Week 3: Case Study Group: FEP-KLTSA Business Challenge
Week 3
Adapting to Society 5.0 and Developing Essential Entrepreneurial Skills
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| (Securing Society 5.0 - Marin Ivezic, n.d.) |
Introduction to what is Society 5.0
Globalization and the quick development of digital technologies, such robotics, artificial intelligence (AI), and the Internet of Things (IoT), define the modern era we are currently going through. The environment and people's values are becoming more varied and complicated as a result of these advancements, which have significantly impacted society. According to the present or past Society 4.0, which concentrates on an information society that uses information networks for information analysis by humans at most of the times.
The Sustainable Development Goals (SDGs) are the main objective of the 2030 Agenda for Sustainable Development, which was endorsed by the United Nation in 2015 (Fukuyama, 2018). The Japanese government's envisioned Society 5.0 is an embodiment of this concept. It was developed by the Council for Science, Technology, and Innovation and authorized by the Cabinet in January 2016 as part of the 5th Science and Technology Basic Plan.
Hence, Society 5.0 that is introduced by the Japanese government is a concept that its goal is to create a human-centric society in which both economic development and solving societal challenges at the same time, whereby the people of the community or society can enjoy a high quality of life that is active and comfortable.
The national vision put forward aims to create a new, human-centered society while simultaneously addressing a number of societal problems, such as balancing economic growth with the solution of social problems and merging. real and virtual space with cutting-edge technologies.
Evolution of Society
Society has been characterized by vibrant change, and this has offered a strong blow to business. A little over twenty to twenty-five years ago, you could hardly hear about Digital Marketing, but as we speak today, almost seventy-three percent of companies use Digital Marketing to reach out to potential customers. The fact that our colleges take 1114 to 1418 months to deliver a 3-4 year program to acquire this expertise is evidence of its importance to businesses. In order to determine the significance of the role and character of PA in this environment as well as to consider the implications of digital technologies and platforms it is important to better understand what is meant by digital technologies and platforms. Hence, it is crucial for entrepreneurship to be interested in digital technologies and their effective influence on the client engagement, marketing strategies, and business processes.
Another impact of change is the sustainability of the environment in the current society. It is now almost crucial for business people to enter the environmental solution and try to reduce one's carbon footprint. It involves a process of using environmentally friendly products, minimizing the use of non-recyclable materials, and adopting efficient energy-using processes. Another major change that has emerged includes; - Social media pages and instant communications where corporate level of transparency and accountability have been set to a higher level. A number of things that workers anticipate from the employers include; The workers should be held responsible for their actions and decisions and Should not utter lies in their line of duty. This includes genuine advertisement of the business to everyone, reporting to anyone who wishes to invest in the business at the right time and appropriate manner, and having a quick solution to any adverse situation that occurs in the business.
Features of Society 5.0
Society 5.0 integrates technology, people, and the natural world to represent the next phase of social growth. Here are a few of its key features :
In Society 5.0, super-smart AI data systems are used to solve societal challenges in a human-centered and technologically and economically balanced manner (Dinis, 2023).
Society 5.0 is described as a data-driven society. Through the integration of human-centered principles into these new procedures, it is important to empower individual Japanese and global citizens to be actively involved in decision-making, leading to a more flexible and rapid transformation of society (Deguchi,2020).
Realizing the full potential of Society 5.0 requires cooperation amongst all stakeholders, including government, business, academia, and civil society. This will promote innovation and make it easier for new technologies to be adopted.
This vision places a strong emphasis on lifelong learning, giving people the ability to continuously learn new skills and adjust to the rapidly changing demands of the digital age.
In the face of possible threats and emergencies, Society 5.0 places a high priority on readiness and resilience, using technology to improve social response systems and reduce vulnerabilities.
Adapting/Changing/Improvising to Society 5.0
In Society 5.0, super-smart AI data systems are used to solve societal challenges in a human-centered and technologically and economically balanced manner (Dinis, 2023).
Society 5.0 is described as a data-driven society. Through the integration of human-centered principles into these new procedures, it is important to empower individual Japanese and global citizens to be actively involved in decision-making, leading to a more flexible and rapid transformation of society (Deguchi,2020).
Realizing the full potential of Society 5.0 requires cooperation amongst all stakeholders, including government, business, academia, and civil society. This will promote innovation and make it easier for new technologies to be adopted.
This vision places a strong emphasis on lifelong learning, giving people the ability to continuously learn new skills and adjust to the rapidly changing demands of the digital age.
