Society 5.0 Driven by Industry 4.0 Revolution in an Era of Global Pandemic

Imagine a society that solves problems and creates value instead of leveraging economies of scale; a society where diversity is celebrated; a society where equal opportunities exist for everyone and not just a small concentration of elites; a society where people can confidently live and pursue ambitions without a of constant fear of vulnerability; a society where humankind lives in harmony with nature instead of placing high stress on the environment due to mass consumption of resources. This is Society 5.0 as defined by Japan at the 2019 World Economic Forum.

The push towards new societal paradigms are driven by the Industry 4.0 Revolution and rapid digital transformation in many aspects of our everyday lives. For instance, the growing usage of AI and Big Data technology have placed all sectors at global inflection points with respect to financial transactions, industrial structure, private life and public administration. Already, parts of many industries are exploring how Big Data and AI technology can improve customer experience, reduce expenses, enhance compliance efforts and help companies increase revenue by facilitating their expansion into new markets. Eventually, decentralized AI and Big Data may even render many existing public services obsolete.

In the era of COVID-19, all enterprises are being challenged to digitize their business to protect employees and serve customer-facing mobility restrictions. This has resulted in a historic deployment of remote work and digital access to services across every domain. A recent study by McKinsey Digital shows that we have vaulted five years forward in consumer and business digital adoption in a matter of around eight weeks. Shelter-in-place and lockdowns mandated by several countries have resulted in in-person service for most businesses disappearing overnight. On the positive side, there may be significant carbon emission reductions, which could result in renewed focus on sustainability practices.

In his presentation, Andy Chen will highlight some of the work his fellow IEEE members have done around the globe in advancing research in the fields of AI and Big Data. He will also share his insights on future trends as disruptive technologies dominate the world significantly and impact research, academia, education, governments, and industry.