Vulnerability and the Future of Small Business in Industry 5.0

Industry 5.0 is the next phase of the industrial revolution, focusing on the harmonious coexistence of humans and high-tech systems based on the principles of artificial intelligence. However, small businesses are still in the early stages of adopting Industry 5.0 technologies, and small businesses in developing countries still see it as a mystery because of their vulnerabilities. This book explores the vulnerabilities that exist within the SME ecosystem and the significance of small businesses in our daily lives. With a balance of theoretical and empirical chapters, this book will lead the way in exploring small businesses and their future in Industry 5.0, with particular relevance to emerging markets. With well-researched academic findings and forward-thinking insights from diverse authors, it will push forward research in the growing area of Industry 5.0 and artificial intelligence and will be vital reading for academics and practitioners interested in this field.

Timilehin Olasoji Olubiyi is a seasoned Nigerian professional, scholar, senior government adviser, and columnist with many years of hands-on experience and backgrounds in investment banking, fund management, stockbroking, consulting, academia, training, business administration, research, and entrepreneurial development. Dr Olubiyi is a senior lecturer and Dean of the Faculty of Management and Social Sciences at West Midlands Open University, Nigeria. He is also an adjunct lecturer at the Department of Business Administration and Marketing at Babcock University, Nigeria, and a facilitator and project supervisor at the Department of Business Administration, at the National Open University of Nigeria. Through his research, collaborations, and advocacy, he continues to influence the landscape of sustainable business practices, particularly within the context of SMEs.