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What is AI and Data Analytics

Chapter 16

Big Data Analytics Techniques for Market Intelligence

It industries can make data-driven decisions faster and more accurately. AI systems can analyze vast amounts of data from various sources to identify patterns, trends, and anomalies, aiding in predictive maintenance, quality control, and supply chain optimization.

Published in Chapter:

AI and Big Data Analytics Revolutionizing Industry 5.0: Unlocking the Power of Smart Manufacturing and Beyond

Shweta Dewangan (ICFAI University, India) and Sanjeev Kumar (Lovely Professional University, India)

Source Title: Big Data Analytics Techniques for Market Intelligence

DOI: 10.4018/979-8-3693-0413-6.ch016

Abstract

This study intends to investigate the application of artificial intelligence (AI) technologies in Industry 5.0, concentrating on the joint component that promotes interaction and collaboration between humans and machines. The artificial intelligence may improve human capacities, increase productivity, and make it easier to establish new business models. In addition, the study examines the ethical concerns and societal repercussions related to the use of AI in Industry 5.0. The research outlines critical success factors, difficulties, and best practices for effectively collaboratively leveraging AI within the framework of Industry 5.0. The results of this research provide organizations and policymakers with insights and recommendations that can help them use the synergy of AI and Industry 5.0 to generate collaborative innovation and achieve sustainable growth. Human-centricity, socio-environmental sustainability, and resilience are some of the aims that Industry 5.0 has the potential to support.

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