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Report: Manufacturing leaders consider AI, workforce productivity, innovation
- August 16, 2023
- News Release
- Management
Fictiv, San Francisco, has released its eighth “State of Manufacturing Report”, conducted in partnership with technology market research firm Dimensional Research.
The report tracks decision-maker sentiment across hundreds of manufacturing companies and finds an industry marked by economic uncertainty and workforce challenges, but eager to adopt new technology solutions—especially those powered by artificial intelligence (AI).
Almost all manufacturing leaders (93 per cent) are preparing for a serious shortage of skilled engineering talent by taking proactive steps to address the labour gap. More than half are investing in technology designed to drive productivity gains while 85 per cent say their company is already adopting AI.
“The silver lining of the macro environment is that it’s pushing technology to the forefront in the manufacturing industry,” said Fictiv CEO/Co-founder Dave Evans. “Leaders are set on accelerated growth and product innovation, but recognize they need better digital tools to empower their workforce and protect against economic risk. The industry is ready to see hardware development accelerate to the speed of software development, and AI is a major catalyst.”
Additional survey findings include that 94 per cent of respondents report barriers to new product innovation, and 78 per cent are actively evaluating technology options for more efficient product development.
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