Racing toward Industry 5.0: Emerging issues, main challenges, and possible solutions

The impetus for future research and analysis on Industry 5.0 can be better understood by identifying the emerging issues, comprehending the existing challenges of Industry 5.0, and working out the possible solutions. In this chapter, the authors focus on three main emerging issues revolving around the topic of Industry 5.0: agility, customization, and digitalization. The chapter further highlights two basic yet prime challenges that companies are facing in implementing Industry 5.0: high upfront cost and lack of technological know-how. Finally, four possible solutions are presented in the context of the said challenges and issues: cost-benefit analysis, technology budget, training, and reskilling and upskilling. Eventually, to keep pace in the Industry 5.0 race, emerging issues are to be realized, the existing challenges are to be addressed, and possible solutions are to be implemented.