In the face of possible threats and emergencies, Society 5.0 places a high priority on readiness and resilience, using technology to improve social response systems and reduce vulnerabilities.
The future of smart human-centered service systems and the advent of Society 5.0 envision a highly interconnected, intelligent society where digital transformation enhances all aspects of life, including business industries such as construction, services, and technology. Smart services are poised to play a crucial role in this future, driving innovation and adaptation across various sectors.
In the construction industry, smart service systems are set to revolutionize project design, management, and execution. Several projects funded by the National Science Foundation (NSF) demonstrate the potential of intelligent environments. For instance, a multimodal-sensor-enabled environment developed by Rensselaer Polytechnic Institute in partnership with IBM can significantly enhance construction site management. This cognitive immersive environment utilizes facial recognition and advanced cognitive computing to track workers, manage project timelines, and automate task assignments. Such technologies promise to improve safety, increase efficiency, and reduce human error on construction sites.
The service industry stands to benefit significantly from smart human-centered systems. Projects focused on creating intelligent environments aim to facilitate human interactions and enhance customer experiences. One example is the use of ambient intelligence in meeting spaces, where cognitive computing can mediate between presenters and attendees, take notes, and manage the flow of meetings. This technology can be adapted to customer service environments, where smart systems could assist customers, streamline service delivery, and provide personalized experiences.
To implement the skills, a focus on integrating technology with human capabilities is crucial. Entrepreneurs need to embrace technology and use it as a tool to enhance business operations and competitiveness in the digital marketplace. Entrepreneurs must have the agility to adapt quickly and optimize resources. This is because, with rapid changes in technology, adapting quickly can meet the demands of the digital marketplace and stay ahead in business competition. Additionally, business processes can be maximized to ensure efficiency and productivity in Society 5.0.
The Covid-19 pandemic has drastically changed society, necessitating a shift to non-physical interactions and extensive use of networks or internet connections (Ferriswara et. al., 2023). Society 5.0 offers a human-centered society that strikes a balance between economic progress and solving social problems through a highly connected system combining cyberspace and the real world (Ferriswara et. al., 2023). Thus, by implementing and integrating the skills in Society 5.0 where humans and Artificial Intelligence are involved, entrepreneurs can effectively implement the set of skills by fostering innovation, sustainability, and competitiveness in the evolving entrepreneurial landscape.
It is imperative to adopt cutting-edge technologies and develop core entrepreneurial skills in order to adapt to Society 5.0. To succeed in this new paradigm, one must prioritize moral conduct, inventiveness, collaboration, and education. By encouraging adaptability, critical thinking, leadership, and financial literacy, people and organizations may successfully traverse the challenges presented by Society 5.0 and take advantage of its potential. We can solve societal issues and create a sustainable, human-centered future by fostering social entrepreneurship, corporate innovation, startups, and supporting laws. In our increasingly linked world, the significance of proactive adaptation and ongoing learning cannot be emphasized. Adopting these tenets will allow us to take advantage of cutting-edge technologies such as artificial intelligence, the Internet of Things, and big data, ensuring that innovation serves society as a whole. As these areas are prioritized, we not only better equip ourselves for the future but also help to build a more just and resilient society. For individuals who are prepared to keep learning and evolving, there are plenty of opportunities along the way to Society 5.0.
References
Deguchi, A. et al. (2020). What Is Society 5.0?. In: Society 5.0. Springer, Singapore. https://doi.org/10.1007/978-981-15-2989-4_1
Dinis, G. (2023, August 9). Society 5.0: The Concept Of A Human-Centered Society.
https://businessabc.net/society-5-0-the-fundamental-concept-of-a-human-centered-society
Ferriswara, D., Augustinah, F., Listyawati, L., & Lestari, D. S. (2023). Entrepreneurial Opportunities and Challenges in the Era of Society 5.0 to achieve sustainable performance. Ferriswara | International Journal of Multicultural and Multireligious Understanding. https://doi.org/10.18415/ijmmu.v10i9.5062
Fukuyama, M. (2018). Society 5.0: Aiming for a New Human-Centered Society. Japan SPOTLIGHT, 47-50.
Ltd, H. (n.d.). Society 5.0: Aiming for a New Human-centered Society : Japan’s Science and Technology Policies for Addressing Global Social Challenges : Hitachi Review. Www.hitachi.com. https://www.hitachi.com/rev/archive/2017/r2017_06/trends/index.html
Securing Society 5.0 - Marin Ivezic. (n.d.). Www.google.com. Retrieved May 28, 2024, from https://search.app.goo.gl/TguUXbF
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