The latest State of Smart Manufacturing – Automotive Edition reveals an industry navigating economic pressure, workforce gaps and rapid technology shifts. With responses from 130 managers and executives at automotive and tire manufacturers, original equipment manufacturers (OEMs), engineering procurement companies (EPCs) and system integrators around the globe, the report reveals that smart manufacturing and technology will be key players in driving long-term business impact, operational efficiency and workforce potential- but not without some challenges ahead.
Technology Investment Crucial for Business Outcomes
To achieve long-term business goals like quality improvement, cost reduction, increased safety, cybersecurity and compliance, organizations report that investment in technology is overwhelmingly important. Through smart technologies like Generative AI, organizations are equipped to improve business outcomes through better decision-making, quality control, production planning and more. However, 41% of respondents in the survey cited cost as the top obstacle, followed by deploying and integrating new technologies.
A Rise in Workforce Skillset Demands
Inflation, economic uncertainty and market volatility remain top-of-mind for manufacturers, but this year, workforce concerns have overtaken cybersecurity as a primary barrier to growth. In the Automotive, Tire and Battery industries, organizations are dealing with retiring experts taking decades of knowledge with them, and simultaneously requiring new, digital-first skillsets like data science and AI.
To stay competitive, they must deploy new technologies faster and attract employees with the right skillsets. In the report, respondents agree that soft skills like communication, analytical thinking and flexibility continue to be essential, and 77% of respondents report that knowledge of emerging technologies has become just as important when recruiting the next generation of workers.
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