Attributed to Julie Chapman, Head of Manufacturing and Engineering, Duncan & Toplis
As technology evolves over time, it is crucial that business practices follow suit so they are not left behind by competitors who are more welcoming of digital advancements that can free up valuable resources and company time.
In July 2020, the European Commission introduced the concept of Industry 5.0, an ever-developing theory which can date back to the 18th century, and the industrial revolution. It is the idea that as technology continues to grow and become more capable of completing human tasks, businesses should fi nd ways to introduce the latest technologies into their company.
With the rapid rise of artifi cial intelligence (AI) in recent years, Industry 5.0 has taken full effect in the 2020s, and it paves the way for a new era of industry, manufacturing, and overall business practices. However, it is predominantly the latest stage of an ongoing development that has lasted centuries, rather than being a standalone concept in its own right.
What is industry 5.0 and why is it different from Industry 4.0?
Otherwise known as the fi fth industry revolution, Industry 5.0 is the premise of humanity utilising technology and artifi cial intelligence to enhance the workplace potential. It is also coupled with an increased awareness and onus on sustainability, and largely a broader widening of the horizons covered by industry 4.0.
After being introduced as a concept, Industry 5.0 was offi cially launched in November 2023, focusing on robotics, AI, sustainability and bionics as key metrics. While Industry 4.0 was about big data and cloud computing, Industry 3.0 covered IT systems and automated production, Industry 2.0 looked at mass production and electrical energy, and Industry 1.0 was about mechanical production, as well as water and steam.
Industry 5.0 primarily expands on the steps taken by 4.0, moving with the times as technological capabilities continue to evolve. Industry 4.0 has already had a huge impact on businesses across the globe, particularly around the use of connected technology, and the ways in which companies can optimise their processes and cut costs, while never sacrifi cing on quality.
While the transition towards more fully automated processes and systems could be perceived as an avenue towards job losses, as robots and machinery replace staff members on the production line, Industry 5.0 is very much human-centric and aims to amplify the creative spark inside people. It encourages businesses not to fear the quick expansion of technological advancements, but ensure humans and robotics can work collaboratively.
The European Commission was also keen to ensure the key messaging of Industry 5.0 was centred around societal goals, as well as the wellbeing and optimisation of humans, with the assistance of advanced technology within the workplace. This is a major positive of Industry 5.0 and the vision of those behind it, prioritising current and future staff members and supporting their potential, rather than creating technology to replace them.
Strategy for success
Businesses in the sectors of engineering and manufacturing will likely be some of the great profi teers of Industry 5.0, as the collaboration between humans and machines grows stronger. As processes become more and more automated by ultra-modern facilities and technologies, human staff workers can have more time to focus on creativity, and utilise their skills in a more effi cient manner, while more mundane tasks are managed by machinery.
Leveraging software like AI and the internet of things also helps minimise the risk of errors, either from older technologies or natural human error from staff members having to do administrative tasks. This also has a cost benefi t to it, with full automated processes leading to cheaper operational costs, via reallocation of resources and minimal waste.
But, for companies looking to make the most of what Industry 5.0 means for the business landscape, there is no more effective piece of advice than to embrace it. Technology is evolving all around us, at all times, so it’s a case of getting on board or being left behind at times, particularly in competitive industries where fi ne margins determine your revenues. Getting ahead of the game and familiarising yourself with all the latest tech habits and trends will give you that competitive edge, as well as opening up your business to more innovation as a result.
Get in touch with the Duncan & Toplis team today to explore how your business can be best prepared for Industry 5.0 and its demands.
