The nonsense of Industry 5.0

Content:

• What is industry 5.0
•  Nonsense
• Sense
• Conclusion

What is industry 5.0

Industry 5.0 marks a people-centric revolution in the industrial landscape, representing the next phase following the advent of Industry 4.0 over the past decade. This evolutionary leap prioritizes human ingenuity and fosters mechanized efficiency, establishing an ecosystem where humans and machines can collaborate more seamlessly to solve problems with unprecedented speed.

The year 2020 witnessed the global spread of the COVID-19 pandemic, causing significant economic disruptions. This tumultuous environment served as fertile ground for the emergence and rapid growth of Industry 5.0. While Industry 4.0 had already laid a foundation in sectors such as manufacturing, logistics, and supply chain management by enabling machines to make data-driven decisions, Industry 5.0 now seeks to transcend boundaries and impact all aspects of business, ranging from marketing and finance to customer service.

Nonsense

Industry 4.0 and 5.0 have become a collection of vague and abstract concepts, devoid of concrete meaning. It’s difficult to discern what they actually represent. Amidst the flurry of stories and content surrounding these buzzwords, one common theme emerges: AI-driven decision making.

However, these terms often feel like marketing gimmicks rather than practical solutions. They are thrown around to create a sense of innovation and progress, but their true value remains elusive. In reality, many organizations are still grappling with outdated IT systems from a decade ago, making the promises of Industry 5.0 seem far-fetched.

The notion of AI driving decision making sounds impressive, but its practical implementation and tangible benefits are often overshadowed by exaggerated claims and hyped narratives. Without a clear understanding of how these technologies can be effectively applied, the promises of Industry 5.0 become nothing more than empty rhetoric.

In the midst of the hype and buzzwords, it’s crucial to question the actual value and practicality of Industry 5.0. Rather than blindly embracing the latest trends, organizations should focus on evaluating their specific needs and determining how emerging technologies can genuinely enhance their operations. Only then can they avoid falling victim to the nonsensical aspects of Industry 5.0 and make informed decisions about their digital transformation journey.

Sense

To make Industry 5.0 meaningful, you need to start by implementing it practically. Ideas and concepts are valuable, but they remain mere concepts if not put into practice. Industry 4.0 was about being accessible, measurable, and digital, taking us from analog to definitive digitalization.

After COVID, three new aspects will become central:

1.    It’s about people and their personal interests. Repetitive tasks should be delegated to robots, while decision-making and creative processes should remain in the hands of humans. Building trust is essential in business interactions. The extent and meaningfulness of automation need to be carefully considered.

2.    The importance of sustainability will force us to make data-driven decisions to genuinely achieve sustainability. Leaving a better planet for future generations is crucial, but it requires setting concrete goals and adhering to them. Otherwise, we risk blindly following trends and hype.

For example, the IMDS process begins with manual data. With a blockchain-based process, information can be automatically enriched. Through QR code scanning, one can determine which mine the granulate came from.

3.    Resilience in processes and markets has become more dynamic. To ensure a company’s survival, it must become resilient. Gartner predicted that three-quarters of the world’s largest companies will no longer hold that status because they fail to embrace new trends.

Creativity in adapting processes and applying them within one’s own environment is crucial. Look for long-lasting strategies for the future and explore how to effectively implement them.

Examples:

In Industry 5.0, resilience will play a significant role, necessitating more digital and efficient methods of management. For instance:

–      Supply chains will become much more dynamic, making reliable delivery more challenging for many market participants. Intelligent use of data is essential, as there are fewer fixed factors.

–      Suppliers and customers will require better forecasting, using algorithms or models to make predictions using machine learning and AI.

Insufficient visibility into forecasts, limited to concrete quotations and orders, can hinder proactive decision-making based on available signals. By improving visibility and looking further ahead, companies can respond more effectively and make better-informed decisions regarding procurement and production.

Conclusion

In conclusion, Industry 5.0 has been marred by vague concepts and marketing gimmicks, lacking clear practicality and tangible benefits. Organizations should prioritize practical implementation, evaluate their specific needs, and focus on people-centricity, sustainability, and resilience. By avoiding hype and embracing a thoughtful approach, Industry 5.0 can bring meaningful progress to the industrial landscape.