Manufacturing’s Moonshots Are Landing . . . Are You Ready for the Next Wave?

Arguments

The value of trust is integral in technological advancements and manufacturing

Supporting facts:

• Trust involves using clean energy with full conviction

• Trust encompasses meeting commitments even in uncertain circumstances

Topics: Technology, Manufacturing, Trust

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The restructuring of supply chains is crucial post disruptions

Supporting facts:

• Importance of near-shoring and front-shoring

• It is important to design flexible manufacturing processes and adapt to new challenges

Topics: Supply Chain Management, Flexibility

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The public and private sector have to actively collaborate on skilling

Supporting facts:

• In India, a program called Future Skills is being conducted with NASSCOM where both the government and private sector are participating.

• The skill requirements are changing rapidly, making continuous learning and upskilling essential.

Topics: Workforce Development, Public-Private Partnership, Skills Training

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Government should focus on clean energy for manufacturing

Supporting facts:

• India is setting up a 30,000 megawatt solar and wind hybrid plant for semiconductor fabs, consuming 100% clean energy. Current largest plant is 7,000 megawatts.

Topics: Manufacturing, Clean Energy, Semiconductor Manufacturing

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Governments should fund R&D since technology cycles are changing fast, limiting the ability for private sector to invest

Topics: R&D, Government Funding, Manufacturing

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Both the government and the private sector are working for betterment of the society

Topics: Government, Private Sector, Technology

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The governments and the public sector must have a better understanding of technology and an open mind

Topics: Government, Public Sector, Technology

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In the last ten years, $100-plus billion electronics manufacturing industry and mobile manufacturing has developed in India

Supporting facts:

• From 98% import, today we have become 99% self-sufficient and have started exporting

Topics: Electronics Manufacturing, Mobile Manufacturing, India

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Need for more robust and inclusive multilateral organisations

Supporting facts:

• The organisations that exist today are 70-80 years old and have outlived their utility

• The world and economy have changed significantly

Topics: geopolitical uncertainty, global economy, world changes

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Moonshots in manufacturing affect everyone’s life

Topics: Manufacturing, Moonshots, Public Awareness

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Report

The expanded summary highlights the key points from the given information. Firstly, it emphasises the importance of trust and collaboration between the public and private sectors in the context of technological advancements and manufacturing. Trust plays a vital role in using clean energy with conviction and meeting commitments even in uncertain circumstances.

This support has a positive sentiment. Next, the summary discusses the crucial need to restructure supply chains after disruptions. It mentions the importance of near-shoring and front-shoring strategies and designing flexible manufacturing processes to adapt to new challenges. This supporting evidence highlights the positive sentiment towards the argument.

The summary also focuses on the government’s role in promoting clean energy for manufacturing. It mentions India’s plan to set up a 30,000 megawatt solar and wind hybrid plant for semiconductor fabs, emphasising the use of 100% clean energy. This evidence supports the argument and carries a positive sentiment.

Furthermore, it highlights the significance of collaboration between the public and private sectors in future skills training. The example of India’s Future Skills programme, which involves both the government and private sector, showcases the importance of continuous learning and upskilling.

This argument carries a positive sentiment. The need for more robust and inclusive multilateral organisations is addressed in another argument. The supporting evidence suggests that existing organisations have outlived their utility, and the world and economy have significantly changed, emphasising the positive sentiment towards this argument.

An additional argument is made regarding the implications of moonshots in manufacturing. While the evidence provided is neutral in sentiment, it states that these moonshots affect everyone’s life. Furthermore, it highlights the importance of public awareness in understanding these implications, carrying a positive sentiment.

In conclusion, the extended summary emphasises the importance of trust, collaboration, and clean energy in technological advancements, manufacturing, and future skills training. It also stresses the necessity for inclusive multilateral organisations and public awareness of the implications of moonshots in manufacturing.

