Innovation in the Digital Economy

4Industry 5.0New approaches to innovation in the industry

Jakub Pizoń, Monika Kulisz

DOI: 10.4324/9781003384311-4

Introduction

The production sector is a branch of the economy that contributes to society’s prosperity and development. With the advent of subsequent technical inventions throughout history, progress would take place and new professions would emerge, along with new needs. These periods of intensive development are known as industrial revolutions. As indicated in the literature (Horváth & Szabó, 2019, pp. 119–132; Nowotarski & Paslawski, 2017), the First Industrial Revolution began at the end of the 18th century and relied on steam and hydropower. The Second Industrial Revolution started at the beginning of the 20th century, with ...