Affiliation:
1. Sindh Madressatul Islam University, Pakistan
2. Institute of Business Management, Karachi, Pakistan
Abstract
Industry 5.0 emphasizes human collaboration with machines and cutting-edge technologies while adopting sustainable practices. Concurrently, Society 5.0 envisions a human-centric approach to address economic development and societal challenges by integrating physical and cyberspace. In the backdrop of unprecedented technological advancements leading to the emergence of Industry 5.0 and Society 5.0, there arises a critical need to scrutinize their objectives and the interplay between technological progress and societal well-being. Potential challenges include job displacement, privacy concerns, and environmental impacts, posing hurdles to their seamless coexistence. This chapter explores the evolving paradigms of Society 5.0 and Industry 5.0 while investigating their distinct yet interconnected goals and visions for the future. The chapter concludes by emphasizing the need for a balanced and vigilant approach to navigate the complexities of Industry 5.0 and Society 5.0, ensuring an inclusive, ethical, and sustainable future.