Manufacturers have faced intense challenges in 2023, from increased market competition, complex customer demands to tightening regulations. To maintain a competitive edge in 2024, the adoption of new technologies to enable manufacturers to alleviate volatility will be key to their competitive differentiation, and will be crucial to help them manage increased volatility.
Prediction #1: Within the next 3 years, investment and demand for AI and data pattern recognition is expected to rise by 40%
Prediction #2: In the next 2-5 years, digitally mature manufacturers will adopt dynamic planning, integrating AI powered technology to enhance their EAM and ERP systems.
Prediction #3: By 2026, 60% of manufacturers will invest in new technology to transform the shop floor worker experience to mitigate attrition and productivity losses.
Prediction #4: In 2025, 30% of manufacturers will have embedded circularity strategies into their business models, initially to help reduce waste and use resources more efficiently.
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