The European Union recently proposed the “Industry 5.0” plan with the goals of “sustainable development”, “human-oriented” and “flexible economy”. From the perspective of planning motivation, “Industry 5.0” is a new development direction proposed by the European Union for digital technology and scientific research innovation under the current rapid social changes, providing new solutions for economic and social development. However, as a rethinking of the future development of industry, Industry 5.0 is still in the exploratory stage of research, with relatively few research results and a lack of systematicity. Firstly, the background of the emergence of Industry 5.0 was reviewed, and the driving forces behind its creation were analyzed; On this basis, the connotation of Industry 5.0 was elaborated, and the relationship between Industry 5.0 and the concept of Society 5.0 was explored; Finally, the three-dimensional architecture of Industry 5.0 was established, and the implementation path of Industry 5.0 was provided.