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Article
Publication date: 19 September 2019

Chris William Callaghan

The purpose of this paper is to present the argument that there exists a threshold limitation to new knowledge creation, associated with a global productivity growth slowdown, a…

Abstract

Purpose

The purpose of this paper is to present the argument that there exists a threshold limitation to new knowledge creation, associated with a global productivity growth slowdown, a global decline in research and development (R&D) productivity and a decline in the growth of globalisation.

Design/methodology/approach

Taking the form of a conceptual paper, this paper seeks to advance the polemic that despite discussions of a ‘fourth industrial revolution,’ there has been no substantive change in a global decline in productivity growth, particularly in developed countries. Specific threats are identified and related to the consequences of technological proliferation in the absence of an effective research response to address them. Certain theoretical propositions are derived, with the suggestion that novel theory promises a ‘fifth industrial revolution,’ one that might ultimately reverse the downward trend in global productivity growth.

Findings

Drawing on management theory, derivation of the theoretical propositions suggests the existence of a mechanism related to research productivity enhancement. Discussions suggest that this mechanism might ultimately explain how the R&D productivity decline, evident since the 1970s, may ultimately be reversed.

Originality/value

The paper seeks to provoke novel thinking about the consequences of a failure to develop a research agenda explicitly focused on the attainment of economies of scale in the research process itself.

Book part
Publication date: 20 November 2023

Gözde Mert, Bulent Akkaya and Apostu Simona Andreea

With the rapid development of technology in the era of digitalization, Industry 4.0 has become a reference for R&D studies in various sectors. The rapid development of technology…

Abstract

With the rapid development of technology in the era of digitalization, Industry 4.0 has become a reference for R&D studies in various sectors. The rapid development of technology makes the life of societies and people easier. For this reason, governments tend to develop their technologies and to encourage organizations in this field for this purpose. The concept of Industry 5.0 or Society 5.0 explains the revolution in people's lives with the development of the Fourth Industrial Revolution. Today, many interrelated factors are rapidly preparing people for a complex and volatile future. This situation is accepted as the “new normal” and is defined as VUCA-RR (Volatility, Uncertainty, Complexity, Ambiguity, Rapidity, Radicality). Variability refers to the increasing pace of change, uncertainty, unpredictability in life. Complexity indicates difficulties in relationships in life, and ambiguity indicates difficulties in understanding the events around us. The advancement and widespread use of digital technologies will enable organizations to develop sustainable strategies by providing them with the opportunity to grow by achieving sustainable competitiveness and profit in the VUCA-RR environment.

Details

Digitalization, Sustainable Development, and Industry 5.0
Type: Book
ISBN: 978-1-83753-191-2

Keywords

Book part
Publication date: 30 May 2022

Cátia Miriam Costa, Enrique Martinez-Galán and Francisco José Leandro

The United Nations recognizes “civil society” as the “third sector” of society, along with public (governmental) and private sector organizations. The term global “third sector”…

Abstract

The United Nations recognizes “civil society” as the “third sector” of society, along with public (governmental) and private sector organizations. The term global “third sector” comprises the worldwide reach of civil society organizations (CSOs). In this chapter, we discuss how technological advancements could influence global civil society. Humans and machines will increasingly interact and collaborate closely in the future. The Industry Revolution (IR) 5.0 brings new challenges, such as artificial intelligence (AI) and machine learning, which pose significant opportunities but also important risks to the role of CSOs. Regarding opportunities, it can be highlighted the potential of the IR 5.0 to better work with big data and to increase knowledge in support of the participation of CSOs in global governance and debates, more precisely by increasing their capabilities in knowledge production and practical implementation. One example is the role of AI in making sense of the large volume of data recorded by satellites, drones, and sensors throughout the planet to better inform environmental policies and debates. Risks are also significant, particularly for an incipient and pioneering technology that takes time for the governance systems to understand and regulate. Another example is the misuse of technology and algorithms to generate targeted misinformation and propaganda to influence public opinion and elections. Governments around the world and leading high-tech companies should define a framework that regulates IR 5.0. Global civil society could play an important role in demanding and lobbying the creation of this framework. For this goal, CSOs need to understand how stakeholders see and adapt to technological challenges.

