SOCIETY 5.0 AND ITS IMPACT ON AGRICULTURAL BUSINESS AND INNOVATION: A NEW PARADIGM FOR RURAL DEVELOPMENT

Abstract

This paper analyzes the impact of Society 5.0 on agricultural business and innovation, proposing a new paradigm for rural development. Society 5.0 represents the evolution beyond previous societal models, aiming to harmonize economic progress with solutions to social issues through the integration of cyberspace and physical space. Central to this model is the application of advanced technologies such as the Internet of Things (IoT), artificial intelligence (AI), robotics, big data, and augmented reality. The study focuses on the significant changes within agricultural practices and business models. Through a review and analysis of current trends, the paper presents a theoretical framework The paper also proposes the Agricultural Business and Rural Development Potential (ABRDP) index as guide for future trends and potential outcomes in the agricultural domain, offering insights into optimistic, conservative, and pessimistic scenarios for rural development.