Advancing workplace of the future with the fifth industrial revolution.

The industrial revolution has come a long way. As the first revolution was knowns as the transition to new manufacturing processes, the second revolution brought a technological revolution, a phase of rapid standardization and industrialization. The third revolution brought digitization of manufacturing and the fourth industrial revolution is highly known as the digital revolution that has been occurring since the middle of the last century. It is characterized by a fusion of technologies that is closing the gaps between the physical, digital, and biological spheres.

Now enter the fifth industrial revolution, or Industry 5.0. 

This industrial revolution is expected to be the next technology revolution and will be faster and more scalable. Some people even believe that Industry 5.0 will be based on Industry 4.0. As we are already experiencing the fourth Industrial Revolution and witnessing the economic disruption with technology advances like AI, Blockchain, Crypto, IoT, and others, the fifth Industrial Revolution is likely to turn our focus back to humanity. AI may assist in boosting human labor productivity, blockchain may provide more efficient and convenient access to banking to the unbanked, and robots may help humans to align ROI with purpose.

In Industry 5.0, women's roles will be crucial in the workplace. The United Nations’ Sustainable Development Goals (SDGs) provide the first-ever universal matrix to accomplish a flourishing future. Adopted by the heads of governments from 193 UN member states, the SDGs cover every facet of life globally; social, environmental, and economic. One of the most important SDG is SDG5 – empowerment of women and girls worldwide. Without this, there is no optimism to achieve the SDGs. It states that if women and girls are empowered to lead campaigns for human flourishing, all the other SDGs will rise.

Preparing for the Industry 5.0

Contrary to trends in Industry 4.0 toward technology and dehumanization, technological advancement and innovation best practices in Industry 5.0 will bend back toward the service of humanity. At workplaces, this industrial revolution will place greater importance on human intelligence than ever. Since using AI already provides employers to seize better talent, the fifth industrial revolution brings in massive advantages, providing the candidates with a more personalized experience in their job search.

In Industry 5.0, the human-machine collaboration will see a greater take-off. Recent progress in AI, robotics, machine learning, data, and analytics, amongst others, are also causing the birth of the fifth industrial revolution. One of the core advantages of such technologies, especially AI, is that they provide and act upon rich data insights. This might be a huge benefit for recruiters in terms of getting the right talent pool which will resonate with candidates and create better engagement between them.

Therefore, Industry 5.0 will highly be an AI revolution with the potential of other technologies like quantum computing, helping in bringing humans and machines together at the workplace. It will also support recruiters and hiring managers to harness the unique talent and skills that can drive more benefits to their companies.