Society 5.0: Shaping the future of e-commerce
This paper explores the impact of Society 5.0, a Japanese initiative that integrates digital and physical spaces to address societal challenges and drive economic growth. It examines the role of decentralized technologies in enhancing e-commerce by adapting to consumer behavior changes and improving...
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| Format: | Article |
| Language: | English |
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Elsevier
2024-12-01
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| Series: | Journal of Open Innovation: Technology, Market and Complexity |
| Subjects: | |
| Online Access: | http://www.sciencedirect.com/science/article/pii/S2199853124001859 |
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| _version_ | 1846140673974075392 |
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| author | Arturs Bernovskis Deniss Sceulovs Agnis Stibe |
| author_facet | Arturs Bernovskis Deniss Sceulovs Agnis Stibe |
| author_sort | Arturs Bernovskis |
| collection | DOAJ |
| description | This paper explores the impact of Society 5.0, a Japanese initiative that integrates digital and physical spaces to address societal challenges and drive economic growth. It examines the role of decentralized technologies in enhancing e-commerce by adapting to consumer behavior changes and improving market dynamics. The study details the transition from Web 1.0’s basic functionalities to the more interactive and social Web 2.0, setting the stage for a more integrated and intelligent e-commerce environment under Society 5.0. This new paradigm emphasizes personalized consumer experiences facilitated by AI and big data, focusing on real-time data, predictive analytics, and tailored services. The paper also addresses how Society 5.0 prioritizes sustainability and ethical practices in AI, aligning e-commerce strategies with global sustainability goals through eco-friendly practices and green logistics. The methodology involves a detailed literature review using specified databases over a defined period, applying rigorous criteria for article selection and classification to ensure comprehensive topic coverage. This research highlights the potential of cutting-edge technologies to revolutionize e-commerce by making it more secure, efficient, and aligned with consumer expectations and environmental standards. The research employs a qualitative approach, synthesizing existing literature on Society 5.0 and its potential impact on e-commerce. We explore how blockchain and big data will personalize experiences, enhance operational efficiency, and introduce new products and services. While acknowledging the limitations of relying solely on secondary literature, the paper underscores the need for future research to include empirical studies and address challenges like data privacy, the digital divide, and evolving regulatory frameworks within the e-commerce landscape. |
| format | Article |
| id | doaj-art-0f614b83c94344d0a9224cf10c9986e0 |
| institution | Kabale University |
| issn | 2199-8531 |
| language | English |
| publishDate | 2024-12-01 |
| publisher | Elsevier |
| record_format | Article |
| series | Journal of Open Innovation: Technology, Market and Complexity |
| spelling | doaj-art-0f614b83c94344d0a9224cf10c9986e02024-12-05T05:20:06ZengElsevierJournal of Open Innovation: Technology, Market and Complexity2199-85312024-12-01104100391Society 5.0: Shaping the future of e-commerceArturs Bernovskis0Deniss Sceulovs1Agnis Stibe2Riga Technical University, Kalnciema Street 6, Riga, Latvia; Corresponding author.Riga Technical University, Kalnciema Street 6, Riga, LatviaRiga Technical University, Kalnciema Street 6, Riga, Latvia; Business Innovation Department, The Business School, RMIT University, Ho Chi Minh City, Viet Nam; Department of Informatics, Faculty of Engineering, the Built Environment and Information Technology, University of Pretoria, Pretoria, South Africa; INTERACT Research Unit, University of Oulu, Oulu, FinlandThis paper explores the impact of Society 5.0, a Japanese initiative that integrates digital and physical spaces to address societal challenges and drive economic growth. It examines the role of decentralized technologies in enhancing e-commerce by adapting to consumer behavior changes and improving market dynamics. The study details the transition from Web 1.0’s basic functionalities to the more interactive and social Web 2.0, setting the stage for a more integrated and intelligent e-commerce environment under Society 5.0. This new paradigm emphasizes personalized consumer experiences facilitated by AI and big data, focusing on real-time data, predictive analytics, and tailored services. The paper also addresses how Society 5.0 prioritizes sustainability and ethical practices in AI, aligning e-commerce strategies with global sustainability goals through eco-friendly practices and green logistics. The methodology involves a detailed literature review using specified databases over a defined period, applying rigorous criteria for article selection and classification to ensure comprehensive topic coverage. This research highlights the potential of cutting-edge technologies to revolutionize e-commerce by making it more secure, efficient, and aligned with consumer expectations and environmental standards. The research employs a qualitative approach, synthesizing existing literature on Society 5.0 and its potential impact on e-commerce. We explore how blockchain and big data will personalize experiences, enhance operational efficiency, and introduce new products and services. While acknowledging the limitations of relying solely on secondary literature, the paper underscores the need for future research to include empirical studies and address challenges like data privacy, the digital divide, and evolving regulatory frameworks within the e-commerce landscape.http://www.sciencedirect.com/science/article/pii/S2199853124001859Society 5.0E-commerceDecentralizationBlockchainAI |
| spellingShingle | Arturs Bernovskis Deniss Sceulovs Agnis Stibe Society 5.0: Shaping the future of e-commerce Journal of Open Innovation: Technology, Market and Complexity Society 5.0 E-commerce Decentralization Blockchain AI |
| title | Society 5.0: Shaping the future of e-commerce |
| title_full | Society 5.0: Shaping the future of e-commerce |
| title_fullStr | Society 5.0: Shaping the future of e-commerce |
| title_full_unstemmed | Society 5.0: Shaping the future of e-commerce |
| title_short | Society 5.0: Shaping the future of e-commerce |
| title_sort | society 5 0 shaping the future of e commerce |
| topic | Society 5.0 E-commerce Decentralization Blockchain AI |
| url | http://www.sciencedirect.com/science/article/pii/S2199853124001859 |
| work_keys_str_mv | AT artursbernovskis society50shapingthefutureofecommerce AT denisssceulovs society50shapingthefutureofecommerce AT agnisstibe society50shapingthefutureofecommerce |