Industry 5.0 expands upon and completes Industry 4.0. It emphasizes elements that will determine factors for the position of industry in the future European society, not just economic or technological ones. These factors also have aspects related to the environment, society, and fundamental rights. Industry 5.0 should not be viewed as a replacement for the current Industry 4.0 paradigm or as a chronological continuation of it. It is the outcome of an exercise that looked towards the future to help frame how European industry and new societal trends and needs could coexist. The report contributes to the larger discussion on industrial change.

There is no better time to introduce the new idea of Industry 5.0. In order to remain the solution provider for all Europeans, many European industries are reinventing themselves, adjusting to the new COVID reality, and increasingly embracing digital and green technologies. The time is now to implement more sustainable production practices, create more resilient supply chains, and make workplaces more inclusive.

The society will change as a result of a transformed industry. This is particularly true for industry workers, whose roles might change and call for new skills. Action in a variety of areas will be required to make the transition to Industry 5.0.