From advanced #robotics in R&D labs to computer vision in warehouses, #technology is making an impact on every step of the manufacturing process.

#Manufacturing is become increasingly more efficient, customized, modular, and automated. But factories remain in flux. Manufacturers are known to be slow adopters of technology, and many may resist making new investments. But as #digitization becomes the new standard in industry, competitive pressure will escalate the inventive to evolve.

Most powerful levers manufacturers can pull will come in the form of robotics, #AI, and basic #IoT digitization. Richer data and smart robotics will maximize a factory’s output, while minimizing cost and defects. At the unmanned factory in Dongguan, employing robotics dropped the defect rate from 25% to less than 5%.

Meanwhile, as cutting-edge categories like #blockchain and #AR are being piloted in industrial settings, manufacturing could eventually be taken to unprecedented levels of friction-less production and worker augmentation.

Manufacturers predict overall efficiency to grow annually over the next 5 years at 7x the rate of growth seen since 1990. To reach its full potential, the manufacturing industry will need to continue to embrace new technology.

Source: CB Insights