Converging on human-centred industry, resilient processes, and sustainable outcomes in asset management frameworks

Abstract

The objective of increasing productivity while optimizing operational and organizational processes has focused Industry 4.0 (I4.0) on technological development without considering the impact of technology on people and the impact of mass production on the environment. These impacts have led to growing concerns about climate change and complex global risks. A new vision of the industry, called Industry 5.0 (I5.0), has emerged within the scientific community. This human-centred industry appears to be a bold turn from individual technologies to a systematic approach that enables industry to achieve societal and environmental goals beyond economic growth. Under this approach, the question is no longer whether asset management should change, but what that transformation should look like.