This chapter is organized as follows. The introduction will discuss the key characteristics of the so-called “global civil society,” as well as identify the major challenges emerging from the transition from IR 4.0 to IR 5.0. Then the authors will discuss the impact of these technological advancements on global civil society from the specific perspectives of: (1) how international organizations and governments refer to them; (2) how bilateral and multilateral development partners (BMDP) are challenged by them; and (3) how higher education institutions adapt to them.

In the first section – “IR 5.0 and Human Social Capital: Diverse discourses for the same phenomena?” – we will study how the different discourses penetrated the international public sphere. International organizations, such as the European Union and the Organization for Economic Cooperation and Development, mentioned it officially and entered the discussion, while others, such as the International Labour Organization, seem to skip it and maintain their focus in the IR 4.0. However, the discourse on AI is not restricted to international organizations. Some states, like Japan and China, have already positioned themselves, producing their discourses. More specifically, the authors examine the official discourses in the national and international public arena, and identify the different topics, perspectives, and absences in each of them, understanding the existence of gaps or complementarity between them. In the second section – “How do bilateral and multilateral development partners look into the role of AI and CSO?” – we will examine, likewise, the concept of AI, then address how international organizations and national governments are incorporating or ignoring its consequences, to discuss the main benefits and risks that AI represents for the global civil society. In the third section – “The academic new syllabi of the future: The tandem solutions” – we will study the impact on the way the students’ syllabi in the institutions associated with higher education are designed to accommodate the forthcoming challenges in terms of the construction of human social skills. The last section concludes. Methodologically, this research is supported by inductive comparative qualitative analysis, non-participated observations, and empirical international experience, combined with discourse analysis and interviews.

Article
Publication date: 16 May 2023

Arun Malik, Shamneesh Sharma, Isha Batra, Chetan Sharma, Mahender Singh Kaswan and Jose Arturo Garza-Reyes

Environmental sustainability is quickly becoming one of the most critical issues in industry development. This study aims to conduct a systematic literature review through which…

Abstract

Purpose

Environmental sustainability is quickly becoming one of the most critical issues in industry development. This study aims to conduct a systematic literature review through which the author can provide various research areas to work on for future researchers and provide insight into Industry 4.0 and environmental sustainability.

Design/methodology/approach

This study accomplishes this by performing a backward analysis using text mining on the Scopus database. Latent semantic analysis (LSA) was used to analyze the corpus of 4,364 articles published between 2013 and 2023. The authors generated ten clusters using keywords in the industrial revolution and environmental sustainability domain, highlighting ten research avenues for further exploration.

Findings

In this study, three research questions discuss the role of environmental sustainability with Industry 4.0. The author predicted ten clusters treated as recent trends on which more insight is required from future researchers. The authors provided year-wise analysis, top authors, top countries, top sources and network analysis related to the topic. Finally, the study provided industrialization’s effect on environmental sustainability and the future aspect of automation.

Research limitations/implications

The reliability of the current study may be compromised, notwithstanding the size of the sample used. Poor retrieval of the literature corpus can be attributed to the limitations imposed by the search words, synonyms, string construction and variety of search engines used, as well as to the accurate exclusion of results for which the search string is insufficient.

Originality/value

This research is the first-ever study in which a natural language processing technique is implemented to predict future research areas based on the keywords–document relationship.

Details

International Journal of Lean Six Sigma, vol. 15 no. 1
Type: Research Article
ISSN: 2040-4166

Keywords

Article
Publication date: 4 December 2023

Patience Tunji-Olayeni, Clinton Aigbavboa, Ayodeji Oke and Nissi Chukwu

Industry 5.0 provides significant social, environmental and economic benefits over previous industrial revolutions. However, research in the field of industry 5.0 is still at a…

Abstract

Purpose

Industry 5.0 provides significant social, environmental and economic benefits over previous industrial revolutions. However, research in the field of industry 5.0 is still at a very nascent stage. Little is known about research trends in the field and its applications in specific sectors as construction which have relatively low sustainability index. Hence, this study aims to explore research trends in industry 5.0 and its applications in the construction industry.

Design/methodology/approach

The study adopted a bibliometric analysis with the use of the vosviewer. The main search words used in the study were “Industry 5.0”, “Society 5.0” AND “Fifth Industrial Revolution”. Initial extracted papers with these keywords were 1036. After refining based on language, document type, key words and timeframe, a total of 188 papers were found suitable for the analysis.

