New technologies are unlocking a new advanced era in automation for manufacturers—one in which humans & machines will increasingly work next to each other.
Manufacturing automation has transformed factory floors, the nature of manufacturing employment, & the economics of numerous manufacturing industries. We are currently at the beginning of a new era of automation, as quick advances in robotics, artificial intelligence, and machine learning have made it possible for machines to compete with or even surpass humans in a wide range of tasks, including ones requiring cognitive capabilities.
Every morning every person’s phone alarm wakes them up. Then they start work with virtual meetings using their laptop. Practically every aspect of life is connected by manufactured goods. The manufacturing industry is a key driver of global consumption. It produces products we use every day. The World Bank estimates that net manufacturing output contributed to 16% of the world’s GDP in 2020.
The manufacturing industry influenced valuable job opportunities. At the same time, with the emergence of new technologies such as automation, 3-D printing, robotics, machine learning, artificial intelligence and data science, almost 8 in 10 Indians feel that the future of the sector would demand more advanced skills & qualifications.
Growth is essential to a business’s survival. Innovation is a significant factor of growth, and innovation requires a highly skilled workforce. However, the industrial sector confronts difficulties due to both a skills gap and a declining labour force in many advanced economies.
The manufacturing sector needs to rethink community collaboration in order to have a dynamic, vibrant, and skilled workforce. There are three key ways industry leaders can develop with our changing world to seize future opportunities.
Collaboration with Skills Training Can Build Lifelong Learners
First, the manufacturing industry can support its workers to become lifelong learners. Knowledge & skills are becoming obsolete faster than ever before. Business executives must invest and upgrade their workforce to address difficulties and succeed in Industry 4.0 and 5.0.
Streamlining Education With The Manufacturing Industry
Second, business leaders can strengthen the relations between academia and the manufacturing sector. Improved relations shorten the time-to-market from frontier research to industrial technologies & breakthrough market practices. To anticipate industry demands and even co-create the curricula, frontier industries and trade groups can set up corporate labs and actively work with universities. Such collaborations can also assist in solving future challenges, prototyping and producing new products and services for tomorrow’s markets.
Broadening The Search For Talent Beyond The Realm Of Education
Third, the manufacturing industry must keep in mind that we do not always have the luxury of long-term solutions. Skills gaps are pressing and require supplementary and immediate solutions to talent needs. Employers can widen their search for talent by determining whether vital skills can be acquired on the job or through job training programmes and whether prior experience or higher education degrees are required.
Potential candidates without many years of manufacturing experience but eager to learn can contribute greatly to this industry. Employers can broaden the diversity of applicants by bringing on individuals with diverse backgrounds who can benefit from inclusive hiring practices and flexible work schedules.