Society 5.0: Reconciling social and business interests
What is Society 5.0? Enhancing technology application to improve well-being
Given that previous iterations of society 1.0 to 4.0 had been largely shaped by agricultural cultivation and industrialisation, Society 5.0, by design, isn’t just another revamp. In short, it simply takes full advantage of what current technology has to offer to become a smart society.
Potentially just as fascinating is the sight where robots are employed in houses and these smart robots communicate with their adopted families. Private conversations will be automatically uploaded to cloud, analysed by AI and downloaded back to the robots to perform a wide range of functions. As a result, millions of conversations will be stored in cloud for monitoring and improvement objectives.
Weaving this new social fabric, Society 5.0 aims to increase the quality of life in a meaningful way rather than just increase the power of technology. The main goal here is to facilitate human prosperity to provide a tailored solution for the supply of goods and delivery of services in relation to how a particular group of consumers require them.
More broadly, wellness is the lofty ideal pursued by Society 5.0. Against the backdrop of current demographic challenges, the suite of technology adopted in Society 5.0 needs to respond precisely to a wide variety of social needs. As such, technology needs to fashion what it can offer in new ways not very common before to accommodate everyone from all tiers of the society. The strategy, on which everything Society 5.0 does is designed to give everyone access to high‐quality services, overcome differences of age, gender, region and language to live a comfortable life.
Learning from the Japanese
In Japan, as part of its Fifth Science and Technology Basic Plan (FY16 to FY20) announced in April 2016, the Japanese government aims to mobilise what it calls a “Society 5.0,” or a “Super Smart Society.” In resonance with this concept, Society 5.0 seeks to provide a common societal infrastructure to enhance citizens’ prosperity based on an advanced service platform.
IT is the make-up of a smart society and connectivity brings a lot of benefits to it. Well ahead of others, Society 5.0 attempts to usher in the transition from a technology-centred approach to a human-centred ideal to take full advantage of the advancement in science and technology, especially A.I.
The approach is two pronged. First is to create a society that can face up to a host of current challenges and then enhance innovations of the fourth industrial revolution. Harnessing the power of digital intelligence, Society 5.0 aims to reshape society by embedding IoT, big data, AI, robotics, and other technologies throughout daily living. By leaning into the opportunity with readily available technologies, the society of the future will continuously create enormous values and services, making living more conformable and sustainable.
Similarly, just as Industry 4.0 is the digital transformation of manufacturing, Society 5.0 tackles Japan’s unique challenges with roots that extend far beyond economic digitalisation in accelerating the digitalisation progress of the Japanese society.
Anticipated progress in IT will continue to provide Japanese citizens with a tremendous window of opportunity that spans innovation, growth, and prosperity through human-machine collaboration and co-creation. However, the development also presents unprecedented ethical, legal, social, security, privacy and safety challenges that need to be addressed before the true benefits of these opportunities can be realised.
In view of this, entrepreneurs need to gather a complete understanding of the key results that they need to achieve in order to power the transformation to Society 5.0. Go over the key imperatives below and figure out which specific areas in your business functions need some timely revamp.
- Entrepreneurs need to rethink the role of business in society.
- Entrepreneurs need to view social business from the perspective of philanthropy—that they too should shoulder the responsibility of creating social impact with their business activities.
- Entrepreneurs should make solving human problems in a sustainable way their prime business objective.
- Entrepreneurs are one of the actors and architects of the future. Therefore, entrepreneurs need to make a conscious effort to reconcile social and business interests, and increase the take-up rate of technology to improve society’s well-being.
Last but not least, to learn more about the topic, you can read the original article here.
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