Industry 5.0 Meets Fintech Towards A Human-Centric Digital Economy: Implications For Accounting Systems And Reporting Frameworks
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Industry 4.0 has revolutionized financial services through digital finance but remains limited in addressing sustainability, resilience, and human-centric concerns. This study explores how Industry 5.0 principles can bridge these gaps by fostering adaptive, inclusive, and sustainable digital financial systems. Using a conceptual approach, it synthesizes literature on Industry 5.0 and digital finance, integrating technologies like Edge AI, Generative AI, and Mixed Reality with human-centered values such as collaboration, personalization, and equity. The proposed framework includes stages of vision alignment, technology adoption, workforce enablement, and governance. Findings indicate that Industry 5.0 can enhance decision-making, improve transparency, and support AI-enabled reporting and accountability within financial system. However, challenges such as cybersecurity risks, ethical AI issues, and skill shortages remain. The study emphasizes that human–machine collaboration can overcome Industry 4.0’s limitations while advancing transparency, empathy, and sustainability. By promoting equitable access, efficient resource use, and user-centric AI solutions, the research contributes to the emerging discourse on Industry 5.0 in digital finance, offering a roadmap for achieving efficiency, equity, and long-term financial resilience. This study contributes to accounting theory by proposing a conceptual framework for next-generation accounting systems integrating Industry 5.0 principles. It advances theoretical understanding of real-time accounting, AI-driven reporting, and socio-technical accounting systems. Implications for financial reporting, auditing, and sustainability accounting are discussed.
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