book chapter · BENTHAM SCIENCE PUBLISHERS eBooks
Rapid technological advances are transforming business operations across industry and commerce. While organisations continue adapting to Industry 4.0, Industry 5.0 is gaining momentum, particularly within developed economies. Core tools including artificial intelligence, the Internet of Things, big data, and machine learning require strategic managers to adopt proactive approaches to harness their capabilities. However, leadership in developing nations appears to lag behind in adopting these advanced systems. An examination of future trends indicates that these technologies play a significant role in promoting sustainable corporate growth and offer multiple operational benefits. At the same time, certain limitations require managerial oversight. Strategic leaders are advised to pursue evidence-based management supported by artificial intelligence, data analytics, connected devices, and machine learning to achieve corporate sustainability.
As global markets move toward Industry 5.0, understanding the strategic benefits of emerging technologies is vital for commercial sustainability. Highlighting the adoption gap in developing countries draws attention to where strategic planning and investment are urgently needed to maintain competitiveness.
The insights target strategic managers and corporate decision-makers looking to deploy artificial intelligence, connected sensors, and predictive analytics for sustainable operations. Because the work outlines future trends and managerial guidance rather than developing or testing a proprietary tool, it functions as an early-stage conceptual framework rather than a market-ready technology.
AI-generated from the published abstract. Always read the original work before citing.
The technological advancement wave is transforming every business activity. As managers are still grappling with Industry 4.0, Industry 5.0 is gaining momentum, especially in the developed countries. It is widely accepted that Artificial Intelligence (AI), the Internet of Things (IoT), big data, and machine learning necessitate a paradigm shift in industry and commerce. As such, strategic managers are expected to be well-prepared and adopt proactive strategies to harness the transformative power of these technologies. However, it appears that managers in developing countries are lagging when it comes to the adoption of these advanced technologies of Industry 5.0. Therefore, this chapter established the future trends and prospects of AI, IoT, big data, and machine learning in Industry 5.0. This study concluded that these advanced technologies are playing a significant role in promoting the sustainable growth of companies in the industry and commerce. The advanced technologies of Industry 5.0 are associated with several positive effects. However, some limitations warrant the attention of strategic managers. It is recommended that managers focus on evidence-based management supported by AI, IoT, big data, data analytics, and machine learning to foster corporate sustainability.
This page summarises published work. The authoritative version sits with the publisher.
DOI: 10.2174/9798898817596126010005
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