Abstract
As entirely new age of intelligent production and productivity has begun as a result of the convergence of Artificial Intelligence (AI) and Industry 5.0. As an extension of Industry 4.0, Industry 5.0 aims to bridge the divide between technology and human- centricity by fusing the productivity of automation and digitalization with the creativity and problem -solving skills of people. AI and Industry 5.0 have several roles such as data analysis and insight, supply chain optimization, Quality Control and Inspection etc.…. AI and Industry 5.0 also have several impacts in the industries such as Economic Growth and Competitiveness, Enhanced Safety and Security, Data- Driven Decision Making etc… Some of the challenges faced by AI and Industry 5.0 are Data security, Workforce adaptation, Regulation and policy. We can conclude that, Industry 5.0 and AI enable firms to grow in agility, innovation, and customer focus while establishing a harmonious interaction between technological potential and human potential.
Key Words: Data analysis and insight, Safety and Security, Digitalization, Data-Driven Decision Making.
In conclusion, Industry 5.0 and AI have the power to transform businesses and society by enabling previously unheard-of levels of creativity, personalization, and efficiency. Higher productivity, better decision-making, and optimized processes as a result of the integration of AI into many industries might result in higher competitiveness and economic growth. The extensive use of AI, however, also raises moral and cultural issues. The importance of ensuring data privacy, correcting algorithmic bias, and minimizing possible job displacement must all be carefully taken into account. To fully use the benefits of AI while ensuring the welfare of people and society, stakeholders must work together to build responsible AI initiatives, promote transparency, and preserve ethical norms. In the future, a fair and inclusive approach to AI and Industry 5.0 is critical, where technical breakthroughs are in line with moral principles, environmental sustainability, and the greater good. By doing this, we can maximize AI’s beneficial effects on various sectors of society as well as local and global populations.