Arguments

The need to mitigate the impact of geopolitical issues and sustainability on global supply chains

Supporting facts:

• Geopolitical issues such as potential re-election of Trump and legislation in Europe could impact global supply chains

• Emerging sustainability issues could induce changes in global supply chains

Topics: Global Supply Chains, Geopolitical Issues, Sustainability, Legislation

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Report

The analysis highlights several important factors that have the potential to impact global supply chains. Geopolitical issues, such as the potential re-election of Trump and upcoming legislation in Europe, are identified as key concerns. These factors have the potential to introduce uncertainties and disruptions in the global supply chain network.

The potential re-election of Trump as the President of the United States could lead to changes in trade policies and regulations. This could result in shifts in supply chain dynamics, as countries may need to adapt to new trade agreements or restrictions.

Similarly, the upcoming legislation in Europe could also affect the flow of goods and services across borders, potentially influencing supply chain operations and strategies. Another significant aspect highlighted in the analysis is the emergence of sustainability issues. As global awareness of environmental concerns continues to grow, there is an expectation that sustainability will become an increasingly important consideration for supply chains.

The analysis suggests that these emerging sustainability issues could drive changes in global supply chains, prompting companies to incorporate more sustainable practices and sourcing methods. The analysis also emphasizes the need for global supply chains to be more resilient and less vulnerable to external shocks.

With the world characterized by constant change and unpredictability, it is crucial for supply chains to be flexible and adaptable. This includes being able to withstand geopolitical changes, sustainability demands, and other external factors that may impact the global business environment.

In conclusion, the analysis highlights the potential challenges posed by geopolitical issues and emerging sustainability concerns for global supply chains. It stresses the importance of making supply chains more resilient and less vulnerable to external shocks. By addressing these issues and developing strategies to mitigate their impact, companies can enhance the stability and efficiency of global supply chains.

Ultimately, this will contribute to maintaining a robust global economy and driving sustainable development.

Arguments

The new era of manufacturing envisions a total connected building or manufacturing with a digital thread right from engineering model to customer connection.

Supporting facts:

• John’s Controls, a leader in building solutions, envisions integrating data through the lifecycle of products.

• Data utilization can differentiate the type of solutions delivered to customers.

Topics: AI, Decarbonization, Digitalization, Data

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Importance of manufacturing sector in developing new skill sets

Supporting facts:

• Manufacturing companies constitute about 53% of the R&D expenditure

• Manufacturing companies consume about a third of the energy

Topics: Workforce Disruption, Skill Set Development

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Necessity for manufacturing companies to set the stage for a sustainable future

Supporting facts:

• Manufacturing companies have a responsibility to continue innovation

• Emphasis on creating more sustainable manufacturing facilities

Topics: Sustainable Manufacturing, Energy Efficiency, Net Zero Buildings

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Heat pumps is a huge business for us.

Supporting facts:

• The technology in heat pumps has significantly advanced over the last few years.

• Heat pumps can do both heating and cooling.

• Heat pumps can get 3 times the efficiency compared to fossil fuel systems.

Topics: Manufacturing, Energy Efficiency, Fossil Fuels

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Manufacturing companies should invest in digital technologies, data, analytics, and AI

Supporting facts:

• Reinvestment in these areas aligns the business to customer needs and solves problems like sustainability and productivity

• The manufacturing economy in the U.S. creates $3 in the economy for every $1

Topics: technology investment, manufacturing economy growth

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The importance of balancing global and local facets for multinational corporations

Supporting facts:

• Supply chain disruption has necessitated companies to focus more on local elements

• Economic growth leads to job creation and technology development

Topics: Supply Chain, Economic Growth, Job Creation

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Corporations play a significant role in supporting the global economy

Supporting facts:

• Corporations hold a significant amount of capital which gets deployed to support the global economy

Topics: Global Economy, Capital Deployment, Corporations

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Report

The new era of manufacturing envisions a total connected building or manufacturing with a digital thread right from the engineering model to customer connection. This means that every stage of the manufacturing process will be digitally linked, allowing for seamless data integration and communication.

This revolutionizes product design, manufacturing, and customer delivery. Speed is a fundamental change occurring in manufacturing. Previously, it would take weeks or months to measure manufacturing statistics, but in the future, thanks to advancements in technology, it will take only hours and days.

