From Industry 4.0 to Industry 5.0: Challenges and Opportunities of Evolutionary Transition in Russia

Olga Romanova () and Evgeny Kuzmin ()
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Olga Romanova: Institute of Economics of the Ural Branch of the Russian Academy of Sciences
Evgeny Kuzmin: Institute of Economics of the Ural Branch of the Russian Academy of Sciences

A chapter in The Future of Industry, 2024, pp 55-72 from Springer

Abstract: Abstract The evolutionary transition from Industry 4.0 to Industry 5.0 inevitably influences all the aspects in the socio-economic life. It requires stakeholders not only to reconsider approaches to production and management, but also to form new strategic developmental directions on principles of sustainability, innovativeness, and human centricity. With regard to these challenges, an analysis of a development trajectory for Industry 5.0 in Russia is getting particularly important, taking into account the unique national socio-economic and political context. The authors explore key aspects in the development of Industry 4.0, including digital transformation, outline dominating patterns and principles of Industry 5.0. The review of research papers, expert reports, and cases of manufacturers’ practice has shown that the new economic model is being actively established in Russia. The aspiration towards technological sovereignty is its descriptor. Despite external and internal challenges, Russia has a significant potential to implement Industry 4.0 and Industry 5.0 concepts. This includes both production and introduction of innovations, and human capital development. The authors identify the prevailing challenges that might slow down or complicate the transition to Industry 5.0. At the same time, they outline the opportunities related to more active involvement of internal resources and the development of new forms of cooperation. One of key findings is that the governmental industrial policy plays a critical regulatory role to encourage the technological development and support the transition to Industry 5.0. Authors point out to the need for strategic planning taking into account today’s global trends, investments in research and education, as well as creating conditions for innovative entrepreneurship development. The research contributes to understanding of the prospects and challenges that Russia faces on its path to Industry 5.0. The research emphasizes the importance of coordinated efforts that all the stakeholders make in this process and a clear strategic direction that the government provided.

Keywords: Digital transformation; Industrial policy; Industry 4.0; Industry 5.0; Sustainable development (search for similar items in EconPapers)
Date: 2024
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DOI: 10.1007/978-3-031-66801-2_5

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