<p>Disruptive technology advancements spurred by the Industrial Revolution have altered production paradigms and customer demand fulfilment throughout history. Industry 5.0 and Society 5.0, two futuristic concepts, have recently attracted more and more attention. The European Commission has announced Industry 5.0, a plan to create a resilient, human-centered, and sustainable European industry. To strike a balance between economic growth and the eradication of social issues in Japanese society, the Japan Cabinet has suggested "Society 5.0."<br /> <br /><strong>Industry 4.0</strong><br /><br />Unquestionably, one of the most significant industrial developments to have emerged in the previous decade is Industry 4.0. The German government's high-tech strategy team first developed Industry 4.0 as a concept at the 2011 Hannover Fair using the terms "Internet of Things" and "Cyber Physical Systems." Industry 4.0 is now acknowledged as a German idea that was embraced on a global scale over the previous decade. Similar strategic goals have been established by other industrialized nations, and significant research has gone into creating and deploying some of the industry 4.0 technologies. The nine key enabling technologies that Industry 4.0 considers to be its pillars are:</p>
<ol style="padding-left: 40px;">
<li>Internet of Things (IoT)</li>
<li>Big Data Analytics</li>
<li>Augmented reality</li>
<li>Simulation</li>
<li>Autonomous Robot</li>
<li>Horizontal and vertical integration</li>
<li>Cyber Security</li>
<li>Cloud Computing</li>
<li>Additive Manufacturing (AM)</li>
</ol>
<p>Industry 4.0 focuses on the paradigm shift brought about by new technology by utilising the efficacy and efficiency of production processes, while less emphasis has been placed on the human factors.<br /><br />However, it is argued that this poses a threat to the long-term growth of society and the human race, which calls for increased focus and work from both academics and business professionals. Although implementing Industry 4.0 within the context of sustainability, circular economy, green supply chain, and other areas can partially address this issue, it is still crucial to have a systematic conceptual development to fill in Industry 4.0's gaps. Thus, the idea of Industry 5.0 is recommended to supplement the current Industry 4.0 due to the significance of human centricity, resilience, and sustainability.<br /> <br /><strong>Industry 5.0</strong><br /><br />The arrival of the Fifth Industrial Revolution has been the subject of sporadic academic initiatives since 2017. With the document titled "Industry 5.0: Towards a Sustainable, Human-centric, and Resilient Future&rdquo;, the European Commission declared the concept of Industry 5.0 in 2017. This is comparable to Industry 4.0, a top-down effort developed by the German government in 2011 in response to the shifting socioeconomic and geopolitical context.<br /><br />Industry 5.0 highlights the need to place the wellbeing of industry employees at the core of the production process. By letting research and innovation drive the shift to a sustainable, human-centric, and resilient industry, Industry 5.0 complements the current Industry 4.0 paradigm. Human-centricity, sustainability, and resilience are the three interlinked key values that make up Industry 5.0.<br /><br />Six enabling technologies have been recognized as part of Industry 5.0.</p>
<ol style="padding-left: 40px;">
<li>Simulation and digital twins for system modelling.</li>
<li>Smart materials with embedded sensors and increased characteristics that are recyclable thanks to bio-inspired technologies.</li>
<li>Technologies for personalized human-machine interaction that connect and integrate the advantages of humans and machines.</li>
<li>Technologies for energy conservation, renewable energy, energy storage, and autonomy.</li>
<li>Artificial intelligence that can be used to act by identifying causalities in complex, dynamic systems.</li>
<li>Technologies for data transport, storage, and analysis that may deal with data and system interoperability.</li>
</ol>
<p>Accordingly, "Industry 5.0" is not just a technology revolution; it also emphasizes societal growth.<br /><br /><strong>Conclusion</strong><br /><br />The EU selected six enabling technologies for Industry 5.0, whereas the Boston Consulting Group listed nine important enabling technologies for Industry 4.0. Although these technologies have different vocabularies, there is a definite overlap. Many of the enabling technologies of Industry 4.0 are thought to be capable of assisting in the achievement of the societal objectives of Industry 5.0 and will undoubtedly be utilized in this regard. However, there are some Industry 5.0 technologies that are more narrowly focused and demand attention, such as bio-inspired technologies and technology for energy efficiency, storage, and renewable energy.<br /><br />The current Industry 4.0 paradigm is not chronologically continued by or replaced by Industry 5.0. The outcome of a forward-looking activity, Industry 5.0, frames the coexistence of industry with new societal trends and requirements. As a result, Industry 5.0 expands and complements the key elements of Industry 4.0.<br /><br />An industry revolution is typically sparked by revolutionary technological advancements that have fundamentally altered the way the industry operates. These modifications have an impact on society and the economy. Others are unintended and undesired, while some are desired and meant. Technology is at the heart of Industry 4.0, much like its predecessors. However, Industry 5.0 is value-driven. <br /><br />Based on the technological developments in Industry 4.0, the newly developed idea of Industry 5.0 has advanced the research frontier from technology-driven to human- and society-driven paradigm changes that could and probably will have a significant impact on many industries.</p>
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