AI in manufacturing: adopt early to gain market share

| July 11, 2019
AI IN MANUFACTURING: ADOPT EARLY TO GAIN MARKET SHARE
With research suggesting artificial intelligence in manufacturing could become mainstream within 24 months, what can manufacturers gain from taking an early adopter approach? Tom Leeson reports. New digital technologies such as Artificial Intelligence and the Internet of Things offer huge potential for manufacturers. With AI and advanced analytics to identify patterns and trends in the wealth of data generated by the IoT, the barriers between operational technology and information technology are breaking down.

Spotlight

Global Lighting Technologies, Inc

Global Lighting Technologies Inc. is a world leader in new and innovative solutions for high-efficiency LED-based lighting. With sales, engineering and prototyping in the USA and and manufacturing facilities in Taiwan and China, GLT can offer a truly unique combination of advanced LED-based lighting technology, custom backlight engineering, and high-volume, low-cost manufacturing to OEMs and electronic manufacturers.

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5 Stats to Reshape Manufacturing Customer Experience in 2022

Article | November 20, 2021

The manufacturing business has always prioritized providing the excellent and most user-friendly products worldwide to its target consumer groups. However, digitalization and customer interaction approaches have altered the manufacturing industry's traditional business model. Now, manufacturers must prioritize improving the customer experience for their target consumer group and keeping up with new trends daily to flourish and remain competitive in the upgrading market. Because, in the end, the buyer is the one who drives your business and generates money. Manufacturers are committing significant efforts to improve the customer experience in the following years. To assist manufacturers in their sincere efforts to improve the customer experience in the manufacturing industry, we have compiled some key facts that must be understood and executed by the industry's or business-specific needs. Before going into manufacturing customer experience statistics, it's essential to understand why customer experience is so critical in the manufacturing industry. The Importance of Customer Experience in Manufacturing Customer service and experience are critical components of any business, which is true in the manufacturing sector. Customer experience can be described as any activity taken by a business to positively influence a customer's impression and opinion of the business, its products, or services. “You’ve got to start with the Customer Experience and work back toward the technology, not the other way around” – Steve Jobs. Customer experience benefits your business in a variety of ways, including the following, It increases customer retention It increases the customer lifetime value It creates brand loyalty It influences brand reputability It can deliver businesses with a competitive edge. Manufacturing Customer Experience Statistics Make your manufacturing business more customer-centric and reap the benefits that many customer-centric companies, such as Apple, Nissan, and Chick-fil-A, are experiencing. To better understand what the customer and industry have explored regarding the customer experience in 2022, below are some statistics from well-known businesses. #Stat 1 Businesses that prioritize customer experience see an 80% increase in revenue. (Source: Forbes) A positive customer experience increases customer interest in the product and acts as a form of word-of-mouth marketing. This way, the business benefits from increased sales and organic promotion by genuine consumers, critical for any manufacturing organization. # Stat 2 73% of customers say that customer experience influences their purchasing decision. (Source: PWC) Customers are not solely concerned with the product's quality or pricing. Instead, they are interested in the complete experience they get while purchasing a product. Therefore, if customers have a negative experience during the purchasing trip, it is pretty likely that they will leave the purchase process in the middle and hunt for other viable solutions on the market. Whereas, if the purchasing journey and post-purchase service are satisfactory, they will gladly purchase the goods and suggest new clients to your business. # Stat 3 By 2023, AI and machine learning will manage around 40% of all consumer contacts. (Source: Super Office) Manufacturing production and revenue are increasing as a result of technological advances and applications. However, the customer experience is not far behind in implementing cutting-edge technology like AI, VR, and AR. For instance, chat bots are the best example of how artificial intelligence, natural language processing, and machine learning are being used to increase consumer engagement. Virtual interaction is becoming more prevalent in the manufacturing industry daily, and both manufacturers and customers like this digital interaction. “Our interactions with our customers have become much more virtual, which frankly seems to work well for the customer and us.” -Scott Heide, Chief Executive Officer at Engineering Intent Corporation Technology application in manufacturing will be maximized, and businesses intend to automate the customer experience by 2023. # Stat 4 According to 70% of customers, an ideal customer experience should be quick, convenient, and cooperative, as well as friendly. (Source: Adobe) Customer service is a skill, and it's always a good idea to put yourself in your clients' shoes. According to an Adobe study, 70% of customers want a quick and convenient service that saves them time. In addition, they anticipate full collaboration throughout the purchasing process, including post-purchase servicing. # Stat 5 72% of customers with a good consumer experience will tell six or more people about it. (Source: Nice Reply) In the first statistic, we discussed word-of-mouth marketing. You will always receive referrals for the excellent products or services you provide to your target consumer group. Customers that have a positive experience will always bring you two additional potential customers, and this number will grow exponentially with each pleasant experience delivered by your organization. How did MacDonald's plan to increase revenue simply by improving the customer experience? When McDonald's revenues started to decline, they focused on the customer experience rather than marketing strategies. They began by listening to their clients and giving them a more streamlined experience. Customers told McDonald's to simplify the menu, increase order accuracy, and use higher-quality ingredients. McDonald's also improved store interiors and introduced digital self-order kiosks and table service, reducing customer wait times. BTIG predicted a 4.1% increase in revenues as these modifications were made. As a result, McDonald's may outperform competitors by improving total customer service. Final Words Customer experience is crucial in manufacturing, and manufacturers must leverage digital customer experience trends to improve their reputation. These a fore mentioned customer experience statistics can assist you in shaping a compelling client experience for 2022 and propelling your organization to new heights of success. FAQ Why should a manufacturing company invest in customer experience? Client experience improves customer retention, builds brand reputation, and gives companies a competitive edge. So manufacturers must invest in the consumer experience. What is the difference between customer service and customer experience? Customer service is one aspect of the customer journey, whereas consumer experience is the sum of all customer encounters with the brand. What does a customer experience include? Customer experience is the overall perception of your business or brand. It is the consequence of a customer's engagement with your website, customer service, and the product they purchase. So, it is the aggregate of all elements from browsing to buying to the product experience. { "@context": "https://schema.org", "@type": "FAQPage", "mainEntity": [{ "@type": "Question", "name": "Why should a manufacturing company invest in customer experience?", "acceptedAnswer": { "@type": "Answer", "text": "Client experience improves customer retention, builds brand reputation, and gives companies a competitive edge. So manufacturers must invest in the consumer experience." } },{ "@type": "Question", "name": "What is the difference between customer service and customer experience?", "acceptedAnswer": { "@type": "Answer", "text": "Customer service is one aspect of the customer journey, whereas consumer experience is the sum of all customer encounters with the brand." } },{ "@type": "Question", "name": "What does a customer experience include?", "acceptedAnswer": { "@type": "Answer", "text": "Customer experience is the overall perception of your business or brand. It is the consequence of a customer's engagement with your website, customer service, and the product they purchase. So, it is the aggregate of all elements from browsing to buying to the product experience." } }] }

