Economics & 5IR model: Towards a competitive and sustainable economic path
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Abstract
The objectives of this study are to identify the 5I- revolution in terms of the concepts and the main pillars on which it is based, in addition to pointing out the fundamental differences between the previous industrial revolutions. To achieve these objectives, a descriptive method is employed with its analytical tools. The findings revealed that, there is a direct impact on the economy as a key through the development of productivity (smart production) based on technology and data in design. Besides, accessing the sustainability model, human resources and machine and achieving sustainable economic growth are important features in building a smart economy. To sum up, The 5.0 is key to the global economy, it is suggested to develop human resources (smart HR), use of automation in the economy (operations & process) and achieve integration between Sustainability & HR.
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