Rapid Evolution of Disruptive Digital Transformation to Society 5.0

Imagine a society that solves problems and creates value instead of leveraging economies of scale; a society where diversity is celebrated; a society where equal opportunities exist for everyone and not just a small concentration of elites; a society where people can confidently live and pursue ambitions without an of constant fear of vulnerability; a society where humankind lives in harmony with nature instead of placing high stress on the environment due to mass consumption of resources. This is Society 5.0 as defined by Japan at the 2019 World Economic Forum.



The push towards new societal paradigms will be driven by rapid digital transformation in many aspects of our everyday lives including financial transactions, industrial structure, private life and public administration. For instance, the growing usage of AI and blockchain technology have placed all sectors at global inflection points. Already, parts of the financial industry are exploring how blockchain and AI technology can improve customer experience, reduce expenses, enhance compliance efforts and help companies increase revenue by helping them expand into new markets. Eventually, the decentralized AI Blockchain may even render many existing financial services obsolete.