Findings

The most impactful research on Industry 5.0 to date was from the United States, Australia and Sweden while the journal sustainability was found to be the highest document source on Industry 5.0. The application areas of industry 5.0 in the construction industry include health and safety, collaborative working, waste management, measurement of environmental features (indoor air quality, atmospheric pressure, noise, humidity and temperature) and forecasting of environmental, social or financial outcomes.

Research limitations/implications

The study used review based papers which form the bulk of the existing research on industry 5.0. This limits understanding of the practical applications, benefits and challenges associated with the use of industry 5.0.

Originality/value

This work contributes to the theory and practice of industry 5.0 by providing baseline data for future research directions on industry 5.0. The work specifically highlights the application areas of industry 5.0 in the construction industry and also indicates the need for questionnaire, interviews or case study based research to enhance understanding of the practical applications of industry 5.0.

Details

Technological Sustainability, vol. 3 no. 1
Type: Research Article
ISSN: 2754-1312

Keywords

Book part
Publication date: 17 February 2023

Ali Shafiee Bafti, Ali Akbar Farjadian and Zahra Mirmohammadzade Noudehi

Supply of food from the early stages of societies was one of the most important needs of humans. Sustainable supply of food is a demand in modern societies. The agri-food market…

Abstract

Supply of food from the early stages of societies was one of the most important needs of humans. Sustainable supply of food is a demand in modern societies. The agri-food market grows as the population rises every year. The increase in the demand side of the market is more than the growth of the supply side. The rate of using technology in the supply side is increasing rapidly. By using technology in some parts, the efficiency of production improved and caused more production while resources are the same. Availability of resources in different areas causes different ways of production and nurturing innovative technologies to maintain food security. Water, soil, climate change, and growth of population are drivers of using technology in food security. To depict the role of different technologies in the food industry, the authors have reviewed the role of the most important technologies in this field. Knowing the trends of changes in the industry will help to focus on the most important questions and solutions. Having a share in the global food market requires the major use of technology in production processes. In this chapter, the authors will review the most important trends of technology absorption in the food industry.

Details

Transformation for Sustainable Business and Management Practices: Exploring the Spectrum of Industry 5.0
Type: Book
ISBN: 978-1-80262-278-2

Keywords

Book part
Publication date: 17 February 2023

Parag Shukla and Surabhi Singh

The concept of Industry 5.0 is not just one more revolution but calls for a tectonic shift in digitization and operationalizing technology with connected value chain across…

Abstract

The concept of Industry 5.0 is not just one more revolution but calls for a tectonic shift in digitization and operationalizing technology with connected value chain across sectors. It is human centric that promotes talents, diversity and empowerment coupled with resilience leading to agile and adaptable technologies with prime focus on sustainability. The COVID-19 pandemic has given impetus to digital transformation and accelerated the focus on other challenges of present time and with extended importance on people, planet and societal concepts. This study shall attempt to examine the nature of association between revolution of Industry 5.0 with perspectives to digital innovation and its implications toward bringing sustainable business model. The main objective of this chapter shall be to uncover interrelated questions in terms of sustainability perspectives of industries in framing business models. This study shall serve as a primer to significance of digital transformation with relevance to businesses that can lead to efficient use of scarce resources and optimal feasible solutions to the business models, given the institutional and organizational frameworks. Further, an attempt shall also be made to underpin the key facets of effects of Industry 5.0 on the knowledge economy. It shall delve into how digital innovations can yield benefits to industry in terms of competitiveness and sustainability with focus on Society 5.0 that attempts to balance economic development with the resolution of societal and environmental problems. It is not restricted to the manufacturing sector but addresses larger social challenges based on the integration of physical and virtual spaces.

Details

Transformation for Sustainable Business and Management Practices: Exploring the Spectrum of Industry 5.0
Type: Book
ISBN: 978-1-80262-278-2

Keywords

Article
Publication date: 28 February 2023

Josephine Lang

Since new digital micro-credential technologies emerged a decade ago, there has been a rapid rise in micro-credentials in the education landscape. Much has been promised about…

Abstract

Purpose

Since new digital micro-credential technologies emerged a decade ago, there has been a rapid rise in micro-credentials in the education landscape. Much has been promised about these educational technologies, yet there is much confusion by key stakeholders in the digital micro-credential ecosystem. This confusion has led to significant efforts globally to define micro-credentials to ensure quality learning and generate beneficial impacts to learners, employers, education providers and edtech organisations.

Design/methodology/approach

This commentary reviews relevant literature on digital micro-credentials and other alternative credentials to determine how these educational technologies can meet the demands of the Fourth Industrial Revolution to nurture lifelong learning for working learners.

