit society.

Keywords

Industry 5.0 (I 5.0), Societal Implications, Technological Disruption, Data Privacy and Security, Environmental Impact.

The Role of Industry 5.0 in Society's Future: Problems, Opportunities, and Human-Centered Solutions. Saurabh Pitaliya, Dr. Abha Jain Nagawat. 2024. IJIRCT, Volume 10, Issue 3. Pages 1-9. https://www.ijirct.org/viewPaper.php?paperId=2405016