Industry 5.0: Prospect and retrospect

Leng, Jiewu; Sha, Weinan; Wang, Baicun; Zheng, Pai; Zhuang, Cunbo; Liu, Qiang; Wuest, Thorsten; Mourtzis, Dimitris; Wang, Lihui

doi:10.1016/j.jmsy.2022.09.017

Cited by 443 publications

(239 citation statements)

References 134 publications

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“…Trading in NFTs is expected to increase dramatically in the coming days as more people take advantage of their accessibility and ease of use [12,14,15].…”

Section: Results Summarymentioning

confidence: 99%

“…Like the gaming industry, the financial technology sector is seen as an excellent place to delve into, attributable to the metaverse's boundless potential. In addition, the metaverse provides a convenient location for tech-enabled businesses to gather in premade social and working hubs [15,16], like how the metaverse will help companies to expand their networks of partners and customers as the payment environment diversifies and simplifies. The financial technology industry can increase consumer happiness by creating more engaging experiences as the metaverse merges the offline and online worlds.…”

Section: Results Summarymentioning

confidence: 99%

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Untitled

2023

IJCSIT

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The Fintech industry is no stranger to transformation and disruption. With the emergence of new technologies such as Big Data and the Metaverse, finance companies are quickly leveraging these technologies to revolutionize the virtual fintech sector. Big data transforms how financial institutions gather, analyze, and utilize data. The sheer amount of data available has opened up countless opportunities for better customer understanding and insight into business operations. Companies can use this data to create predictive models that identify emerging trends in customer behavior, market activity, and other aspects of their business. By utilizing these insights, companies can make smarter decisions about products, services, marketing strategies, and more. The Metaverse is another technology with massive potential for disrupting the Fintech sector. The Metaverse enables businesses to offer virtual goods and services without physical stores or retail outlets. This makes it easier for companies to scale their operations across multiple regions and gives customers more options when choosing a financial service provider. Additionally, using digital currencies like Bitcoin helps reduce transaction costs significantly while increasing security compared to traditional payment methods like credit cards or PayPal.

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“…Trading in NFTs is expected to increase dramatically in the coming days as more people take advantage of their accessibility and ease of use [12,14,15].…”

Section: Results Summarymentioning

confidence: 99%

Section: Results Summarymentioning

confidence: 99%

Untitled

2023

IJCSIT

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“…According to the report, Industry 5.0 complements the existing concept of Industry 4.0 by emphasizing the importance of research and innovation as drivers of the transition to a sustainable, human-centered, and resilient European industry ( Figure 30 ). A review of these three leading characteristics of Industry 5.0 was provided in [ 348 ]. A preliminary survey-based tutorial on potential applications and supporting technologies of Industry 5.0 is presented in [ 349 ].…”

Section: Discussionmentioning

confidence: 99%

Maintenance Performance in the Age of Industry 4.0: A Bibliometric Performance Analysis and a Systematic Literature Review

Werbińska-Wojciechowska

Winiarska

2023

Sensors

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Recently, there has been a growing interest in issues related to maintenance performance management, which is confirmed by a significant number of publications and reports devoted to these problems. However, theoretical and application studies indicate a lack of research on the systematic literature reviews and surveys of studies that would focus on the evolution of Industry 4.0 technologies used in the maintenance area in a cross-sectional manner. Therefore, the paper reviews the existing literature to present an up-to-date and content-relevant analysis in this field. The proposed methodology includes bibliometric performance analysis and a review of the systematic literature. First, the general bibliometric analysis was conducted based on the literature in Scopus and Web of Science databases. Later, the systematic search was performed using the Primo multi-search tool following Preferred Reporting Items for Systematic Reviews and Meta-Analyses (PRISMA) guidelines. The main inclusion criteria included the publication dates (studies published from 2012–2022), studies published in English, and studies found in the selected databases. In addition, the authors focused on research work within the scope of the Maintenance 4.0 study. Therefore, papers within the following research fields were selected: (a) augmented reality, (b) virtual reality, (c) system architecture, (d) data-driven decision, (e) Operator 4.0, and (f) cybersecurity. This resulted in the selection of the 214 most relevant papers in the investigated area. Finally, the selected articles in this review were categorized into five groups: (1) Data-driven decision-making in Maintenance 4.0, (2) Operator 4.0, (3) Virtual and Augmented reality in maintenance, 4) Maintenance system architecture, and 5) Cybersecurity in maintenance. The obtained results have led the authors to specify the main research problems and trends related to the analyzed area and to identify the main research gaps for future investigation from academic and engineering perspectives.

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“…In light of the recent advances in Industry 4.0 [6] , the upcoming Industry 5.0 [7] , and Society 5.0 [8] , engineers are now focusing on the design, development, and implementation of strategies to enhance their productivity and remain competitive while also ensuring that the environmental impact of their activities remains as low as possible. Among the possible solutions for energy and waste management, business models have also been transformed by following the servitization paradigm to provide models such as product-service systems (PSSs) and industrial product-service systems (IPSSs), which promote selling of services rather than tangible goods [9] .…”

Section: Introductionmentioning

confidence: 99%

Smart Grids as product-service systems in the framework of energy 5.0 - a state-of-the-art review

Mourtzis¹,

Angelopoulos²,

Panopoulos³

2022

Green Manuf Open

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Aim: This work explores the opportunities and challenges associated with the integration of Product Service Systems (PSS) into Smart Grids (SGs) with the aim of improving manufacturing and production systems’ sustainability under the Society 5.0 framework. Methods: A bibliometric analysis was conducted to examine the existing bibliographic material and identify the primary scientific directions for this research area. The aim was to provide a thorough understanding of the research problems and perform an in-depth analysis of the distinctive aspects of development of the scientific research in this field and visualize the results with VOS viewer tool. Results: Industry, society, and academia are being reshaped and reorganized to integrate new information and communications technology (ICT) to enable complete digitization and digitalization of their infrastructures. This trend is driven by the need for more resilient, environmentally sustainable, and human-centric systems, as indicated by the terms Industry 5.0 and Society 5.0. Electrical power generation and distribution currently are critical issues for society. In this context, SGs are examined from the perspective of product-service systems (PSSs). The key enabling technologies are discussed and a technical discussion based on presentation of implemented frameworks follows. Conclusion: Intelligent societies will become the new reality. It is necessary to adapt existing infrastructures toward human centricity, resilience, and sustainability. SGs require further development, with several challenges still to be addressed. However, engineers have several technologies available, including blockchain and PSSs, to promote client activity in societal infrastructures.

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Industry 5.0: Prospect and retrospect

Cited by 443 publications

References 134 publications

Untitled

Untitled

Maintenance Performance in the Age of Industry 4.0: A Bibliometric Performance Analysis and a Systematic Literature Review

Smart Grids as product-service systems in the framework of energy 5.0 - a state-of-the-art review

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