Components

Industry 5
Industry 5

Industry 5.0

Article
April 29, 2020
Topic: 
Economics, Entrepreneurship, Strategy & General Management
Keywords: 
industry, Personalized Message, Industrial Revelation, Internet of Things, strategic management
Area of Study: 
Business
Target Audience: 
Graduate Students, Undergraduate Students, Other Audience
Price: 
Pay what you want (Suggested amount is $15.00)
Average rating: 
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Within the modular structured smart factories, cyber-physical systems monitor physical processes, create a virtual copy of the physical world and make decentralized decisions. Over the Internet of Things, cyber-physical systems communicate and cooperate with each other and with humans in real time, and via the Internet of Services, both internal and cross-organizational services are offered and used by participants of the value chain. Although Industry 4.0 still has not scaled up to cover a significant percentage of manufacturing setups, its vision of near total automation and the promise of resulting cost savings has clearly captured the industry’s imagination. The connected automation technologies that form the backbone of Industry 4.0 are seeing widespread and growing deployment. And they are making important differences in the manufacture of many types of products and, in industries like healthcare, even the provision of services.

it seems that there are still some different visions about a common definition of the future 5.0 industry. But maybe everyone agrees that it is a powerful tool that seeks to reach personalized, low-cost products by leading humans to collaborative robots that are linked to large databases.