Industry 5.0
It was great participating in the CII Smart Manufacturing Summit 2023 today. Some insights for our manufacturing practitioners are as follows
1. Companies have started investing in Industry 5.0 (which emphasises on collaboration between humans and machines while enhancing cognitive system customisation) . This is an improvement over Industry 4.0 which mainly focussed on IoT , automation technology and machine learning.
2. This is being aided by great mobility in the form of 5G networks
3. Decreasing sensor and cloud costs is making the adaption quicker.
4. Smart manufacturing is highly focussed on sustainability initiatives in both discrete and continuous process plants.
5. AI is evolving into explainable AI where data is not just available from the SCADA system but also getting continuously enriched from multiple sources and algorithms are tailored to help people take optimal decisions.
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