DIGITAL ERA: TRANSFORMATION AND CHALLENGES OF THE TRANSITION PERIOD FROM "INDUSTRY 4.0" TO "INDUSTRY 5.0"

Keywords: Industry 4.0, Industry 5.0, digital transformation, systein development, digital technologies, harmonious coexistence

Abstract

The article analyses the development of technological and digital transformations in the history of mankind, focusing on the transitional periods from "Industry 4.0" to "Industry 5.0". It is considered how transitions between industrial eras affect the formation of the economy, social structure, and environmental conditions in the world. The focus is on the analysis of the transition from "Industry 4.0", characterized by a high level of automation and the use of cyber-physical systems, to "Industry 5.0", which involves a greater integration of people into the technological process and an emphasis on personalization, sustainable development and social responsibility. The article also reveals how digitalization and technological progress change economic models, create new opportunities for business and society, as well as what challenges they bring. Key trends and innovations affecting the labour market, education, health, and environmental safety are discussed. The need for a harmonious coexistence of technological progress and sustainable development, taking into account the ethical aspects of the introduction of the latest technologies, is emphasized. The article also discusses strategies for adapting to rapid changes, the need to reform the educational system to train personnel capable of working in new conditions, as well as the issue of environmental responsibility of business and governments. The thesis is put forward about the critical role of international cooperation and political will in solving global challenges related to digital transformation. The materials of the article can be used by state bodies to develop strategies for digital transformation, economic policy and educational initiatives, as well as to create a regulatory and legal framework that will promote innovative development and sustainable use of technologies; by business representatives to plan their innovation and digital transformation strategies, adapt to changes in consumer requirements, improve efficiency and implement the principles of sustainable development; educational institutions for the development and adaptation of training programs aimed at training specialists capable of working in the conditions of the digital economy and industry 5.0.

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Appio F., Bröring S., Sick, N., Lee, S., Mora, L. (2023). Editorial Deciphering Convergence: Novel Insights and Future Ideas on Science, Technology, and Industry Convergence. IEEE Transactions on Engineering Management, 70(4), 1389–1401. Available at: https://www.researchgate.net/profile/FrancescoAppio/publication/368190891

Baratta, A., Cimino, A., Longo, F., & Nicoletti, L. (2023). Digital Twin for Human-Robot Collaboration enhancement in manufacturing systems: literature review and direction for future developments. Computers & Industrial Engineering, 109764. Available at: https://www.sciencedirect.com/science/article/pii/S036083522300788X#s0045

Bastone A., Leone D., Schiavone F. (2023). Industrial convergence and digital skills in service industries. An explorative analysis. IEEE Transactions on Engineering Management. Available at: https://ieeexplore.ieee.org/document/10356660

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Grigorescu A., Oprisan, O., Lincaru, C., Pirciog, C. S. (2023). E-Banking Convergence and the Adopter’s Behavior Changing Across EU Countries. SAGE Open, 13(4), 21582440231220455.

Gupta M. (2018) 4 Phases of Digital Evolution during past half century that shook the fortune-500 list. Available at: https://www.linkedin.com/pulse/4-phases-digital-evolution-during-past-half-century-shaked-gupta

Hashmi, M. A., Mo, J. P., & Beckett, R. C. (2021). Transdisciplinary systems approach to realization of digital transformation. Advanced Engineering Informatics, 49, 101316. Available at: https://www.sciencedirect.com/science/article/abs/pii/S1474034621000690

Kosorukov, A. (2021). Advanced technological solutions in the sphere of establishing neuro-digital public administration. Sociodynamics, (6), 53–66.

Kumar, S., Kumar, V., Kumari Bhatt, I., Kumar, S., & Attri, K. (2023). Digital transformation in tourism sector: trends and future perspectives from a bibliometric-content analysis. Journal of Hospitality and Tourism Insights. DOI: https://doi.org/10.1108/JHTI-10-2022-0472

Kurzweil, Ray (1999). The Age of Spiritual Machines: When Computers Exceed Human Intelligence, New York, NY: Penguin Books, ISBN 0-670-88217-8

Laxton R. (2000). The World Wide Web as neural net: Implications for market-driven web enabling. Technological Forecasting and Social Change, 64(1), 55–70. DOI: https://doi.org/10.1016/S0040-1625(99)00073-6

Marzal Miguel-Ángel, Maurizio Vivarelli (2024). “The Convergence of Artificial Intelligence and Digital Skills: A Necessary Space for Digital Education and Education 4.0”. JLIS.It 15 (1):1–15. DOI: https://doi.org/10.36253/jlis.it-566.

