The mass commercialization of self-driving cars and virtual offices may still seem like futuristic concepts to many business leaders. But automation technology is advancing fast, offering CEOs across various industries scope to enjoy sizable near-term boosts in productivity, according to a new survey.
Manufacturers are facing more challenges that are forcing them to reduce costs, reexamine their business models, integrate new technologies and build new capabilities.
D'Addario, a manufacturer of guitar and orchestral strings, as well as other musical instrument parts, has a lineage that goes all the way back to 1680 Italy. But the company's got both feet facing forward when it comes to keeping up with digital technology.
Companies are finding creative ways to invest in the right talent to ensure their organizations are adequately prepared for the automation of the future.
CEOs are racing to adopt new technology and develop the talent they need to lead a Manufacturing Renaissance.
While RFID technology has been in place for upwards of two decades, it has come a long way in the last year. Originally an inventory management tool that also helped reduce merchandise theft, it is currently helping retailers improve customer satisfaction and improve merchandise management and planning.
The Internet of Things (IoT) is creating a big buzz in business these days. This is no surprise given recent statistics: Juniper Research recently estimated that the number of IoT-connected devices will increase to 38.5 billion worldwide in 2020, up by more than 285% from 13.4 billion in 2015. Meanwhile, McKinsey estimates that the IoT could unleash as much as $2.3 trillion in global economic value by 2025.
After Nike recently announced it would start offering customers the ability to make their own sneakers using 3D technology, Under Armour is also raising the bar with manufacturing automation.
Technology is shaking up all types of markets today, obliterating old business models everywhere with newer, more dynamic approaches. In particular, machines have gotten smarter, and can perform high-level analysis and make decisions—processes that used to be exclusive to the human brain. This is a quantum leap in processing, and we’re at a point now where machines are able to think for themselves.
Can the Digital Manufacturing and Design Innovation Institute deliver on its promise to bring digital innovations to manufacturers large and small?
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