This increased speed enables companies to quickly respond to market demands and make more efficient decisions. AI and the ability to consume and utilize data are critical for the future of manufacturing. Accurate forecasting through AI can greatly impact the manufacturing process, allowing for optimized production and waste reduction.

Additionally, leveraging data creates differentiation in the market, as companies gain valuable insights into customer preferences and tailor their products accordingly. Buildings are a major contributor to global carbon emissions, accounting for approximately 40% of the total. However, there is great potential for decarbonization in the building sector.

Building solutions, such as energy-efficient technologies and sustainable design practices, have the potential to decrease energy usage by 40-50%. Implementing these solutions helps combat climate change. The manufacturing sector plays a vital role in developing new skill sets and driving innovation.

Manufacturing companies constitute a significant portion of research and development expenditure, fostering innovation and technological advancements. Furthermore, the sector consumes a significant amount of energy, making it important to promote energy efficiency and sustainable practices. Heat pumps have emerged as a lucrative business opportunity in the manufacturing sector.

These advanced technologies can provide three times the efficiency compared to fossil fuel systems and have various applications, including heating and cooling. As companies focus on transitioning to more sustainable energy solutions, heat pumps offer a promising alternative. To support manufacturing expansion and the adoption of energy-efficient technologies, government incentives and public-private partnerships are crucial.

By aligning interests and sharing resources, these collaborations facilitate the deployment of sustainable solutions and accelerate the transition to a more environmentally friendly manufacturing sector. Investing in digital technologies, data analytics, and AI is essential for manufacturing companies to stay competitive.

By harnessing the power of these technologies, companies can better understand customer needs, enhance productivity, and address sustainability challenges. This requires a significant emphasis on innovation and integrating digital solutions into manufacturing processes. There is substantial opportunity for companies that effectively leverage digital technologies.

Investing in reinvention and aligning business strategies with customer needs allows companies to solve problems, stimulate economic growth, and create new opportunities. Balancing global and local facets is crucial for multinational corporations in the manufacturing sector. Supply chain disruptions have highlighted the importance of local elements, such as localized production and sourcing.

However, economic growth is also essential for job creation and technology development. Finding the right balance between global reach and local adaptation is key to success. Support for sustainability initiatives and the journey towards achieving net-zero emissions is of utmost importance.

Many companies are actively working towards net-zero goals, driving innovation and collaboration with governments to achieve sustainability targets. This includes developing sustainable manufacturing facilities, reducing carbon emissions, and adopting environmentally friendly practices. Corporations play a significant role in supporting the global economy.

With substantial capital resources, corporations have the ability to deploy investments that contribute to economic development and growth. Their investment in global economies drives innovation, productivity, and job creation. To summarize, the future of manufacturing lies in the integration of digital technologies, efficient data utilization, and sustainability practices.

From connected buildings to advanced AI and decarbonization efforts, companies that embrace these changes thrive in the evolving manufacturing landscape. Government support and partnerships are crucial for driving manufacturing growth and the adoption of sustainable technologies. By investing in innovation and aligning business strategies with customer needs, companies contribute to economic growth while reducing their environmental impact.

Arguments

Moonshots in manufacturing have not changed, but the approach has improved

Supporting facts:

• US and Europe are short on workforce and need to drive productivity through digitalization and robotics

• Germany has 2 million open jobs

Topics: Digitalization, Robotics, Advanced Manufacturing

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New materials are being developed using AI, reducing the time of development

Supporting facts:

• Materials can be developed on AI base, reducing the development time from years to months

Topics: AI, Material Development, Advanced Manufacturing

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Additive manufacturing allows for designing parts differently

Supporting facts:

• Additive manufacturing allows for different designs and also contributes to a different form of production process

Topics: Additive Manufacturing, Industrial Design

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Manufacturing needs to be seen in a wider range, beyond just the factory

Supporting facts:

• His company operates 500 coders globally in 37 different nations

• Covers a wide range of sectors from airfoil coding to 3D parts for defense sector

Topics: Manufacturing, Globalization, Workforce

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Customer demands and the capability requirement of employees should align

Supporting facts:

• The current technology allows better understanding of customer demands

• The requirement for employees varies widely depending on the country

Topics: Customer Satisfaction, Employee Skills, Manufacturing

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Companies should have the ability to reinvent themselves

Supporting facts:

• His company, founded in 1876, has managed to survive through constant reinvention

Topics: Company Growth, Innovation

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The society and government need to understand the power of technology in the energy transition.

