The Future of Smart Manufacturing: Leveraging AI and Technology for Growth and Resilience
Eternal Robotics
India's leading startup in delivering transformational change to global businesses and industries using Robotics and AI.
As manufacturers strive to remain competitive, adapt to market pressures, and build long-term resilience, digital transformation and advanced technologies like ?Artificial Intelligence (AI), ?Machine Learning (ML), and Generative AI (GenAI) are playing pivotal roles. The pressures of supply chain disruptions, workforce shortages, and economic uncertainties have pushed many manufacturers to explore technological solutions that not only solve immediate challenges but also provide a foundation for long-term growth.
Are You a Manufacturer with < $500M (Rs. 5k Cr.) in Revenue?
Recent data highlights that manufacturers with revenues exceeding $10 billion have achieved notable growth through AI and digital transformation initiatives. However, what does this mean for mid-sized manufacturers with revenues under $500 million? Studies indicate that the same innovative technologies driving success in large enterprises can provide significant value to smaller manufacturers as well.
In the automotive sector, AI-driven digital transformations are demonstrating their potential to enhance operational efficiency, reduce costs, and improve risk management. These advancements are shaping the future of manufacturing, offering businesses an opportunity to optimize processes and stay competitive in a rapidly evolving industry.
Let’s explore how AI and digital technologies can help your business grow.
Technology Investment Drives Long-Term Business Resilience
Despite the challenges faced in 2024, manufacturers are focusing on the long-term. Technology investments are not just seen as a way to overcome current issues but as critical to enhancing competitive advantage and building resilience for the future. According to industry reports:
While the long-term benefits dominate, the current obsolescence and broken technology systems in manufacturing have led to a significant number of businesses reevaluating their technological strategies.
AI’s Role in Improving Quality and Lowering Risk
AI, specifically GenAI and advanced ML, has the potential to transform manufacturing by addressing two core issues: maintaining high product quality and mitigating risks, especially in cybersecurity.
Over the next three years, AI is expected to have the most significant impact on:
Manufacturers believe that AI holds the greatest potential for addressing workforce challenges. The top 10 technologies driving improvements in workforce efficiency and cost reduction include:
These technologies have the potential to significantly impact operations and productivity, while AI-driven automation can tackle workforce shortages and reduce reliance on manual labor.
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The Impact of AI by 2027
The biggest AI impact expected by 2027 will be in:
As AI continues to develop, manufacturers will see a marked shift in how operations are managed, with AI taking on larger roles in decision-making, efficiency improvement, and risk mitigation.
Balancing People, Process, and Technology
While adopting new technologies is crucial, manufacturers must also focus on aligning people, processes, and technology. Leadership challenges often arise from balancing technology adoption with workforce management. For successful digital transformation, manufacturers need to:
Align technology with the skillsets and needs of their workforce. Effectively manage people and resources to ensure that new technologies complement human labor.
Key leadership obstacles identified by manufacturers include:
Successful manufacturers are focusing on three imperatives:
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