Since the advent of civilization, mankind has always made efforts to get the best out of the available resources and improve living standards and lifestyles. Right from being a nomad to an agriculturalist to an industrialist to a highly intelligent computer genius- the transformation has been gradual and steady. Initially, the change was seen spread over a century but lately, it has picked up the pace. Now, we see breakthroughs happening every few years. Earlier, when revolutions took a century, presently the quantum jump happens every 5 or ten years. The giant strides of technology are fast transforming the world.
|Industrial Revolution Version
|Strategy & Objective
Industry 4.0 reflected the fourth industrial revolution being triggered and enabled by developments in IT. This revolution in the industry focused on innovating technology, such as smart systems, virtualization, automation, robotization, machine learning, Internet of Things, big data analytics, and artificial intelligence among others. While companies and industries are still working out their strategies to implement the fourth revolution, adopting ways for self-advancement the next revolution is already at the doorstep—Industry 5.0.
Industry 4.0 has led to an increased automation of tasks with the penetration of the internet into every aspect of our lives, giving us a digitalized world and cyber-physical systems. But everything comes at a cost. The essence of Industry 4.0 is the use of technology for efficient production, however, it has a negative impact on environmental sustainability. The over-use of resources, poor discharge of waste, and the intensive use of technology, information, and energy leading to air pollution are together making a drastic impact on our environment. In addition, to the above, the unequal distribution of wealth, and inappropriate conditions of work, are also a cause of concern leading to a disproportionate consumption pattern. There is a growing need to improve the industrial ecosystem and to help it become not just technologically better but environmentally and socially sustainable. The approach of more production and more profits has to make way for stability and a circular and sustainable economy.
The concept of Industry 5.0 is far removed from the previous versions in its objectives and strategies. Industry 5.0 defines the perception of the industry that aims beyond efficiency and productivity as the sole goals and enforces the role and the contribution of industry to society. It places the well-being of the worker and the sustainability of the environment at the center of the production process. The latest version of the industrial revolution uses new technologies to provide prosperity above jobs and growth while keeping in mind the production limits of the planet. The Industry 4.0 approach of research and technology-centric automation is complemented in the 5.0 version of specifically putting research and innovation at the service to get a sustainable, human-centric and resilient economy.
All of the above domains will see significant positive growth and thereby increase the overall development of the economic and social ecosystem.
90% of modern industries are profit and volume-oriented. Technological inclination and digitalization of processes as a whole have significantly resulted in high volumes of waste generated within the process of production, and also within the supply chain. The garbage from simple waste bins, up to misuse and misspending of resources - human and physical, has led the world to sit back and think.
This can be successfully managed with the right planning and outlook. Industry 5.0 is the answer to a happy and functional social-economic environment.