Affiliation:
1. University of Petroleum and Energy Studies, India
2. University Canada West, Canada
Abstract
There will be a revolution in industry and society as a result of Industry 5.0. Human-robot co-working, also known as cobots, is a key component of Industry 5.0. Industry 5.0 will overcome all the limitations of the previous industrial revolution. Humans and machines will work together in this revolution to increase the efficiency of processes by utilising human brainpower and creativity. To solve complex problems more efficiently and with less human intervention, Industry 5.0 provides a strong foundation for advanced digital manufacturing systems through interconnected networks, and it's designed to communicate with other systems, as well as powerful computing power. To enhance customer satisfaction, Industry 5.0 involves a shift from mass customization to mass personalization along with a shift from digital usage of data to intelligent use of data for sustainable development. On the basis of comparative analysis, this chapter outlines Industry 5.0's definition, its elements and components, and its application and future scope paradigm.
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