Business impact of industry 5.0 in a meaningful work context

Meaningfulness of the work is an essential concept when introducing Industry 5.0 and novel technologies to workers in manufacturing environments. It affects not only technology adaptation but also worker efficiency and ultimately business outcomes.

This paper presents findings from four Finnish companies on their path towards Industry 5.0 adoption. As industry 5.0 advances, companies must address both digital transformation and sustainability needs. The companies presented in this study adopted selected Industry 5.0 technologies within a research project focused on the meaningfulness of work. In addition to adopting new work practices, the companies had already implemented several Industry 4.0 and Industry 5.0 practices based on their technological maturity and business priorities. In this study, we examine how participating companies perceive Industry 5.0 from a business perspective, how they expect Industry 5.0 to change their business, what challenges they foresee, and how they anticipate their earnings models and value-capture mechanisms will evolve under Industry 5.0 in the context of their work transformations. Research data was collected through semi-structured interviews with four engineering and manufacturing companies.

Our findings indicate that companies expect faster and more transparent design and production, data assets monetization becomes relevant, new opportunities will emerge for technology SMEs and companies will transform from product providers to strategic digital lifecycle partners. Hybrid teams (human + AI) will form basis of operations and human work focuses on expert level supervision. However, uncertainty remains regarding how emerging technologies - especially AI – will affect the broader business and operational environment. Sustainability, value-based thinking and novel earning models are emerging but require a clearer understanding of what constitutes value and what position the company holds within the ecosystem. Data integration, data management and ecosystem collaboration are becoming critical for companies to succeed in Industry 5.0, where traditional industry boundaries are dissolving and new opportunities emerge for organisations with the right competences.