What is Industry 5.0?
Industry 5.0 is focused on strengthening the technologies behind Industry 4.0 (AI, IoT, Big Data, Cloud, etc.) and aims to increase digital transformation by creating greater collaboration between humans and machines: to do this, the efficiency and speed of industrial automation are combined with the creativity, research and innovation and critical thinking skills of humans.
In this perspective, human well-being is placed at the center of the industry to ensure a right response to consumers who require speed and customization thereby increasing the levels of competition for companies.
Industry 4.0 and 5.0 differences
The difference between Industry 5.0 and other industrial revolutions lies in two aspects:
- Previous industrial revolutions were based on a dominant technology (steam engine, assembly line and computer), while Industry 5.0 strengthens existing technologies.
- Industry 4.0, based on the fourth industrial revolution, aimed to put intelligent technologies at the center of production and supply chains, while Industry 5.0 is based on a human centric vision: it is the fifth industrial revolution.
The pillars of Industry 5.0
- Man at the center: industry is human-centred and for this reason human needs and interests are placed at the center of the production process, wondering, contrary to what happened before, what technology can do for workers and not vice versa
- Sustainable industry: this type of industry allows companies to reduce their environmental impact through the development of circular economy processes, the reduction of energy consumption, greenhouse gas emissions and waste and the effort to avoid depletion and degradation of natural resources
- Resilient industry: Industry 5.0 emphasizes the need to work to achieve greater agility and resilience in the production process in order to react appropriately to possible difficulties in times of crisis.
The benefits of Industry 5.0
The advantages of Industry 5.0 are closely linked to its pillars. Benefits that help improve competitiveness include:
- Customer attraction and loyalty: Industry 5.0 makes the working environment more innovative and interesting, helping to increase the satisfaction and loyalty of employees who no longer feel simple machine operators but can, on the contrary, use their creativity
- Sustainability and competitiveness: the pillars on which the Fifth Industrial Revolution is based help companies adopt sustainable practices, making them more attractive to investors, employees and consumers
- Resilience: Industry 5.0, along with the technologies on which it is based, helps companies to develop the agility and resilience they need to be able to react to disruptive changes through data collection, automated risk analysis, and increased security.
Industry 5.0 technologies
Among the technologies used by Industry 5.0 to make the interaction between man and machine more fluid, there are Advanced Analytics, the management and data analysis platforms that allow to collect, Store and analyze customer inputs turning them into insights for manufacturers. Blue BI has always believed in the value of data since Industry 4.0 and it is proud to be the protagonist of this new industrial revolution.
Advanced Analytics answer to the requirement of the companies to preview the future and the potential risks and therefore to have the possibility to react in time to changes obtaining a meaningful competitive advantage. In addition, artificial intelligence and machine learning systems allow to optimize the production process thanks to the understanding and knowledge of customer preferences and needs, thus creating customized products and reducing waste and inefficiency.
Blue BI over the years has developed numerous solutions to address business issues and bring added value to its customers.
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