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Building an Enhanced Futuristic Organizational Hub: Journey of Indian Markets From Industry 4.0 to Industry 5.0

Building an Enhanced Futuristic Organizational Hub: Journey of Indian Markets From Industry 4.0 to Industry 5.0

Megha Sharma, Subhash Chander Arora, Vinod Kumar Singh
Copyright: © 2023 |Pages: 11
ISBN13: 9781668467459|ISBN10: 1668467453|ISBN13 Softcover: 9781668467466|EISBN13: 9781668467473
DOI: 10.4018/978-1-6684-6745-9.ch010
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MLA

Sharma, Megha, et al. "Building an Enhanced Futuristic Organizational Hub: Journey of Indian Markets From Industry 4.0 to Industry 5.0." Managing Technology Integration for Human Resources in Industry 5.0, edited by Naman Sharma and Kumar Shalender, IGI Global, 2023, pp. 163-173. https://doi.org/10.4018/978-1-6684-6745-9.ch010

APA

Sharma, M., Arora, S. C., & Singh, V. K. (2023). Building an Enhanced Futuristic Organizational Hub: Journey of Indian Markets From Industry 4.0 to Industry 5.0. In N. Sharma & K. Shalender (Eds.), Managing Technology Integration for Human Resources in Industry 5.0 (pp. 163-173). IGI Global. https://doi.org/10.4018/978-1-6684-6745-9.ch010

Chicago

Sharma, Megha, Subhash Chander Arora, and Vinod Kumar Singh. "Building an Enhanced Futuristic Organizational Hub: Journey of Indian Markets From Industry 4.0 to Industry 5.0." In Managing Technology Integration for Human Resources in Industry 5.0, edited by Naman Sharma and Kumar Shalender, 163-173. Hershey, PA: IGI Global, 2023. https://doi.org/10.4018/978-1-6684-6745-9.ch010

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Abstract

With the growing digitalization, the use of machine learning and artificial intelligence has increased in businesses. Humans have gotten smarter while using and collaborating with such machines and integrated to the invention of Industry 5.0. A company like Tesla also depends on humans to create efficient work from robotic devices. Industry 5.0 objects to creating a balance between the use of machinery and human with the promotional use of technologies. Business owners must transform their strategies to attract customers, suppliers, and global markets. This chapter aims to identify the critical factors that Industry 4.0 lacked and were identified and transited to Industry 5.0. With artificial intelligence, the internet of things, machine learning, and nascent technologies, the human pace of work will subsequently be the essential constituent of the future workplace. Thus, India consists of many small and medium-sized companies and start-ups, and the latest technologies and adoption of Industry 5.0 is essential for Indian business owners.

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