AI and Big Data Analytics Revolutionizing Industry 5.0: Unlocking the Power of Smart Manufacturing and Beyond

1. Introduction

The combination of AI with Industry 5.0 has the potential to completely transform businesses by igniting widespread, cross-organizational creativity and promoting long-term success. Harnessing the potential of AI becomes vital for opening up new prospects and gaining a competitive edge as we reach the era of Industry 5.0, which emphasizes the harmonious cohabitation of humans and machines. Human creativity, problem-solving skills, and emotional intelligence are valued in Industry 5.0, marking a significant departure from the entirely automated operations of Industry 4.0. That humans have specific abilities and points of view that machines can't imitate is recognized. Nonetheless, artificial intelligence (AI) technologies have great potential in Industry 5.0 for enhancing human capabilities, automating repetitive jobs, and facilitating data-driven decision-making (Adel, 2022).

Figure 1.

Industrial revolution and outcomes

(Source: Author compilation)

In Figure 1 it is mentioned that from industry 0.1 to industry 0.5 major changes seen in the field of technologies. Industry 0.1 started in 18^th century that time steam engines, textiles machinery and factory system was used and slowly it change to industry 0.2 which seen up gradation in electric power. More changes seen in industry 3.0 to 5.0 where human develop advance technologies and machine leaning. Many sectors have significantly benefited from AI's ability to learn, reason, and handle large volumes of data. It has boosted production, saved money, and inspired new goods and services by increasing efficiency, precision, and automation. However, AI's actual value comes in its partnership with human workers, whom it may enhance, allowing them to take on greater complexity and driving collaborative innovation (Xian et al., 2023).This article will explore the many facets of AI's incorporation into Industry 5.0, including its design implications, ethical considerations, and societal impact. Case studies and empirical data will be analyzed to determine what works best when collaborating with AI and what obstacles businesses must overcome (Aheleroff et al., 2022).

Industry 5.0 is a concept that integrates human workers and advanced robotics in manufacturing processes, focusing on sustainable development and societal well-being. It promotes human-robot collaboration, enhancing productivity and job satisfaction. Industry 5.0 emphasizes sustainability, resource management, waste reduction, and environmental conservation through innovative manufacturing technologies like IoT and data analytics (George & George, 2023). It also prioritizes employee well-being, safety, and work-life balance, promoting inclusivity and fairness. By embracing these principles, Industry 5.0 aims to positively impact society, supporting sustainable livelihoods and contributing to community betterment (Tiwari et al., 2022). Industry 5.0 is built upon three fundamental principles: human-centricity, sustainability, and resilience. These principles guide the development and implementation of advanced manufacturing practices in this new era (Ivanov, 2023).

Figure 2.

Industry 5.0 and society

(Source: Author compilation)

In Figure 2 show the relationship between Human-centricity, sustainability and resilience and it play an important role in industry 5.0. Some more point related to industry 5.0 and society mentioned below: