The Role of Industry 5.0 in Advancing AI-Driven Predictive Analytics in Business Operations

Mihalj Bakator (), Dragan Ćoćkalo () and Milan Nikolić ()
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Mihalj Bakator: Technical Faculty "Mihajlo Pupin" in Zrenjanin, University of Novi Sad, Republic of Serbia
Dragan Ćoćkalo: Technical Faculty "Mihajlo Pupin" in Zrenjanin, University of Novi Sad, Republic of Serbia
Milan Nikolić: Technical Faculty "Mihajlo Pupin" in Zrenjanin, University of Novi Sad, Republic of Serbia

No 19, Proceedings of the 5th International Conference "Economic and Business Trends Shaping the Future" 2024 from Faculty of Economics-Skopje, Ss Cyril and Methodius University in Skopje

Abstract: This paper analyzes the synergistic integration of AI-driven predictive analytics within Industry 5.0, emphasizing its transformative impact on business operations across various sectors. It highlights the role of artificial intelligence in enhancing human-machine collaboration to create more responsive, sustainable, and personalized manufacturing environments. Through detailed analysis, the paper notes how AI not only optimizes operational efficiencies but also enables the personalization of products and services, thus meeting diverse consumer needs with unprecedented precision. The study proposes a theoretical model comprising three main elements: the enterprise, AI-driven predictive analytics, and the enterprise in Industry 5.0. The paper offers comprehensive strategies for governments, enterprises, and individuals to improve problem-solving and foster innovation within the rapidly evolving industrial landscape.

Keywords: Industry 5.0; AI solutions; Predictive Analytics; Business (search for similar items in EconPapers)
JEL-codes: L60 M11 M21 (search for similar items in EconPapers)
Pages: 8 pages
Date: 2024-12-15
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