Digital Transformation of Business Processes of Enterprises on the Way to Becoming Industry 5.0 in the Gig Economy

Kraus, Nataliia and Kraus, Kateryna and Manzhura, O. and Ishchenko, I. and Radzikhovska, Y. (2023) Digital Transformation of Business Processes of Enterprises on the Way to Becoming Industry 5.0 in the Gig Economy WSEAS Transactions on Business and Economics, 93 (20). pp. 1008-1029. ISSN 1109-9526

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The purpose of scientific research is discovering the stages, protocols, ways and instruments of becoming the Industry 5.0 through the prism of innovation, technology in management of industry and business, and introducing the features that define the new quality of smart industry, smart business, and smart services among which modularity, interoperability, virtual reality. The rapid emergence of the Industry 5.0 declares new quality of economic relations through innovation, discoveries and technologies in management of industry and business. Key features of the Industry 5.0 include: full automation of the production process; high communication between staff and machine through Internet technologies; cyber-physical systems that integrate into one network, interact in real-time, self-tune, self-study. The structural elements of the ecosystem of Industry 5.0 are presented, and it is proved that they determine an effective digital economic relation that shapes the gig-economy, as a result of step-by-step content of the stages of becoming a smart business, assets, and digital platforms. Tools and mechanisms that will accelerate the emergence of the Industry 5.0 have been identified. The content of the concept “ecosystem of the Industry 5.0” is disclosed. A number of practical measures are proposed, aimed at deepening the development of high-tech industries and expanding the new quality of life of people. The main characteristics that determine the emergence of smart industry and smart services are indicated. The visual section of the structural elements of the Industry 5.0 concept presented in this paper is an attempt to understand the essence of the Industry 5.0 for the reason that it differs significantly from the theory in its incompleteness and lack of verification. The value of the presented research is that the understanding of the Industry 5.0 content is through the prism of its structural elements in the conditions of virtual reality and the functioning of Industry exclusively within the 7th technological system. In order to use all the power of available information technology, authors propose to abandon old processes, rethink the content of work, radically restructure processes and give businesses a new format of cooperation. This requires ensuring the variability, dynamism and adaptability of economic development processes based on digital context. Development of production processes in terms of their digitalization and innovation of the economy is proposed to be divided into stages of standardization, adaptability and predictability, which will allow for consistent digital transformation, which opens fundamentally new opportunities for added value in almost all sectors of the economy.

Item Type: Article
Uncontrolled Keywords: Industry 5.0; digital economy; innovation; gig-economy; digital business; innovative technologies
Subjects: Це архівна тематика Київського університету імені Бориса Грінченка > Статті у наукометричних базах > Scopus
Divisions: Це архівні підрозділи Київського університету імені Бориса Грінченка > Факультет економіки та управління > Кафедра управління
Depositing User: Катерина Миколаївна Краус
Date Deposited: 17 Aug 2023 10:20
Last Modified: 17 Aug 2023 10:20

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