Supporting facts:

• With coatings in jet engines, airlines are saving 25 million tons carbon dioxide a year.

• Higher potential for carbon reduction with the enhanced use of synthetic fuels and green hydrogen.

Topics: Energy Transition, Technology, Government

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Government should define the objective and not the means to achieve the objective in relation to energy transitions.

Supporting facts:

• Technicians needs to be given the chance to create innovations and solutions without being tie down by narrow regulations.

Topics: Energy Transition, Government, Policy

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Next generation coatings will have faster paybacks

Supporting facts:

• Lifetime of cutting tools gets 50% up with the next generation of coatings

• Higher turbine intake with high entropy oxides

• Better erosion in sand environments

Topics: Coatings, Cutting tools, High entropy oxides, Thermal spary on turbines

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Michael Süss believes we will have a multipolar world

Supporting facts:

• Mentioned the movement towards more local rather than global but not completely excluding it

• Suggests coexistence even under different values and political systems

Topics: Geopolitics, Global Economy

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Michael Süss stresses the importance of education as a solution to societal issues

Supporting facts:

• Stated that wealth creation, which drives the global economy, forms the base for education

Topics: Education, Societal Development

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Being part of new technologies is crucial for remaining relevant

Topics: Technology, Innovation

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Report

During the analysis, several key points were identified from different speakers. One of the main points highlighted the need to enhance productivity in the manufacturing sector through digitalization and robotics. This is due to workforce shortages faced by countries like the US and Europe.

The speakers emphasized that embracing digital technologies and automation can help drive productivity and mitigate the impact of the labour shortage. Supporting this argument, it was mentioned that Germany alone has approximately 2 million open jobs in the manufacturing field. Another important topic discussed was the use of artificial intelligence (AI) in material development.

The analysis revealed that materials can now be developed using AI, significantly reducing the time required for development from years to months. This advancement in AI technology presents an opportunity for faster innovation in materials, which could have implications for various industries.

The analysis also explored the concept of additive manufacturing, highlighting that it allows for the creation of parts with different designs and contributes to a more diverse production process. This suggests a potential shift in traditional manufacturing approaches towards more flexible and customizable production methods.

The importance of manufacturing for job creation and wealth creation was strongly advocated. The speakers argued that industrial societies are more effective in generating wealth, emphasizing the positive impact manufacturing activities can have on the economy. Reinvention was identified as a crucial factor for companies to remain competitive and successful.

It was noted that companies should have the ability to adapt and constantly reinvent themselves in order to stay relevant in the dynamic business environment. The example of a long-standing company founded in 1876 was cited to illustrate how constant reinvention can contribute to its survival.

Furthermore, the analysis highlighted the need to view manufacturing in a broader context beyond just the factory. Manufacturing was discussed as a multidimensional concept that encompasses various sectors and extends globally. It was emphasised that manufacturing should be perceived as a wider range of activities, involving not only physical production but also technological capabilities and global operations.

The alignment of customer demands and employee skills was identified as a critical factor for manufacturing success. The analysis pointed out that current technology allows for better understanding of customer demands, and it is essential for companies to ensure that their employees possess the necessary skills to meet those demands.

However, it was noted that the specific skill requirements may vary widely depending on the country and regional context. The concept of trust-shoring, which implies considering trust levels when determining a company’s location strategy, was raised as an essential consideration.

The analysis highlighted that companies should seek locations with high levels of trust in terms of finding capable people, a favourable environment, and availability of energy and capital. Geopolitical issues were also noted as factors that should be taken into account.

