Preparing for Industry 5.0

To remain competitive in manufacturing, companies must modernize their operations. This is nowhere clearer than in medical device manufacturing as pricing pressures from health systems continue to squeeze a highly regulated industry that requires traceability from production to end of product life. Assisting companies in being competitive also requires embracing Industry 5.0.

What? Industry 5.0? I’m sure some of you are thinking how your company is still trying to work on implementing Industry 4.0 and now there’s talk about Industry 5.0. Perhaps you’re feeling a bit behind the eight ball, but no worries, there’s help for this new journey.

Some of the complexities manufacturers are facing in implementing Industry 4.0 and Industry 5.0 are integrating advanced systems, ensuring cybersecurity, and managing the human-machine interface. This is where Info-Tech Research Group’s recently released blueprint highlights six core roadblocks that prevent manufacturers from adopting Industry 4.0 and Industry 5.0 technologies and offers strategies for manufacturers to overcome these obstacles.

One area noted by the blueprint is chief information officers can tackle some immediate challenges of Industry 4.0 and Industry 5.0 by developing strategic partnerships with technology providers and by collaborating with research institutions. The research also addresses challenges in implementing advanced technologies that are often due to the high initial investments in information technology (IT) and operational technology (OT), along with a lack of necessary skills among existing employees to work with modern technologies. And, while resistance to adopting new technologies and processes among those involved is also a cause for concern, it’s important manufacturing industry leaders recognize successfully adopting Industry 4.0 and Industry 5.0 technologies is essential and will have a transformative impact on the industry.

As Shreyas Shukla, principal research director at Info-Tech Research Group states, “The global manufacturing landscape is rapidly evolving, and the integration of Industry 4.0 technologies has resulted in a more interconnected and data-driven manufacturing environment. Further, the leap to Industry 5.0 introduces additional layers of complexity, emphasizing customization, efficiency, and more significant collaboration between humans and machines. This shift poses unique challenges, from technological adoption and workforce adaptation to ethical considerations and sustainability goals.”

While the research shows most manufacturers aren’t meeting transformation goals – and digital transformation and smart factories aren’t going away – reviewing, understanding, and addressing these six core roadblocks can help a company build a more connected, efficient, and adaptable manufacturing environment. Successfully achieving this transformation “will lead to higher-quality products, reduced operational costs, and enhanced overall business performance. Embracing the opportunities of Industry 4.0 and Industry 5.0 is essential for manufacturers aiming to thrive.”

How’s your journey to Industry 5.0 going?