UNLOCKING INDUSTRY 5.0 POST-COVID 19 CATASTROPHE

Abstract

A new industrial revolution has erupted amid the Covid-2019 catastrophe. Covid-2019 has certainly pushed the swift development of Industry 4.0 but has also further led to the fast evolution to a new worker-centric style termed Industry 5.0. It can be said firmly that, unlike all the previous four revolutions which were based on technological advancements the new revolution is people centric. The European countries are leading from the front in the implementation of this new revolution to empower employees instead of replacing them with new technologies. Industry 4.0 had been on a boom in the past decade but had a major shortcoming of over-dependence on industrialization. The dire need was felt to collaborate workers with their smart industries for optimization of business productivity. This paper is an attempt to understand the new human-centric revolution termed Industry 5.0and a few challenges being identified to be effective in competitive businesses. Lastly, it is found that the execution of Industry 5.0 could reduce the over-dependence on technology and would emphasize the association between workers and industries.