How to adapt the society 5.0 and its development, include learning and developing some essential entrepreneurial skills?

 

   

 Society 5.0 was first introduced in the 5^th science and technology basic plan in Japan (Richard, 2021). It is a vision for a human-centered future where technology seamlessly integrates with society to not only propel economic growth, but also to solve problems for the enhancement of human well-being. (Ziatdinov, Atteraya, Nabiyev, 2024). To adapt to society 5.0 and its development; including learning and developing some essential entrepreneurial skills are very important in this dynamic environment. Some of the examples of the skills are  innovation and adaptability, risk management, collaboration and partnerships, and ethical and social responsibility.

Innovation and adaptability

    To adapt to Society 5.0 and its development there are certain skills that new entrepreneurs need to learn and develop, namely innovation and adaptability. Looking at today’s rapidly changing business landscape, new business owners and entrepreneurs must create a culture rooted in innovation and adaptability as it is very crucial to leverage the emerging technologies such as blockchain, which serves as the building blocks for Central Bank Digital Currencies (CBDCs). By allowing innovative technologies entrepreneurs can use the transformative potential of blockchain and create new solutions that are in line with the constantly changing demands of society. Furthermore, adaptability is very important in this hyper dynamic landscape influenced by technological innovations and shifting consumer/market demands. Entrepreneurs must possess the ability to quickly respond to changes and seize new opportunities and change their strategies when needed (Tornjanski & Čudanov, 2021). This skill allows entrepreneurs to always be ahead of the curve and address the wants and needs of consumers demands. By focusing on innovation and adaptability, entrepreneurs can secure themselves a good spot to create meaningful change and shape the future of business and society. Our future entrepreneurs must be able to understand and use the full potential of technologies such as blockchain in Society 5.0 if they wish to succeed in the future.

Risk management

    Risk management plays a crucial role in adapting to such a society, as it helps mitigate potential negative consequences and ensures that the benefits of technological advancement are maximized. With the increasing digitisation of business operations, the risk landscape has expanded to include sophisticated cyber threats. The Fifth Industrial Revolution emphasizes the integration of advanced cybersecurity measures powered by AI. Intelligent algorithms will detect anomalies, identify potential vulnerabilities, and respond to cyber threats in real-time, fortifying businesses against the ever-evolving landscape of cyber risks. Consider the ethical implications of technological advancements and their impact on society. Ensure that risk management strategies prioritize human rights, privacy, autonomy, and inclusivity. Addressing ethical concerns from the outset can help prevent future conflicts and societal backlash. Another thing we can do is promote risk literacy and empower individuals to make informed decisions about the risks and benefits of emerging technologies. Provide accessible information, education, and training to help individuals navigate complex technological landscapes responsibly.  (Risk Management 5.0?, 2017). By integrating these principles into risk management practices, individuals, organizations, and societies can adapt more effectively to the opportunities and challenges presented by Society 5.0.

Collaboration and partnerships

    Collaboration and partnerships are critical in the ever-changing landscape of finance and technology, as demonstrated by recent debates on central bank digital currencies (CBDCs). The concept of CBDCs has prompted collaboration among central banks, financial institutions, technology providers, and regulatory agencies, resulting in a paradigm shift in how we perceive and interact with money. One of the most significant takeaways from this trend is the value of collaborative efforts in fostering creativity and development. Central banks, in collaboration with fintech companies and other stakeholders, could optimize the potential of CBDCs by embracing technology breakthroughs like blockchain to improve financial transaction security, transparency, and efficiency. By combining resources, skills, and networks, collaborators may manage regulatory complexity, mitigate risks, and guarantee that CBDCs are designed and implemented in ways that benefit society. Furthermore, collaboration promotes knowledge sharing, cross-sector learning, and the transmission of innovative ideas, resulting in continual enhancement and evolution of the financial ecosystem. As we enter the era of digital currencies and technical innovation, collaboration emerges as a critical component for driving development, establishing trust, and constructing a more resilient financial system (When It Comes to Central Bank Digital Currencies, We Need Public-Private Cooperation, 2022).

 

Ethical and social responsibility

    Ethics can be defined as moral principles that govern a person’s behaviour or the conducting of an activity (Oxford University Press, 2020). Essentially when decisions are being made, there are moral implications that go beyond what is deemed a right decision. In the context of a data-driven Society 5.0, this can be seen quite prevalent in technological decision making with automation.This can implicate ethical decision making as even though the main intention is to make hiring a more efficient process, moral implications can come from the lost opportunity of the best person for the job not being hired. This will relate heavily to education as said automation might shift the focus of certain subjects in school curriculums due to their relevance on future job opportunities dictated by technology (Friesem, 2010). An ethical question will be raised on whether this is the right move and if subjects already being taught should be omitted from the curriculum.

The aim of this essay is to explore ethics and social responsibility in Society 5.0 and understand what it means for the future of education. We begin by exploring what is meant by Society 5.0, and looking at it through the cultural historical activity theory framework. Society 5.0 is characterized by a connected society that utilizes big data (Yonezawa et al., 2018). Information technology such as the IoT (internet of things) is expected to play a major role with the collection and coordination of vast amounts of data in real time (Yonezawa et al., 2018).

Conclusion

    In summary, Society 5.0 aims for the future where technology helps people in every aspect of their life. To adapt to that, we need key entrepreneurial skills such as being innovative and adaptable, managing risks wisely, collaborating effectively, and making ethical decisions. while we deal with the complexities of Society 5.0, we need to make sure that we develop these skills to shape a future that prioritizes human well-being and consistency of development.

References

Tornjanski, Vesna & Čudanov, Mladen. (2021). Towards Society 5.0 Era: Organisational Empowerment of the Sustainable Future.

When it comes to Central Bank Digital Currencies, we need public-private cooperation. (2022, May 23). World Economic Forum. https://www.weforum.org/agenda/2022/05/cbdcs-the-case-for-public-private-cooperation/