MARCH 202419INDUSTRY INSIGHTSTAPPING THE POTENTIAL OF A HUMAN-CENTERED INTELLIGENT SOCIETY IN THE AI ERAIn the past decade, the concept of Industry 4.0, pioneered by Germany, has captured the imagination of industrialized nations, worldwide. It revolves around the creation of "intelligent factories" where machines possess the ability to monitor and make decentralized decisions regarding production and maintenance. However, Japan has taken a step further by envisioning "Society 5.0," a technology-driven society that places humans at its core. Society 5.0 aims to transcend industrial transformation and build a "Super Smart Society" where innovative technologies such as machine learning, artificial intelligence, robotics, and big data are integrated to address various social challenges. Society 5.0 tackles these challenges through three broad categories: Mobility, Home, and Business. Under Mobility, autonomous driving and fleet systems leverage obstacle detection, environmental recognition, and energy-saving technologies like advanced power devices, lithium-ion battery systems, and contactless power supply systems. The Home category encompasses home automation innovations, such as smart appliances and lighting, along with sensing solutions like facial recognition entry control to detect suspicious activities. Additionally, lifestyle data analysis and emotion recognition based on behavior and activity information play a bigger role. Finally, the Business category incorporates cutting-edge technologies like the Internet of Things (IoT), machine learning, artificial intelligence, cloud and edge computing, and blockchain to optimize enterprise activities across various sectors. Market Prospects Market forecasts indicate promising prospects for the digital economy, particularly in India. It is estimated that India's digital economy will surpass $ 1 trillion within the next 5-7 years, with key technologies such as IoT, machine learning, artificial intelligence, and cybersecurity playing significant roles. The IoT market alone is projected to expand at a compound annual growth rate (CAGR) of 17 percent. A Manish Misra has more than two decades of experience in driving innovation to shape future products and solutions for Panasonic in India and other markets. Manish started his career with IBM, where he holds a graduation degree in computer science engineering from the Indian Institute of Technology (IIT, Varanasi).By Manish Misra, Chief Innovation Officer, Panasonic Life Solutions IndiaManish Misra Chief Innovation Officer
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