The service industry in the context of the fifth industrial revolution

The paper examines impacting processes of society and service industry transition to the fifth industrial revolution technologies. This study is a natural continuation of the authors’ scientific research, previously published in the journal “Service PLUS” (2023. Vol. 17. No. 2, pp. 27–35) on the impact of digital transformation on the service industry [1]. The research results have shown that the use of Industry 5.0 technologies contributes to the achievement of a competitive advantage by service organizations. The goal of Industry 5.0 is to achieve sustainable development and place humans at the center of society through technology, that is, the pursuit of anthropocentrism. Profit should be the result of a philosophy based on value and objective reality. Industry 5.0 seeks to coexist with Industry 4.0 rather than start a new industrial revolution. The authors critically analyze mainly modern foreign literature devoted to Industry 5.0. The main directions of the fifth industrial revolution are considered, including the deep integration of artificial intelligence technologies into the industrial landscape as we approach Industry 5.0, which represents a turn towards the harmonious unity of man and machine. At the same time, artificial intelligence becomes a key factor in coordinating this interaction. Among the practical recommendations, we would like to wish managers and employees of service companies to focus on the potential of Industry 5.0 technologies to achieve competitive advantages. The focus remains on personalized service planning, improved logistics, and improved customer service. The introduction of Industry 5.0 technologies requires a careful and balanced approach from the individual and society, taking into account both its advantages and potential threats. The service industry may well use Industry 5.0 technologies to create more comfortable conditions and innovative products for consumers, which will ultimately shape the positive future of both individual organizations and the entire system.