Identification of barriers and their mitigation strategies for industry 5.0 implementation in emerging economies

Abstract

The adoption of Industry 5.0 is gaining momentum; however, the research is in the nascent stage, particularly in the context of developing countries. Existing studies explore a limited number of barriers applicable to a particular context. The purpose of this paper is to identify an exhaustive list of barriers, empirically examine their ranking, and evaluate interdependencies at the organizational level for Industry 5.0 implementation. To do so, we conduct a detailed literature review, collect experts' inputs, find barriers, and investigate causal relationships using a multi-criteria decision-making approach, namely the decision-making trial and evaluation laboratory method (DEMATEL). The results indicate that the barriers associated with costs and funding system, capacity scalability, upskilling, and reskilling of human labor are perceived as the most prominent barriers. Finally, we consider inputs from experts and present a detailed account of identifying suitable strategies to combat the identified potential barriers using the “Green, Resilient and Inclusive Development’’ (GRID) framework. This study advances the research of Industry 5.0 through its barriers identification and modelling, and its findings can be used by policymakers or other major stakeholders to frame and prioritize strategies to accelerate Industry 5.0 in organizations.