Industry 5.0 paradigm transformation adoption in developing countries: an analytical game theoretic model
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View abstract on PubMed
Summary
This summary is machine-generated.This study models Industry 5.0 adoption in developing nations using game theory. It analyzes Industry, Government, and workforce interactions to identify optimal strategies for sustainable growth and competitive advantage.
Area Of Science
- Economics
- Industrial Engineering
- Technology Management
Background
- Developing countries face unique challenges in adopting advanced technologies.
- Industry 5.0 integration requires collaboration between Industry, Government, and the workforce.
- Socio-economic factors significantly impact technological diffusion.
Purpose Of The Study
- To develop a tripartite game model for analyzing Industry 5.0 adoption in developing countries.
- To investigate the strategic interactions and incentives among key stakeholders.
- To identify critical factors influencing successful Industry 5.0 implementation.
Main Methods
- Game theory analysis of stakeholder interactions.
- Equilibrium analysis to determine optimal strategies.
- Consideration of socio-economic constraints specific to developing nations.
Main Results
- Identified dynamic incentives and trade-offs influencing adoption decisions.
- Provided insights into optimal strategies for Industry, Government, and workforce.
- Highlighted critical success factors and barriers to Industry 5.0 adoption.
Conclusions
- The game model offers a framework for understanding Industry 5.0 adoption dynamics.
- Findings provide policy implications for governments and strategies for industries.
- Successful Industry 5.0 implementation is achievable through strategic stakeholder collaboration.
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