The analysis also touched upon the challenges and opportunities present in the global market. It was noted that the global population of 8 billion people presents numerous technical challenges, which manufacturing companies can address by providing technical solutions. This highlights the potential for manufacturing companies to contribute to global development and innovation.

The topic of energy transition and its relationship to manufacturing and technology was explored. It was argued that society and government should recognise the power of technology in achieving an energy transition. The analysis provided examples of how the use of coatings in jet engines has led to significant carbon reduction.

Additionally, it was suggested that giving technicians the freedom to create innovations and solutions without being overly constrained by narrow regulations is crucial to the success of energy transitions. A pro-growth strategy was deemed essential for effective energy transition. The analysis revealed that the market for energy-related technologies is growing faster than it can be consumed.

This presents opportunities for economic growth and suggests that a strategy that fosters growth can contribute to a successful energy transition. The analysis also explored advancements in coatings, cutting tools, and high entropy oxides, highlighting their potential benefits for manufacturing.

Next-generation coatings were discussed as having faster paybacks due to significant improvements in the lifetime of cutting tools. Moreover, the use of high entropy oxides was noted to enhance turbine intake and improve erosion in sand environments. These advancements can contribute to more efficient and sustainable manufacturing processes.

The challenges associated with the adoption of digitalization and 3D printing were also addressed. The analysis noted that these technologies can be seen as uphill battles for companies due to the high costs and uncertainty surrounding their paybacks. However, it was suggested that companies still need to afford these technologies, as their adoption is crucial for remaining relevant in the increasingly digitised manufacturing landscape.

In terms of geopolitical considerations, the analysis mentioned a movement towards a multipolar world, indicating a shift away from a purely global approach. The importance of tolerance and the ability to “agree to disagree” in a multipolar world was highlighted as essential.

The speakers stressed the possibility of coexistence even under different values and political systems, emphasising the need for collaboration and understanding. Education was discussed as a fundamental solution to societal issues, with wealth creation being highlighted as the foundation for education.

The analysis emphasised the importance of providing accessible and quality education as a means to address societal challenges and foster development. The analysis also touched upon the importance of prudence and creating backup options when interacting with societies or systems with low levels of trust.

It was acknowledged that having contingency plans or alternative strategies in place can help manage potential risks and uncertainties associated with low levels of trust. Lastly, the speakers emphasised the significance of embracing new technologies to remain relevant and competitive.

Being part of new technological advancements was recognised as crucial for companies to adapt to changing market dynamics and retain their position in the industry. In conclusion, the analysis provided valuable insights into various aspects of manufacturing, technology, energy transition, geopolitical considerations, and societal impacts.

The key points discussed highlighted the need for digitalisation and robotics in manufacturing, the role of AI in material development, the potential of additive manufacturing, the significance of manufacturing for job and wealth creation, the importance of companies to reinvent themselves, the broader perspective of manufacturing beyond the factory, the alignment of customer demands and employee skills, and the concept of trust-shoring in location strategies.

The analysis also addressed challenges and opportunities in the global market, emphasised the role of technology in energy transition, discussed the importance of a pro-growth approach, highlighted advancements in coatings and cutting tools, and acknowledged the adoption challenges of digitalisation and 3D printing.

The analysis further explored geopolitical considerations, the importance of education, the need for prudence and backup options, and the significance of embracing new technologies. Overall, the analysis provided a comprehensive overview of the key points, arguments, and evidence surrounding manufacturing and its related topics.

Arguments

Report

Li Xin concluded the discussion by emphasising the importance of raising social awareness about moonshots in manufacturing. This highlights the significance of responsible consumption and production, as well as industry, innovation, and infrastructure, all of which are key elements of the Sustainable Development Goals (SDGs).

Moonshots in manufacturing involve setting ambitious and disruptive goals to push the boundaries of technological innovation and progress. Implementing these projects in the manufacturing sector can drive significant advancements and address global challenges. By increasing social awareness, societies can better understand and appreciate the potential benefits of moonshots in manufacturing.

This can help garner support and resources for these initiatives, paving the way for successful implementation and long-term impact. The related SDGs of industry, innovation, and infrastructure (SDG9) and responsible consumption and production (SDG12) further justify the relevance of moonshots in manufacturing.

