LPU’s Mittal School of Business organized a one-day online international conference on the present-day fifth industrial revolution comprising a score of legendary speakers from 16+ countries. The theme of the conference was “Industry 5.0: Human Touch, Innovation and Efficiency (IHTIE)”. Speakers were from top industries and institutions of the USA, UK, Australia, South Africa, Middle East, The Czech Republic, Malawi, Poland, Bangladesh and more.
The conference was in line with SHRM (Strategic Human Resource Management) for vouchsafing “better workplaces; better world”. Session wise, it held many keynote addresses, master classes, panel discussions and technical sessions. These covered the effect of Industry 5.0 across all functional areas like marketing, finance, HR, Operations; and, specific applications such as intelligent healthcare, cloud manufacturing, supply chain management and more.
Comprising 6 “Tracks”, the first one covered the topic ‘From Industry 1.0 to 5.0 – Understanding the change’; second was ‘Industry 5.0 & HR – Humans & Machine Co-working’; and so on next were- ‘Marketing 5.0 – The Future of Marketing through Lens of Technology’; Finance 5.0 -Embracing technology in Banking, Insurance, Finance & Accounting’; ‘Smart & Sustainable Manufacturing Systems for Industry 5.0’; and, ‘Society 5.0 – Integrating Digital & Real World to Resolve Challenges in Business and Society’.
The deliberations at the conference churned out whether present businesses fit in this phase of Industry 5.0. It served as a platform for important deliberations on exploring both the prospects and challenges. It enabled researchers, academicians, professionals, and students from cross-disciplines to interact and disseminate information on industry 5.0, and its impact on business. Here, it was made out that the true potential for progress lies in the collaboration between humans and machines.
In fact, the world of business has experienced a huge transformation due to the continuous growth of industrial revolution in different phases. Presently, industry pioneers and business leaders are looking ahead to the 5th Industrial Revolution (Industry 5.0) focused on leveraging the collaboration between human touch, innovation and efficiency. It is a collaboration between increasingly powerful and accurate machinery from robots, AI, IoTs and the unique creative potential of the human being.
The keynote address was made by Director (Snapdeal) K Ullas Kamath. Other main speakers included President and Project Father IBCSD LAB Czechia, Michael Rada; Pro-Vice Chancellor Prof. (Dr.) Michael Kepell from Taylor’s University Australia; Professor in Enterprise ＆ Entrepreneurship, Brunel University London, Prof. (Dr.) Anirul Rosli; Digital and Technology Leader working with Middle East UAE, Dr. Dani Abu Ghaida; Dean-Business Studies, Northwood University, Ras Al Khaimah UAE, Dr. Indranil Bose; Business Leader, Operations at SHRM India, Archana Jerath; Technical Advisor, African Supreme Audit Institutions (AFROSAI) South Africa, Edmond Shoko; Department of Marketing and International Business North-South University Bangladesh, Dr. Muhammad Sabbir Rahman; and, others.