Industry 5.0 brings exciting chances with people and machines working together. It allows for custom products and greener practices. But, it also brings problems and dangers. A big worry is online security. More links between people, robots, and smart systems open doors to data theft and cyber attacks. Putting new tech like AI and IoT into old systems is tough. This costs a lot and is hard to do. People also need new skills. Workers must learn digital, thinking, and creating skills. This can cause push back and cost jobs for some. Ethical and social risks exist too. We might rely too much on machines. AI choices might be unfair. Trust between people and machines can be shaken. Going green and saving money is another pressure. Companies may struggle to be efficient and eco-friendly. Rules and standards are not clear. This can slow down progress and create compliance issues. In this chapter an effort is taken to find and prioritize challenges of Industry 5.0 by Step wise assessment ratio (SWARA) method and to assess risk of small or medium sized industry Weighted average sum and product assessment method (WASPAS) is used.

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An Analysis on Challenges or Risk Associated with Industry 5.0

  • Suchismita Satapathy,
  • Meghana Mishra

摘要

Industry 5.0 brings exciting chances with people and machines working together. It allows for custom products and greener practices. But, it also brings problems and dangers. A big worry is online security. More links between people, robots, and smart systems open doors to data theft and cyber attacks. Putting new tech like AI and IoT into old systems is tough. This costs a lot and is hard to do. People also need new skills. Workers must learn digital, thinking, and creating skills. This can cause push back and cost jobs for some. Ethical and social risks exist too. We might rely too much on machines. AI choices might be unfair. Trust between people and machines can be shaken. Going green and saving money is another pressure. Companies may struggle to be efficient and eco-friendly. Rules and standards are not clear. This can slow down progress and create compliance issues. In this chapter an effort is taken to find and prioritize challenges of Industry 5.0 by Step wise assessment ratio (SWARA) method and to assess risk of small or medium sized industry Weighted average sum and product assessment method (WASPAS) is used.