SDG9 promotes sustainable industrialisation, innovation, and access to reliable infrastructure. SDG12 focuses on responsible production and consumption to minimise waste and environmental impact. Although the discussion had a neutral sentiment and lacked supporting evidence, emphasising social awareness remains significant in fostering understanding and acceptance of moonshots in manufacturing.

In summary, Li Xin highlighted the importance of raising social awareness about moonshots in manufacturing, emphasising responsible consumption and production, as well as industry, innovation, and infrastructure. The related SDGs further reinforced the significance of these concepts. Despite the neutral sentiment and lack of supporting evidence, the emphasis on social awareness provides valuable insights into the potential impact of moonshots in manufacturing and the need for widespread support.

Arguments

Need of AI in manufacturing

Supporting facts:

• Most manufacturing today is fairly small and disparate.

• Large factories have tremendous capital but smaller ones are often disparate and lack similar resources.

• AI could help achieve the same level of efficiency and productivity globally in manufacturing.

Topics: AI, Manufacturing, Productivity

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Flexibility in the end-to-end planning of the supply chain could lead to a more efficient solution during a crisis

Supporting facts:

• Solving the recent supply chain crisis required a heavy investment in inventory; a more flexible approach may have been more capital efficient.

• The complexities of manufacturing and automation systems make such flexibility a challenge.

Topics: Supply Chain Management, Crisis Management

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availability of good sustainable power

Supporting facts:

• availability of power is going to be the next crisis

Topics: clean power, manufacturing growth, manufacturing, sustainability

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workforce skilling

Supporting facts:

• technology is moving fast and changing fast

Topics: public-private partnership, technology, futuristic skills

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Return on reinvestment in digital technologies for manufacturing is obvious and significant.

Supporting facts:

• Most of manufacturing today is built up of many different software systems that are put together to run a factory

• Factories receive products from numerous suppliers which come in different ways and capacities

• Forecasts are inherently wrong, creating a need for more efficient systems

Topics: Manufacturing, digital technology, AI, Data Analytics

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Center for Advanced Manufacturing that WEF runs has tremendous amount of information available.

Supporting facts:

• A cybersecurity handbook for manufacturing is coming out in 2024.

• The Center for Advanced Manufacturing is doing practical work for manufacturing companies across the world.

Topics: Center for Advanced Manufacturing, WEF, Information Availability

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Revathi Advaithi is optimistic about the future

Supporting facts:

• We’ve been through a pandemic, we continue to go through it in some ways, we’ve been through a supply chain crisis, geopolitical issues

• I believe that it continues to be innovative and very successful in navigating through all these issues that we see

Topics: Pandemic, Supply Chain Crisis, Geopolitical Issues, Innovation

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The importance of cautious and responsible deployment

Supporting facts:

• George Oliver’s opinion of needing balance in technology deployment

Topics: Manufacturing, Technology deployment

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Report

The experts in the discussion touch upon various important aspects of manufacturing and innovation. One key argument is the need for AI in manufacturing to enhance efficiency and productivity on a global scale. The speakers highlight that while large factories have extensive capital and resources, many smaller manufacturing units are often disparate and lack the same level of efficiency.

They argue that AI has the potential to bridge this gap and enable smaller units to achieve the same level of productivity as larger ones. On the other hand, some participants express a negative stance, suggesting that despite the global shifts in supply chains over the last two decades, manufacturing has not significantly increased its productivity.

They raise questions about whether the industry has truly benefited from these changes. Flexibility in supply chain planning is presented as a crucial factor in efficiently handling future crises. The current supply chain crisis is cited as an example where heavy investment in inventory proved to be less capital efficient.

The complexity of manufacturing and automation systems is identified as a challenge in achieving the desired flexibility. The availability of sustainable power is emphasised as a vital component for the future of manufacturing. The experts point out that the availability of power is expected to become the next crisis and highlight the importance of reliable and clean energy sources.

