AI in the industrial revolution 5.0

The revolution of industry 5.0 means that humans and machines are working together, improving the efficiency of industrial production. Human workers and universal robots are boosting the productivity of the manufacturing industry  Each of the executive teams of the manufacturing company is required to define the production line, then follow the key performance indicators and ensure that the processes are working effortlessly.The future direction of industry 5.0 is the manufacturing of robots and industrial robots.The advancement of artificial intelligence and cognitive computing technologies is taking the manufacturing world to a high speed and increasing business efficiency. 

Artificial intelligence is the simulation of human intelligence processes by machines, especially computer systems. Specific applications of AI include expert systems, natural language processing, speech recognition and machine vision.

 

AI is important for its potential to change how we live, work and play. It has been effectively used in business to automate tasks done by humans, including customer service work, lead generation, fraud detection and quality control. In a number of areas, AI can perform tasks much better than humans. Particularly when it comes to repetitive, detail-oriented tasks, such as analyzing large numbers of legal documents to ensure relevant fields are filled in properly, AI tools often complete jobs quickly and with relatively few errors. Because of the massive data sets it can process, AI can also give enterprises insights into their operations they might not have been aware of. The rapidly expanding population of generative AI tools will be important in fields ranging from education and marketing to product design.

 for supply chain management may also include the use of AI-powered robotics for warehouse automation, real-time monitoring and optimization of supply chain processes, and the use of AI to detect and prevent potential disruptions in the supply chain. Additionally, AI could also be used to optimize supplier selection and procurement processes, as well as to improve overall supply chain visibility and collaboration. As AI continues to evolve, it is expected to have a transformative impact on supply chain management, leading to more agile, responsive, and sustainable supply chains.

 In conclusion, AI is poised to play a significant role in the industrial revolution 5.0, particularly in the realm of supply chain management. With its ability to automate processes, optimize decision-making, and enhance visibility and collaboration, AI has the potential to revolutionize how supply chains operate. As AI continues to evolve, it is likely to lead to more agile, responsive, and sustainable supply chains, ultimately shaping the future of industry and commerce. It is important for businesses to embrace and adapt to these technological advancements in order to stay competitive in the rapidly changing landscape of supply chain management.

  Name     : P.A.C Kavindaya

  Index No:  204268

 Challenges, The Tips, Best Practices For The Organization Can Practice To Meet The Challenges On Their Way

• The fourth industrial revolution didn't even become a word until 2011, whereas the previous three took hundreds of years to replace. We witnessed the rise of digitalization, driven by innovations in IoT, cognitive computing, and the fusion of AI and Big Data, and we developed conceptual frameworks to make use of this technology.
• Industry 5.0, which fully integrates the human element into business and intelligent systems, is bound to succeed Industry 4.0, which is characterized by technical decentralization and interconnectedness at full speed.
• By implementing next-generation technologies, increased automation will have a favorable effect on employment across a wide range of industries.
•  Systems for manufacturing that are highly automated give clients more options for personalization.
• Industry 5.0 opens up more places for creative people to work, which makes it possible to maximize employee productivity.
•  Industry 5.0 will assist the client digitally in managing recurring follow-up assignments, and machines are adaptable to employee wants to provide a high-level choice
•  Because Industry 5.0 restores people's freedom to be in charge of building, it generates higher-value jobs than it did previously
•  in industry 5.0, the production cell operator is more involved in the planning process than in the largely automated manufacturing process.
• It permits greater customization and personalization of items as well as the freedom of design to operate.
•  With Industry 5.0, it improves the automation of production processes by supplying real-time data from the industry.
•  Enhanced worker safety on the Woo Ark floor due to COBOTs' ability to do risky and hazardous tasks.
• More individualized goods and services boost client happiness and loyalty while drawing in new business, increasing profits and market share for the offering company.
• If sufficient capital and infrastructure are available, it offers start-ups and entrepreneurs in creative and inventive fields excellent chances to develop new goods and services related to industry 5.0.
• Industry 5.0 offers a broader platform for research and development in the area of human-machine interaction and gives the sector more relevance.
• Industry 5.0 can assist deliver high-quality services to remote locales, particularly in the healthcare sector where robots can perform surgery in rural areas.

According To As Challenges; 

•  This trend increases work polarization where middle-skill employment is decreasing and the workforce is split into two communities: extremely trained and qualified; low-paid and unqualified employees. This may alleviate the skilled and unskilled divide in the society.
•  Due to highly automated manufacturing systems, skill development is a humongous task such as training workforce for adoption of advanced and cutting-edge technologies, and inducing behavioral change for interacting with .
•  Collaborative robotics is the method of automation, which together with human co-workers also stays an important danger on the shop floor
•  Smart manufacturing systems demand higher autonomy and sociality capabilities as key factors of self organized systems. The shift from present context to industry 5.0 is difficult due to lack of autonomy in the present systems such as integrated decision making.
•  It is challenging to obtain data from industrial systems that is of high quality and integrity, and it is challenging to accommodate various data repositories.
• Due to growing connectivity and the usage of standard communications protocols, industry 5.0 manufacturing lines and important industrial systems are more vulnerable to cyber security threats.
•  Industry 5.0 is challenging for industry, and especially SMEs, to adopt because it requires a significant expenditure to completely execute all of its pillars.
•  Industry 5.0, for instance, has enormous potential in the healthcare sector, but it requires a high level of accuracy and precision. This area of research is still in its infancy and requires significant infrastructure and funding.
•  Due to the high infrastructure and cutting-edge technological needs of industry 5.0, it is difficult for startups and business owners to succeed.
• Industry 5.0 demands a modification and customization of the current business strategy and business models due to the increased levels of automation in the various industries. Business strategy will be increasingly customer-centric in operations due to mass personalization. Customer subjectivity is subject to change over time, and it is challenging to regularly modify corporate plans and models.
• Industry business strategy A greater degree of dynamism is required in 5.0 to maintain competition because of the varying customer preferences.