Findings

Universities are being challenged to address the changing needs and uncertainty being introduced by the Fourth and Fifth Industrial Revolutions, particularly with implications for workforce upskilling and lifelong learning. To adapt, universities will need to rethink their roles and shift their institutional mindsets in how they may approach the challenges through mechanisms such as digital micro-credntials.

Research limitations/implications

This paper focuses on the analysis of five policy statements about micro-credentials. While these policy statements represent a sample, there is a representation of Western education-related systems. Thus, they skew the findings towards Western education systems thinking.

Practical implications

Understanding how micro-credentials are being positioned within education-related systems is useful for applying the educational technologies by, for example, universities, learners and employers.

Social implications

Provides an overview of how these educational technologies may provide beneficial impacts for society as it plans to adapt to economic uncertainty and change.

Originality/value

The commentary provides a policy context for the emerging use of micro-credential technologies to examine demands for workforce upskilling.

Details

The International Journal of Information and Learning Technology, vol. 40 no. 5
Type: Research Article
ISSN: 2056-4880

Keywords

Book part
Publication date: 20 November 2023

Surjeet Dalal, Bijeta Seth and Magdalena Radulescu

Customers today expect businesses to cater to their individual needs by tailoring the products they purchase to their own preferences. The term “Industry 5.0” refers to a new wave…

Abstract

Customers today expect businesses to cater to their individual needs by tailoring the products they purchase to their own preferences. The term “Industry 5.0” refers to a new wave of manufacturing that aims to meet each customer's unique demands. Even while Industry 4.0 allowed for mass customization, that wasn't good enough before, customers today demand individualized products at scale, and Industry 5.0 is driving the transition from mass customization to mass personalization to meet these demands. It caters to the individual needs of each consumer by meeting their demands. More specialized components for use in medicine are made possible by the widespread customization made possible by Industry 5.0. These individualized parts are included into the medical care of the patient to meet their specific needs and preferences. In the current medical revolution, an enabling technology of Industry 5.0 can produce medical implants, artificial organs, bodily fluids, and transplants with pinpoint accuracy. With the advent of AI-enabled sensors, we now live in a world where data can be swiftly analyzed. Machines may be programmed to make complex choices on the fly. In the medical field, these innovations allow for exact measurement and monitoring of human body variables according to the individual's needs. They aid in monitoring the body's response to training for peak performance. It allows for the digital dissemination of accurate healthcare data networks. In order to collect and exchange relevant patient data, every equipment is online.

Details

Digitalization, Sustainable Development, and Industry 5.0
Type: Book
ISBN: 978-1-83753-191-2

Keywords

Book part
Publication date: 4 December 2023

Bhabajyoti Saikia

The fifth industrial revolution, known as Industry 5.0, envisions an industry that is innovative, resilient, socio-centric, and competitive while minimizing negative environmental…

Abstract

The fifth industrial revolution, known as Industry 5.0, envisions an industry that is innovative, resilient, socio-centric, and competitive while minimizing negative environmental and social impacts, respecting people, the planet, and prosperity. Industry 5.0 is replacing earlier advancements and it is successful because it reaches the pinnacle of perfection. Additionally, machine work saves human workers time and effort. It is built on the concept of fusing digitalization elements from the fourth industrial revolution with Sustainable Development Goals through human-centric solutions, bio-inspired technologies, and secure data transfer. Industry 5.0 mentions about the various opportunities, constraints, and potential directions for future research. Industry 5.0 places less emphasis on technology and focus on human collaboration for progress, it supposed to have a shift in existing paradigm. Industry 5.0 is necessary in contemporary business with the paid technology advancements in order to get competitive advantages as well as economic growth for the manufacturing and it has three drivers: “green transition”, “digital transition”, and “competitive transition”. The goal of green transition is to prevent climate change and environmental degradation. This necessitates changes to current economic growth strategies. The goal of digital transition is to support the circular economy by modernizing digital strategies in terms of digital skills, data, technologies, and infrastructure. Competitive transition aims to convert marketing policies, regulations, standards to increase people's prosperity and business value. It focuses on business and marketing rules that are fair, competitive, innovative, and adaptable.

Details

Fostering Sustainable Businesses in Emerging Economies
Type: Book
ISBN: 978-1-80455-640-5

Keywords

1 – 10 of over 5000