Workforce skilling and government support are deemed critical for manufacturing growth. The speakers argue that with the rapid advancement of technology, it is necessary to skill the workforce to keep pace with changing demands. They also stress the need for public-private partnerships in workforce development and emphasise the role of government support in facilitating manufacturing growth.

The return on investment in digital technologies for manufacturing is highlighted as significant. The experts point out that most manufacturing processes today consist of various software systems and suppliers, making forecasting inherently unreliable. They argue that investment in digital technologies can improve efficiency in this context.

However, the pace of implementing technological advancements is identified as a challenge. While the evidence supports the positive returns from technology investments in manufacturing, the complexity of factory systems and the wide array of forecasts make the implementation and speed of change more difficult.

The Centre for Advanced Manufacturing, run by the World Economic Forum (WEF), is recognised as a valuable resource with a significant amount of information available. The experts mention that a cybersecurity handbook for manufacturing is set to be released in 2024.

It is suggested that companies utilise the resources of the Centre for Advanced Manufacturing, particularly in areas such as resilience, efficiency, and workforce development. Revathi Advaithi expresses optimism about the future, despite the challenges manufacturing faces such as the pandemic, supply chain crises, and geopolitical issues.

She believes that private enterprise has the power to innovate and successfully navigate through these challenges. In conclusion, the experts in the discussion shed light on various important factors in manufacturing and innovation. They emphasise the need for AI, flexibility in supply chain planning, sustainable power, workforce skilling, and government support.

The benefits of investment in digital technologies for manufacturing are highlighted, alongside challenges in implementation. The Centre for Advanced Manufacturing is acknowledged as a valuable resource, and optimism for the future of manufacturing is expressed, especially in terms of private enterprise and responsible deployment of technology.

Arguments

Digital transformation, use of IoT, AI, and connected technologies are seen as future moonshots.

Topics: Digital Transformation, IoT, AI

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Need for scaling up large scale semiconductor manufacturing globally.

Supporting facts:

• Honeywell is working on aviation, automation, and energy transition

Topics: Semiconductor Manufacturing, Tech Innovations

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The development of new technologies such as urban air mobility and green hydrogen are imminent moonshots.

Supporting facts:

• Urban Air Mobility is a new and innovative platform being developed

• The challenge is making green hydrogen affordable for everyone

Topics: Urban Air Mobility, Green Hydrogen

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Manufacturing should be appreciated as a technology of the future.

Supporting facts:

• Flying a plane safely and landing it is an example of manufacturing technology

• Semiconductor manufacturing is a technology

Topics: Manufacturing, Future Technology

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The workforce challenge in manufacturing is underestimated, particularly in aviation

Supporting facts:

• Aviation is the biggest segment for Vimal Kapur’s company

• The biggest supply chain constraints they face is due to a shortage of people who can make products

Topics: Workforce, Manufacturing, Aviation

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Addressing the labour problem and using AI in manufacturing opens up opportunities for drawing in new talent

Supporting facts:

• Manufacturing has not attracted talent for the last decades

Topics: AI, Manufacturing, Talent Acquisition

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Vimal Kapur believes that for a successful energy transition, technology is a big enabler and social awareness is necessary.

Supporting facts:

• His company Honeywell is working on creating new technologies for energy transition.

• He mentions the example of people’s willingness to buy EV cars as a manifestation of their contribution to climate change.

• He suggests that consumers should also be aware that we can pay 30 or 40% more for plane tickets to enable the transition to sustainable fuel.

Topics: Energy Transition, Technology, Social Awareness

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Industrial companies need to invest energy into where R&D dollars are spent

Supporting facts:

• Honeywell spends $1.6 billion a year on R&D

• Leadership team needs to accept some level of failure rate with new technologies

Topics: Investment, R&D, Industrial Companies

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Investing in emerging areas and taking measured risks can lead to significant impact

Supporting facts:

• Honeywell invested in quantum computing and urban air mobility without external influence

• Honeywell is investing in energy storage flow batteries as an alternative to lithium-ion batteries

Topics: Investment, Emerging Technologies, Risk Management

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Vimal Kapur expresses that his company wants geopolitical stability and a peaceful world

