An extraordinary exchange of ideas took place at the 20th Global Conference at the Prestige Institute of Management and Research ( PIMR), Indore, as thought leaders, academicians, and industry experts from all over the world discussed the paradigm shift brought by Industry 5.0. With over 150 participants, the meeting focused on the evolving interaction between people and artificial intelligence, focusing on a future in which technology enhances human potential rather than its replacement.
Dr. Davish Jain, Chairman of Prestige Education Foundation and Chancellor of Prestige University, delivered an encouraging address at the opening of the event. He referred to Industry 5.0 as more than just a modern change, calling it a new era that promotes human-intelligent methods ‘ interdependence. Market 5.0 teaches us that technology should not be limited to just technology and effectiveness. It must connect individual creativity, empathy, and self-reliance. This revolution will play a key role in making India self-sufficient”, he said.
PIMR Group Director, Dr. S. S. Bhakar, emphasized that the event serves as a critical system to make the next generation for future industries.
Arpan Bhardwaj, Vice-Chancellor of Vikram University and the league’s general host, traced the journey from the first to the second technological revolution, highlighting its impact on industries and society.
” The Initial Industrial Revolution introduced systems, the Next scaled production, the Third brought technology, and the Third advanced smart systems. However, the Second Industrial Revolution is not just about technology—it is a human-centric revolutionary where devices may help rather than replace us”, he explained.
Prof. Siddharth Rajhans, Global Ambassador and Diplomat at Prestige Group, delved into the development from Web 1.0 to Web 3.0 and the progress shaping Business 5.0. We must consider that technology is for people, not the other way around as we progress toward the modern era. Equipment should be viewed as matches to human knowledge, no replacements”, he remarked.
Dr. Suraj Singh, a lawyer for the Supreme Court, emphasized the importance of social factors in AI.
It is crucial to incorporate people morality into artificial intelligence. The four living objectives—Dharma, Artha, Kama, and Moksha—must remain important perhaps in a modern age. While AI can improve our lives, it has not dominate our core individual values”, he stated.
The advantages and potential dangers of AI were discussed by Dr. Justin Papal, the NMIMS Provost of Management Education and Dean of the School of Business Management.
” Technology, if used properly, can drive improvement, but its use can erode ethical beliefs. India has take cues from countries like Japan and South Korea and focus on innovation-led growth”, he advised.
Dr. Papal received the PIMR Management Excellence Award in acknowledgment of his remarkable efforts to control.
Ajay Sewakarny, Managing Director of Prospera, drew attention to the position of AI in sustainable development. AI should not be limited to technology; instead, he urged using it for accountable professional growth and environmental sustainability.