The path to Industry 5.0 is based on your data and artificial intelligence.
Data is fundamental in Industry 5.0.
Industries that rely on physical assets, such as construction, manufacturing, and energy services, are still in the process of fully leveraging the advantages of the Fourth Industrial Revolution, known as Industry 4.0. However, the data currently being collected will lay the foundation for the next phase, which is Industry 5.0.
The concept of Industry 4.0 began to take shape in the mid-2010s when Klaus Schwab introduced the term. The revolution was driven by digitalization and digital transformation, characterized by the use of connected devices, data analytics, and automation. These digital elements play a crucial role in our daily lives, both in the workplace and personally. Industry 5.0 emerges as the next level in this digitalization process, building upon what has been learned so far.
When Industry 5.0 arises, it will be possible to observe the convergence of all efforts and data collected to date. This new industrial revolution will focus on merging the physical and digital realms, reigniting the debate about the relationship between humans and machines, but with the goal of optimizing both to enhance their capabilities. It is anticipated that artificial intelligence (AI) and cloud computing will achieve a harmony that enables workers to reach their maximum potential, replicating results in processes throughout the supply chain. Industrial AI will be a fundamental pillar in this environment, facilitating decision-making without generating conflict, despite assumptions to the contrary. It is essential to remember that the effectiveness of AI depends on the quality of the data it relies on.
The use of AI to integrate data points from physical assets will open new opportunities for innovation and variability. Real-time insights from machinery and production equipment will drive operational excellence and provide a competitive advantage. This is where industrial AI truly makes a difference. In addition to improving operations, Industry 5.0 also considers the intersection of AI with governance, environmental, and social responsibility (ESG) frameworks, offering companies a significant opportunity to drive sustainability throughout their workflows and physical operations.
The combination of AI and the management of physical assets will transform decision-making processes in companies with significant assets. Through advanced decision analytics, these companies will optimize capital allocation, manage risks, and make more precise data-driven business decisions. In an increasingly data-centric environment, industrial AI can provide a competitive edge by helping prioritize high-impact investments and adapt to changing market and regulatory conditions.
In a servitization context, where companies prefer to rent or lease industrial equipment instead of purchasing it, manufacturers are designing high-quality machinery with integrated smart technologies. AI will enable the identification of anomalies and maintenance issues in equipment before they escalate into incidents, optimizing workflows and reducing downtime.
The concept of "digital twins," which involves virtually replicating a physical object, becomes crucial in an environment where Manufacturing Execution Systems are integrated. This technology allows for real-time information processing and eliminates silos between virtual and physical environments, facilitating faster and more efficient optimization. Through simulations, areas for improvement can be identified, and iterative adjustments can be made until desired results are achieved.
For companies to successfully navigate towards Industry 5.0, it will be essential to address the regulatory complexities of data collection and storage, as well as to adopt AI strategically. Investing in AI tools that are customized and effective will be pivotal to remaining competitive on a global scale. Companies that manage to harness their data and apply AI to generate actionable insights will be well-positioned to lead in Industry 5.0, delivering more value to their clients while also enhancing their employees' work experience.