Supporting facts:

• He stated that their company aims for peaceful global cooperation

• He mentions they want all countries to have free trade

Topics: geopolitical stability, peace

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His company contributes to global welfare by creating employment and providing best products and services

Supporting facts:

• He mentions the company contributes by generating job opportunities in every country

• He stresses on importance of offering best services and products

Topics: employment, product and service quality

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Manufacturing is a solution to a lot of problems we are facing

Topics: Manufacturing

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Report

During the discussion, the speakers delved into the topic of digital transformation, emphasising the significance of using IoT, AI, and connected technologies for future advancements. They viewed these technological advancements as crucial moonshots on the horizon. Semiconductor manufacturing also took centre stage, with a focus on the need to scale up large-scale manufacturing globally.

Honeywell, for instance, has been concentrating on aviation, automation, and energy transition within this sector. While the sentiment around this topic was neutral, it was evident that there is a recognised need to enhance manufacturing capacities. The development of new technologies such as urban air mobility and green hydrogen was also highlighted as imminent moonshots.

Urban Air Mobility, in particular, was presented as an innovative platform yet to be fully developed. However, the challenge lies in making green hydrogen affordable for everyone. These advancements in technology align with the Sustainable Development Goals (SDGs) of Innovation and Infrastructure, Affordable and Clean Energy, and Sustainable Cities and Communities.

Furthermore, the speakers stressed the importance of appreciating manufacturing as a technology of the future. They cited examples such as flying a plane safely and landing it, as well as semiconductor manufacturing, to emphasise its significance. Manufacturing was believed to be an industry that solves highly technical problems and should receive recognition accordingly.

It was argued that the workforce challenge in manufacturing, particularly in aviation, is often underestimated. Vimal Kapur, the CEO of Honeywell, highlighted that the biggest supply chain constraints they face are due to a shortage of skilled workers. The sentiment around this issue was negative, suggesting that there is a need to address the workforce challenge in manufacturing.

On the other hand, AI was seen as a tool that could supplement and increase productivity in the workforce, especially for less experienced workers. The application of AI in manufacturing was presented as a positive way to enhance workforce productivity and output.

The discussion also shed light on the topic of talent acquisition in the manufacturing industry. It was mentioned that manufacturing has not been able to attract talent in recent decades. Addressing this labour problem and utilising AI in manufacturing were identified as potential solutions that could attract new talent.

The role of technology in energy transition was another significant point of discussion. It was argued that technology plays a crucial role in enabling a successful transition to sustainable energy sources. However, the adoption of new technologies for energy transition was viewed as slower due to poor social awareness.

The need for social awareness and education was emphasised, as public collaboration and support are necessary for a successful energy transition. The importance of investment in research and development (R&D) was emphasised, with Honeywell being cited as an example.

Honeywell invests $1.6 billion annually in R&D, indicating the significant financial commitment required for innovation and infrastructure development. Taking measured risks and investing in emerging areas were also highlighted as actions that could yield substantial impacts. One interesting observation from the discussion was the sentiment towards lithium-ion batteries for large-term energy storage.

It was viewed negatively, with an alternative solution in flow batteries being presented. The sentiment suggests that there are concerns about the suitability of lithium-ion batteries for long-term energy storage. Geopolitical stability and peace were mentioned as essential goals for Honeywell.

Vimal Kapur expressed his company’s aim for peaceful global cooperation and advocated for free trade among all countries. However, he acknowledged that contributing to global stability and peace is beyond the control of his company. The discussion also highlighted the role of manufacturing in global welfare, including job creation and the provision of high-quality products and services.

Honeywell’s contributions were emphasised in terms of generating employment opportunities worldwide and the importance of offering the best services and products. In conclusion, the speakers provided valuable insights into various topics related to innovation, infrastructure, and talent acquisition in the manufacturing industry.

They highlighted the importance of technological advancements, energy transition, and social awareness for a sustainable future. The need for investment in research and development, addressing workforce challenges, and maintaining global stability and peace were also prominent themes. Manufacturing was seen as a solution to many of the problems faced today.