15th October 2024: Gurugram, Haryana, India As industries worldwide transition into an era where human ingenuity and artificial intelligence converge to reshape the global economy, BML Munjal University, successfully concluded its 5th Leadership Summit, which focused on Industry 5.0 and AI-driven innovations. The summit was themed “Embracing Industry 5.0: Leading the AI-Powered Organisations”. The summit brought together industry leaders, academics, and experts to explore the intersection of human-AI collaboration and its impact on various sectors. It provided a platform to discuss the evolving leadership strategies required to navigate this technological transformation while balancing innovation and ethics. In addition, the event featured the launch of a survey report on the same theme, based on responses from 1,000 HR professionals across industries, offering valuable insights into AI’s growing role in the workplace.
The event featured a keynote address by Ms. Vinita Bali, former CEO of Britannia Industries, who spoke on the evolution of AI, highlighting its benefits and challenges. In recognition of her contribution, BMU honoured her by planting a grove of 50 trees in her name in Fatehabad, Haryana.
Prof. Pratik Modi, Dean, School of Management, BML Munjal University emphasized the importance of leadership in Industry 5.0, saying, “To thrive in this evolving landscape, leaders must go beyond merely adopting AI technologies—they must foster a deep sense of curiosity and the ability to ask the right questions. Success will come from blending human creativity with AI-driven insights to drive sustainable growth and innovation. At BMU, we are committed to developing leaders who can navigate this shift with agility, equipping them with the skills to not only work alongside AI but to harness its potential while upholding human values.”
The summit featured dynamic plenary sessions that explored the challenges and opportunities of Industry 5.0. The first session, “Human-AI Collaboration in Industry 5.0”, opened with an audience poll about working alongside robots, revealing curiosity and some apprehension. The panelists—Mr. Nikhil Malhotra (Chief Innovation Officer, Tech Mahindra), Ms. Nishu Jain (Executive Director, Data & Analytics, PwC), and Mr. Venkatesh Raman Prasad (Partner, JSA Legal Firm)—highlighted AI’s role in industries like law, stressing that technology should enhance human decision-making, not replace it. They called for AI charters and regulations to ensure responsible usage.
The second session, “AI-Driven Innovations and Disruptions”, showcased how AI is transforming sectors such as healthcare, finance, and agriculture. Mr. Nilanjan Chakravortty (GM-R&D, Hitachi), Mr. Saurav Bhaik (Founder & CEO, Tagbin & Stylin), and Mr. Nitin Kalra (Founder & CEO, Blu Parrot) discussed cutting-edge AI applications—from wildlife recognition to reducing carbon footprints—and emphasized the need for unbiased data to improve AI accuracy. They also explored AI’s future, predicting humanoids and further integration in startups.
In the final session, “Ethical and Sociological Implications”, Ms. Rachna Kumar (CHRO, Hero MotoCorp), Mr. Sampann Chaudhary (CEO & Co-founder, DGLiger Consulting), and Ms. Lopamudra Banerjee (CHRO, Carrier Midea) tackled the importance of ethical AI, focusing on data responsibility, transparency, and AI’s role in enhancing workplace diversity and mental health. They also emphasized that while AI will evolve job roles, it won’t eliminate them.
BMU’s 5th Leadership Summit highlighted the opportunities and challenges of Industry 5.0, focusing on the synergy between humans and machines. Beyond efficiency, Industry 5.0 integrates human creativity with AI to drive unprecedented productivity and innovation. Generative AI was a key theme, with experts exploring its potential to deliver new solutions in sectors like healthcare, finance, and manufacturing. The summit emphasized the need for curiosity and asking the right questions as essential skills for leveraging AI effectively in the future.
