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In the Industry 4.0 era, automation and data analytics emerge as the major forces to enhance efficiency in operations management (OM). Disruptive technologies, such as artificial intelligence, robotics, blockchain, 3D printing, 5G, Internet‐of‐Thing, digital twins, and augmented reality, are widely applied. They potentially will bring a radical change to real world operations. In this study, we first explore several major disruptive technologies, examine the corresponding OM studies, and highlight their current applications in the industry. Then, we discuss the pros and cons associated with the use of these technologies and uncover the potential human–machine conflicting areas. After that, we propose measures which may be able to achieve human–machine reconciles in the coming Industry 5.0 era. A concept of “sustainable social welfare” which includes worker welfare, privacy, etc. is proposed and the roles played by policy makers are also discussed. Finally, a future research agenda, which covers topics in both the Industry 4.0 and Industry 5.0 eras, is established.

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