New study finds some manufacturers are ready to leverage cutting edge technologies — while others fall behind

New research finds that manufacturing leaders are worried about disruptive technologies — robotics, artificial intelligence, additive manufacturing, and analytics — and yet few are doing much about it.

The MPI Disruptive Technologies in Manufacturing Study surveyed more than 400 executives at manufacturing companies around the globe and found that:

  • 88 percent report that their industries and markets are vulnerable to disruptive technologies (29 percent “extremely vulnerable” and 59 percent “somewhat vulnerable”).
  • 86 percent report that their own companies are vulnerable to disruptive technologies (23 percent “extremely vulnerable” and 63 percent “somewhat vulnerable).

At the same time, these leaders have high hopes for new technologies — along with concerns about how’ll they implement them, as illustrated in the chart below:

Technology Benefits and Challenges

With so much at stake — and with so much executive worry and hope — you might imagine that these leaders would have strategies in place to evaluate and implement emerging technologies at their firms. Yet less than half (49 percent) have a companywide strategy to evaluate emerging technologies. And a full 20% are just now starting to develop such a strategy.

It’s time to push the panic button if you’re not yet taking a look at how emerging technologies will change your company’s manufacturing future — and your career.

Fortunately, the MPI study provides additional insights into where manufacturing executives see the most opportunity from emerging technologies, the issues and investments associated with adoption, the extent of implementation across industry, and the performance outcomes driven by emerging technologies.

To learn more, subscribe to MPI’s weekly newsletter at MPI-NEWS for more updates about the Disruptive Technologies Study, and get insights on how you can leverage these new tools for productivity and profitability. Or, better yet, hear full details of the study from MPI CEO John R. Brandt at the FMA Disruptive Technologies Conference on May 15-16, 2019, in Chicago. You’ll also meet executives already using these technologies to reinvent their firms.

What are you waiting for?