Mukti B. (2023). Media Convergence in Technology and Content Aspects in the Digital Communication Era. Formosa Journal of Applied Sciences, 2(10), 2277–2288. Available at: https://journal.formosapublisher.org/index.php/fjas/article/view/6292

Parra M., Marambio C., Ramírez J., Suárez D., Herrera H. (2020). Educational convergence with digital technology: integrating a global society. In HCI International 2020–Late Breaking Posters: 22nd International Conference, HCII 2020, Copenhagen, Denmark, July 19–24, 2020, Proceedings, Part II 22 (pp. 303-310). Springer International Publishing. Available at: https://link.springer.com/book/10.1007/978-3-030-60703-6?page=3#toc

Rindfleisch, A. (2020). The second digital revolution. Marketing Letters, 31, 13–17. Available at: https://link.springer.com/article/10.1007/s11002-019-09509-4

Schlegel D., Kraus, P. (2023), Skills and competencies for digital transformation – a critical analysis in the context of robotic process automation International Journal of Organizational Analysis, Vol. 31 No. 3, pp. 804–822. DOI: https://doi.org/10.1108/IJOA-04-2021-2707

Shaffer D. W., & Clinton, K. A. (2006). Toolforthoughts: Reexamining thinking in the digital age. Mind, Culture, and Activity, 13(4), 283–300. Available at: https://www.tandfonline.com/doi/abs/10.1207/s15327884mca1304_2

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Stashchuk O., Kulynych M., Tesliuk S., Kupyra M., Dorosh V., Vahnovsk, N. (2023). Intelligent financial technologies: convergence, management, synergism and total vectors of influence. Journal of Namibian Studies: History Politics Culture, 34, 1085–1108. DOI: https://doi.org/10.59670/jns.v34i.1193

Thomas, A. (2020). Convergence and digital fusion lead to competitive differentiation. Business Process Management Journal, 26(3), 707–720. DOI: https://doi.org/10.1108/BPMJ-01-2019-0001

UBER 2024 official website. Available at: https://www.uber.com/ua/uk/

Vinogradova, N. V., Popova, T. N., Chehri, A., Burenina, V. I. (2020). SMART technologies as the innovative way of development and the answer to challenges of modern time. In ITM Web of Conferences (Vol. 35, p. 06010). Available at: https://constellation.uqac.ca/id/eprint/7328/1/SMART%20Technologies%20as%20the%20Innovative%20Way%20of.pdf

Wang J., Lee, J. J. (2023). Predicting and Analyzing Technology Convergence for Exploring Technological Opportunities in the Smart Health Industry. Computers & Industrial Engineering, 109352. Available at: https://www.sciencedirect.com/science/article/abs/pii/S0360835223003765

Yao, B., Yang, B., Xu, W., Ji, Z., Zhou, Z., & Wang, L. (2024). Virtual data generation for human intention prediction based on digital modeling of human-robot collaboration. Robotics and Computer-Integrated Manufacturing, 87, 102714. Available at: https://www.sciencedirect.com/science/article/abs/pii/S0736584523001898

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Povitrianyi startap: Airbnb – vid naduvnykh matratsiv do mizhnarodnoho rynku (2023). Available at: https://www.oschadbank.ua/blog/povitryaniy-startap-airbnb-vid-naduvnih-matraciv-do-mizhnarodnogo-rinku

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Published
2024-03-26
How to Cite
Kalinichenko, L. (2024). DIGITAL ERA: TRANSFORMATION AND CHALLENGES OF THE TRANSITION PERIOD FROM "INDUSTRY 4.0" TO "INDUSTRY 5.0". Economy and Society, (61). https://doi.org/10.32782/2524-0072/2024-61-5
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ECONOMICS