Search

GenAI emerges top tech investment capability by manufacturers for improved business outcomes: report

by

Azunta Gaviola

-

2 months ago

Are you ready to unlock the secrets to skyrocketing your e-commerce business in the hearts of Southeast Asia’s e-commerce hub? The ‘E-Commerce Marketing Series 2024’ conferences are coming to Malaysia, the Philippines, and Singapore starting this July! Click here to find out more!

Singapore – Artificial intelligence is considered the top capability by manufacturers for driving significant business outcomes, according to a recent report by Rockwell Automation, an industrial automation and digital transformation firm. 

In this report, around 83% of the 1,500 manufacturers surveyed expect to integrate generative AI into their operations in 2024. This implies generative AI as the top tech investment for manufacturers in the current year.

A significant 95%, on the other hand, are also currently using or evaluating smart manufacturing technology, a notable increase from 84% in 2023.

Findings of the study further revealed that 94% of manufacturers plan to maintain or grow their workforce as a result of adopting smart manufacturing technology, emphasising the reassignment of existing workers to new or different roles and/or hiring more workers.

Manufacturers cited “improved quality” as the leading positive outcome from existing smart manufacturing technology for a second consecutive year, with “quality control” ranking as the top AI/machine learning use case in 2024.

Meanwhile, cybersecurity has entered the list of the top five external risks for manufacturers in 2024, ranking third overall for the first time. Energy management also remains crucial to manufacturers’ sustainability and ESG programmes.

Additionally, the report highlighted that approximately one-third of manufacturing leaders see “matching technology and talent to business needs” and “effectively managing people and resources” as their organisations’ most significant challenges in the coming year.

Cyril Perducat, senior vice president and chief technology officer at Rockwell Automation, commented, “A skilled workforce is the cornerstone of any successful manufacturing operation, but attracting, managing, and retaining workers is proving to be an ongoing challenge. The survey found that technology alone is not the answer.”

“To remain competitive, manufacturers need to focus their staff on embracing new technology as a core part of their evolving organisational culture, creating a technology/worker partnership that drives their business forward,” added Cyril.

“At Rockwell, the combination of our deep industry expertise with our exceptional PartnerNetwork™ puts us in the best position to advise and guide leading global manufacturers. Being the largest company dedicated solely to industrial automation and digital transformation, we strive to help companies realise the promise and value of their digital transformation, no matter where they are in their journey,” he said.

Allison Kuhn, principal analyst at LNS Research, also shared, “The workforce of 2019 is not coming back. Developing a sustainable workforce strategy is critical to successfully navigate daunting manufacturing challenges. Leaders are winning the war for talent by embracing this new reality and with a laser focus on three imperatives: 1) Total Employee Experience, 2) Servant Leadership, and 3) Connected Frontline Workforce (CFW) Applications.”

This year’s study reveals a focus on harnessing new and emerging technologies at the core of building resiliency, improving quality, maximising workforce potential, and driving sustainable growth.

Discover the current trends in business communication based on over 473 billion interactions. Download the free report here to stay ahead of the curve in messaging trends!
Experience history at MARKETECH APAC’s ‘Marketing Technology Awards 2024! On November 28, live in Singapore, celebrate visionaries shaping Asia-Pacific’s marketing tech across 45 categories. Join us in honouring innovation and excellence! Click here to learn more.

 

Share

RECENT ARTICLES

Korean Air to enhance customer services with plans to establish AI contact centre
HGC, UCloud Technology to empower cloud, digital transformation across SEA with recent partnership
Infosys, SAP Emarsys collaborate for enhanced revenue growth, customer experience
The future of data security: Affinidi’s Glenn Gore on fostering trust and transparency amongst data exchanges across enterprises
Tech in Focus: How Qashier eliminates barriers to digitalisation for SME merchants with smart PoS solutions and digital payments
Ellipse 3

RELATED ARTICLES

Korean Air to enhance customer services with plans to establish AI contact centre_11zon
HGC x UCloud_11zon
2 Alibaba Cloud to support digital talent development with new generative AI course_11zon
Ellipse 3

FEATURED ARTICLES

Korean Air to enhance customer services with plans to establish AI contact centre_11zon
HGC x UCloud_11zon
2 Alibaba Cloud to support digital talent development with new generative AI course_11zon

Subscribe to UpTech Media Newsletter

Video Title Here: The Indonesian on-ground activation status

Sed ut perspiciatis unde omnis iste natus error sit voluptatem accusantium doloremque laudantium, totam rem aperiam, eaque ipsa quae ab illo inventore veritatis et quasi architecto beatae vitae dicta sunt explicabo. Nemo enim ipsam voluptatem quia voluptas sit aspernatur aut odit aut fugit, sed quia consequuntur magni dolores eos.

Video Title Here: The Indonesian on-ground activation status

Sed ut perspiciatis unde omnis iste natus error sit voluptatem accusantium doloremque laudantium, totam rem aperiam, eaque ipsa quae ab illo inventore veritatis et quasi architecto beatae vitae dicta sunt explicabo. Nemo enim ipsam voluptatem quia voluptas sit aspernatur aut odit aut fugit, sed quia consequuntur magni dolores eos.

Video Title Here: The Indonesian on-ground activation status

Sed ut perspiciatis unde omnis iste natus error sit voluptatem accusantium doloremque laudantium, totam rem aperiam, eaque ipsa quae ab illo inventore veritatis et quasi architecto beatae vitae dicta sunt explicabo. Nemo enim ipsam voluptatem quia voluptas sit aspernatur aut odit aut fugit, sed quia consequuntur magni dolores eos.