The Role of AI in the Industrial Revolution 5.0, its impact on the data, information, knowledge management function of the organizations.

The Industrial Revolution 5.0, which is defined by the integration of digital, biological, and physical systems, is completely reliant on artificial intelligence (AI). Artificial intelligence (AI) is changing many organizational functions and influencing how organizations manage data, information, and knowledge.

AI is influencing how businesses manage data, which is an important component in the Industrial Revolution 5.0. Huge amounts of data can be processed by AI algorithms fast and correctly, giving organizations access to patterns and insights that would be challenging for human beings to discovered. Since AI can offer real-time insights that can guide strategic decisions, this has major implications on how decisions are made inside organizations.

AI is also revolutionizing information management in organizations by facilitating more effective information classification and arrangement. Employees may be able acquire information easily and make more informed decisions as a result, which may improve knowledge management.

AI is transforming how organizations manage their knowledge, data, and information. While there are many prospects for enhanced productivity and efficiency, organizations also need to be mindful of the difficulties that come with implementing it.

The Industrial Revolution and Artificial Intelligence Organizations' knowledge management operations have been significantly impacted by 5.0, which brings with it possibilities as well as challenges that need to be handled effectively.

Name        : P.N.M.Fernando

Index No   : 204154

 Booming and Shrinking Careers in the age of AI.

(The Summary of WAYACIM Round Table Discussion)

The Concept of Artificial Intelligence (AI)

• Artificial intelligence (AI) is the simulation of human intelligence processes by machines, especially computer systems. In other words, Artificial intelligence is the intelligence of machines or software, as opposed to the intelligence of humans or animals. It is a field of study in computer science which develops and studies intelligent machines. 

• Artificial Intelligence originated and evaluated by time to time with the revolution of Industries. There are two concepts as Digitization and Digitalization. Digitization focuses on converting and recording data, Digitalization is all about developing processes and changing workflows to improve manual systems. For an example in year 2000 people use manual techniques to do agricultural activities but now they do Smart agriculture, Farms, Agricultural zones with the use and help of AI. This may cause to the new era in Artificial intelligence (AI). Internet of Things (IOT), Cloud Computing, Virtual Reality, Augmented Reality, Blog Chain are some examples.

• And also when we are considering about Technology, now it’s using Big data that meanings generating new content. Chat GP is the best example. In some cases, Artificial General Intelligence (AGI) is working equally as humans, In Artificial Supper Intelligence (ASI) they work better than humans. Here there is a multiple corporate level between Humans and Artificial Intelligence.

 How Artificial Intelligence (AI) impact with the Industrial Changing?

• With the use of Artificial Intelligence (AI) lot of manual work become computerized. For an example in company recruiting processes earlier they use Applications, Newspaper Advertisements etc. But in now cases they are done by computer systems.(Online Applications, Job Vacancy sites such as Top Jobs etc.)

• Another example in Hotel Industry, they collect customer reviews about the hotel experience by using customer surveys. It is also a good improvement in AI. So they can rank their hotel is in good position or not. 

• Tea Factories in Sri Lanka use Robotic Technology for their packaging. Eg; Dilma Company.

• Not only that but also private sector do massive investments on Artificial Intelligence (AI).

In the HR point of View, what are the career opportunities of Artificial Intelligence (AI)?

• Actually Artificial Intelligence (AI) is a Tool not an Competitor. But majority of people think that AI is an enemy or Competitor. By Using AI companies can increase their productivity level. As well as it increases the standard of living. 

• Some jobs are loosing by AI but not all the jobs and careers. Human Emotional related jobs (Brain and Heart related) are still remain. They are never replaced by using AI. Because human touch is needed. Eg; HR Managers (Grievance handling / Mentoring / Coaching)

• But in some cases we have to increase our skills like creativity, Innovation thinking to remain in the future job field and careers. Eg; Data Scientist, Tele Marketing.

What are the Industry Expectations that they are expect from job holders?

• They are looking for Business Translators who can convert data into Business Intelligence, Interference and Independent. For an example, now the whole JD is changed in the organizations.

• For take those opportunities  we have to increase our communication skills, collaborative skills, leadership skills, critical thinking, General common senses, Agility, Adoptability in the age of Artificial Intelligence (AI). 

• According to the Future Job Report 2023 there will be 44% of core skills are replaced in 2025.

In conclusion, we can understand that Artificial Intelligence (AI) is a tool not an competitor. And also to get an career opportunities at the age of AI we have to reskill and upskill our soft skills as well as personal qualities (Personal Development). Keep learning is also a good method. 

"Don't be a monkey in the room." Try to break the rules in a good manner. Come over there with creative solution for your life.

Name       : K.S.Shakila

Index No  : 204509