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There’s a change coming.

Automated machinery, sensors, AI, interconnected ecosystems—advancements in digital technology are booming and it’s only a matter of time before they change the face of the skilled trades.

Experts call this the Fourth Industrial Revolution.

We teased this subject in our last episode, 2021 Skilled Labor Trends, but on this week’s episode we’re taking a deep dive into these technological advancements and how they will cause fundamental changes in the manufacturing industry.

Just like every past industrial revolution, changing technology will require new skillsets. While we won’t pretend to be experts on things like AI and cloud technology, we are experts in finding skilled laborers and can get you the talent you need to excel in this new era.

Main Takeaways

✅ The Fourth Industrial Revolution will create digital ecosystems with AI, sensors, cloud-based technology, and the Internet of Things

✅ Companies who prepare and evolve their technology and staff NOW will come out on top

✅ The main change for manufacturing will be predictive vs. reactive systems

✅ Skills and expertise must evolve with technology to succeed

Quotes:

💬 “In manufacturing, it’s this fusion of traditional physical manufacturing and digital manufacturing. Companies that understand how to leverage this and make this work will be at the forefront of the fourth industrial revolution.” (8:07-8:25 )

💬 “98% of organizations report that a single hour of downtime costs them over $100,000. And I would argue that’s probably on the low side for some companies.” (12:17-12:27 )

💬 “If you’re not growing your talent at the same time [as technology]…you’re basically investing in something you won’t be able to operate.” (16:23-16:38 )

💬 “This technology we’re talking about will reduce cost by 10 to 20%. That’s big.” (18:20-18:30 )

💬 “Everything is interconnected from customers to your supply chain. It’s not just a single production line, it is a production system that is highly flexible, interoperable and connected.” (25:25-25:38 )

💬 “It always comes down to people, no matter how much technology we have. You’ve got to have the right people to make it work.” (39:15-40:01 )

Ebook source mentioned in this episode: “The Future of Manufacturing: Blueprints for a Connected Supply Chain”.

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