How Industry 5.0 impacts you and your business

AFA News 3 December 2020. We’re currently living in Industry 4.0 – all about the connectivity of devices (mobiles, smart TVs, GPS, health monitors like Fitbit, home AI like Alexa) where data is being collected and connected in ways we don’t really fully realise. Quick Poll: how many of us read the T&Cs of apps we download onto our smart devices? You’ll be amazed at what information you’re handing over!

The idea of Industry 5.0 is how do we put humans at the centre of all technologies that we allow into our lives, at the centre of how our governments work with us and how we work with our governments.

Where are the risks as to how you operate based on a future that is more changeable than any experience we have ever had, even without the COVID-19 pandemic lens? Dr Catherine Ball discusses how the pandemic has accelerated how these technologies are going to be used; how they may impact your business and delves into the topics of safety and risk. Society’s appetite for safety and risk is completely changing, and also the idea of personal safety, community safety, national safety – these are conversations that your clients and potential new clients will be wanting to have with you – to set themselves up to be more malleable to the change as we go forward.

One example is cyber-attacks. Not so fun fact. We have 200 cyber-attacks coming into Australia per second. Cyber security underpins everything we do in our businesses. The more digital we are, the more at risk we are. Imagine a cyber security version of the pandemic and the impacts?

For fascinating insights into the world of Industry 5.0, check out Catherine’s keynote speech at our VISION 2020 AFA Virtual Conference. We thank AIA for bringing Catherine to our conference. Members wishing to watch Catherine’s keynote (and who have not previously registered for conference) can register for all of the conference content available on-demand at a reduced rate by visiting the conference website. Access over 41 hours of content and up to 36 CPD hours through to 12 February 2021.

Issued 03.12.2020. AFA News