Abstract

Industry 5.0 is the latest revolution announced by the European Commission that focuses on human-centricity, resilience, and sustainability. Its goal is to encourage the usage of the assets human beings have in conducting certain jobs and tasks and combining that with technology.  This research focuses on Industry 5.0 and assessing if corporations are ready to accommodate the ideology, values and technologies that are associated. Utilizing a systemic literature review to deep dive into the literature related to Industry 5.0 and its predecessor Industry 4.0, we are able to identify factors that would be needed for companies to accommodate Industry 5.0. Identifying skills, tools, and additional resources relevant to Industry 5.0 are a necessity in the success of transitioning between revolutions. This information will be gathered through academic/scholarly journals that are currently accessible, there will be further research conducted via surveys to obtain input from industry professionals and subject matter experts. We hypothesize that despite the overlap in Industry 4.0 and Industry 5.0 corporations are not 100% ready to accommodate Industry 5.0. We hope that our findings will contribute to an increase in corporations taking steps to utilize the ideas related to Industry 5.0. We also hope that this research will provide clarity to the differentiation between Industry 4.0 and Industry 5.0 and bridge the gap, resulting in a successful implementation of Industry 5.0.