Over the past 10,000 years, the different agricultural and industrial revolutions have provided us access to unimaginable levels of wealth and well-being. With Internet of Things (IoT), big data, nano technology, robots, block chain, drones, 3D printing, biotechnology and Artificial Intelligence (AI) a lot more can be conquered. A lot many ways can emerge to enhance human ability and improve the lives of the multitude. Artificial Intelligence will transform big data collected through the Internet of Things (IoT) into “new wisdom”.
The fourth industrial revolution will enable us to create a new society – Society 5.0. It will be a technology based, human centred society. The fourth industrial revolution will raise our standard of living and solve various challenges we face in our day to day life. It will, for example, free us from the stress of driving allowing us to have more of “me-time”. Through these advancements we can have access to latest medical advancements at a low cost, no matter where we are. New medical and communication technology will allow patients to receive cutting edge medical services. A variety of advancement will aggrandize human ability and expand the unending possibilities, thereby helping us enjoy more fulfilling lives.
Society 5.0 emerging out of Industry 4.0 will also enable social transformation in medical and healthcare., education, mobility and infrastructure. It is true that we still face major challenges. There are still massive asymmetries in the distribution of wealth. To overcome these issues, we humans have devised to design a society of the future with new possibilities and solutions being created continuously by companies, making people’s life more comfortable and sustainable.
Through Society 5.0, the goal is to transform the society from a technology centred to a human centred one. Presently, the status of India in this regard has not been much encouraging. The fourth Industrial Revolution has just started entering the Indian industries. It is yet to touch many sectors of the Indian industry.I as a student of Calcutta Business school hope that will soon see an enhanced society prevail in India, like Japan. In society 5.0 we shall witness an intersection of the virtual, physical and biological dimensions as an opportunity to a super smart society.