The 20th Global Conference at Prestige Institute of Management and Research (PIMR), Indore, witnessed an extraordinary exchange of ideas as thought leaders, academicians, and industry experts from around the world explored the paradigm shift brought by Industry 5.0. With over 150 participants, the conference focused on the evolving synergy between humans and artificial intelligence, emphasizing a future where technology amplifies human potential rather than replacing it.
The conference commenced with an inspiring address by Dr. Davish Jain, Chairman of Prestige Education Foundation and Chancellor of Prestige University. He described Industry 5.0 as more than just a technological transformation, calling it a new revolution that fosters collaboration between humans and intelligent systems. “Industry 5.0 teaches us that technology should not be confined to automation and efficiency alone. It must integrate human creativity, empathy, and self-reliance. This revolution will play a pivotal role in making India self-sufficient,” he said.
PIMR Group Director, Dr. S.S. Bhakar, emphasized that the conference serves as a crucial platform to prepare the next generation for future industries.
Arpan Bhardwaj, Vice-Chancellor of Vikram University and the conference’s chief guest, traced the journey from the first to the fifth industrial revolution, highlighting its impact on industries and society.
“The First Industrial Revolution introduced machines, the Second scaled production, the Third brought automation, and the Fourth advanced smart technologies. However, the Fifth Industrial Revolution is not just about technology—it is a human-centric revolution where machines will assist rather than replace us,” he explained.
Prof. Siddharth Rajhans, Global Ambassador and Diplomat at Prestige Group, delved into the evolution from Web 1.0 to Web 3.0 and the advancements shaping Industry 5.0. "As we accelerate into the digital era, we must remember that technology exists for humans, not the other way around. Machines should be viewed as complements to human intelligence, not replacements," he remarked.
Supreme Court Advocate Dr. Suraj Singh provided a philosophical perspective, stressing the need for ethical considerations in AI.
"Incorporating human morality into artificial intelligence is essential. The four life objectives—Dharma, Artha, Kama, and Moksha—must remain relevant even in a technological age. While AI can enhance our lives, it must never overpower our core human values," he stated.
Dr. Justin Papal, Provost of Management Education at NMIMS and Dean of the School of Business Management discussed the benefits and potential risks of AI.
“Technology, if used wisely, can drive progress, but its misuse can erode ethical values. India must take cues from nations like Japan and South Korea and focus on innovation-led growth,” he advised.
In recognition of his outstanding contributions to management, Dr. Papal was honored with the PIMR Management Excellence Award.
Ajay Sewakarny, Managing Director of Prospera, drew attention to the role of AI in sustainable development. "AI should not be confined to automation; it must be leveraged for environmental sustainability and responsible industrial growth," he noted.
