The Fifth Industrial Revolution is ushering in a profound era of technological advancement and societal transformation, prompting a critical examination of the evolving role of libraries in this digital landscape. Traditionally regarded as the custodians of knowledge, libraries must adapt to these changing dynamics of the digital world while preserving their core principles. This study looks into the strategic integration of advanced technologies, aiming to redefine the mission of libraries in the face of complex challenges. The Fifth Industrial Revolution encompasses a convergence of diverse technologies, including the Internet of Things (IoT), cloud computing, biotechnology, nanotechnology, and quantum computing, all underpinned by the currency of data. Artificial intelligence (AI) is a focal point, promising enhancements in user experiences and operational efficiency, however, it also raises critical ethical and privacy concerns that challenge fundamental library principles. This research employs an interpretive content/document analysis approach to examine the evolving roles of libraries, considering their pivotal function in bridging the digital divide, providing equitable access to technology and digital resources, advancing research and innovation, and fostering community engagement. The study underscores the imperative to address challenges related to data privacy, digital inclusion, resource allocation, intellectual property, and sustainability. However, despite these challenges, libraries are poised to remain indispensable pillars of education, research, and community interaction. To do so, they must embrace technology strategically to redefine their roles and expand their influence within evolving knowledge systems.