World-renowned economist Klaus Schwab, Founder and Executive Chairman of the World Economic Forum, explains that we have an opportunity to shape the fourth industrial revolu­tion, which will fundamentally alter how we live and work. Schwab argues that this revolution is different in scale, scope and complexity from any that have come before. Characterized by a range of new technologies that are fusing the physical, digital and biological worlds, the developments are affecting all disciplines, economies, industries and governments, and even challenging ideas about what it means to be human. Artificial intelligence is already all around us, from supercomputers, drones and virtual assistants to 3D printing, DNA sequencing, smart thermostats, wear­able sensors and microchips smaller than a grain of sand. But this is just the beginning: nanomaterials 200 times stronger than steel and a million times thinner than a strand of hair and the first transplant of a 3D printed liver are already in development. Imagine “smart factories” in which global systems of manu­facturing are coordinated virtually, or implantable mobile phones made of biosynthetic materials. The fourth industrial revolution, says Schwab, is more significant, and its ramifications more profound, than in any prior period of human history. He outlines the key technologies driving this revolution and discusses the major impacts expected on government, business, civil society and individu­als. Schwab also offers bold ideas on how to harness these changes and shape a better future—one in which technology empowers people rather than replaces them; progress serves society rather than disrupts it; and in which innovators respect moral and ethical boundaries rather than cross them. We all have the opportunity to contribute to developing new frame­works that advance progress.

This second edition of the classic textbook has been written to provide a completely up-to-date text for students of mechanical, industrial, manufacturing and production engineering, and is an indispensable reference for professional industrial engineers and managers. In his outstanding book, Professor Katsundo Hitomi integrates three key themes into the text: * manufacturing technology * production management * industrial economics Manufacturing technology is concerned with the flow of materials from the acquisition of raw materials, through conversion in the workshop to the shipping of finished goods to the customer. Production management deals with the flow of information, by which the flow of materials is managed efficiently, through planning and control techniques. Industrial economics focuses on the flow of production costs, aiming to minimise these to facilitate competitive pricing. Professor Hitomi argues that the fundamental purpose of manufacturing is to create tangible goods, and it has a tradition dating back to the prehistoric toolmakers. The fundamental importance of manufacturing is that it facilitates basic existence, it creates wealth, and it contributes to human happiness - manufacturing matters. Nowadays we regard manufacturing as operating in these other contexts, beyond the technological. It is in this unique synthesis that Professor Hitomi's study constitutes a new discipline: manufacturing systems engineering - a system that will promote manufacturing excellence. Key Features: * The classic textbook in manufacturing engineering * Fully revised edition providing a modern introduction to manufacturing technology, production managment and industrial economics * Includes review questions and problems for the student reader

Technology has created innovative new prospects for manufacturing industries with Industry 4.0 and has helped further the growth of the manufacturing sector. This book focuses on the next stage, which is Industry 5.0, and the steps in taking automation to that next level by increasing processes and operational efficiency, as well as reducing workforce size. Industry 5.0: The Future of the Industrial Economy discusses the integration of product, process, machine, software, and industrial robots in realizing Industry 5.0. It covers the dual integration of human intelligence with machine intelligence and reviews the results of making use of Industrial Internet of Things (IIoT) and Artificial Intelligence (AI). The creation of a new category of robots named Collaborative Robots (Cobots) specifically designed to speed up the manufacturing process and profitability is explored. This book also explores how to reduce waste in product design through the manufacturing process and offers more personalized and customized products for customers. Manufacturing, design, industrial, and mechanical engineers, as well as practicing professionals, will find this book of interest. Management executives, CIOs, CEOs, IT professionals, and academics will also find something of value in this book that takes Industry 4.0 to Industry 5.0 and beyond.