The next phase of the Industrial Revolution will come soon, even if most companies struggle to digitise their operations via AI, IoT, cloud computing, and other cutting-edge technology. The rapid advancement of Technology and the shifting integration of human processes will usher in Industry 5.0 in day-to-day operations. The study examines and assesses the commercial implications of what is known as Industry 5.0, or the next Industrial Revolution. As a result, the record of success for the Industry 4.0 business transformation is examined, along with its vulnerabilities and dangers. The first outcome is a study of the business environment that identifies current gaps and derives possibilities and threats, along with recommendations for how the company might best transform itself in the context of the next Industrial Revolution. In addition, there is discussion around the strategy of reintegrating human labourers alongside automated operations in the supply chain. This study examines the possible utilisation of Industry 5.0, including supply chain management (SCM), intelligent healthcare, industrial production, and cloud manufacturing. We then discuss some technologies that will enable the implementation of Industry 5.0. These include the Internet of Everything, digital twins, blockchain Technology, collaborative robotics, edge computing, and networks supporting 6G and beyond.
Katti et al. (Wed,) studied this question.