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2022: The Year of Robotics Industry Expansion

Article | November 12, 2021

Robotics industry growth has accelerated rapidly across several industries. It has aided manufacturers in overcoming numerous barriers related to real-time communication, workplace safety, and overall manufacturing cost and timeliness. However, if we trace its history back to 1961 when George Charles Devol introduced the first robot, dubbed 'UNIMATE,' it has exponentially grown and utilized across sectors to make operations more effortless, precise, and faster. “As technology takes over and enhances many of the processes we used to handle with manual labor, we are freed up to use our minds creatively, which leads to bigger and better leaps in innovation and productivity.” – Matt Mong, VP Market Innovation and Project Business Evangelist at Adeaca. However, the industry has seen snags or difficult times due to market fluctuations, unfavorable situations, and the need to remain competitive in the drive for expansion. To thoroughly understand the robotics industry, let us examine each component that surrounds it. Industrial Robotics Global Market Size According to recent Allied Market Research studies, the global industrial robotics market was worth $37,875 million in 2016 and is expected to reach $70,715 million by 2023, rising at a 9.4% compound annual growth from 2017 to 2023. Industrial Robotics Market Analysis The global industrial robotics market is primarily driven by a global increase in labor costs, which has compelled firms to replace human labor with robots. As a result, Asia and Europe are the world's fastest-growing areas, with top companies such as ABB, Fanuc, KUKA, Kawasaki, and Yaskawa Electric Corporation headquartered in the region. The global market of robotics has been segmented by its type, industry, and function. Type Industry Function Articulated Automotive Soldering and Welding Cartesian Electrical & Electronics Materials Handling SCARA Healthcare & Medicine Assembling & Disassembling Cylindrical Rubber & Plastics Painting and Dispensing Others if any Machinery & Metals Cutting and Processing Food & Beverages Milling Precision & Optics Others if any Others if any Industries That Are Pioneering the Use of Robotics As we have observed, the global robotic market will continue to rise in the future years. Therefore, let us examine which industries will extend their use of robotics in their operations. Healthcare & Medicine Medical robots help surgeons optimize hospital logistics and free up the working staff to focus on patients. In the healthcare field, robots are revolutionizing surgery by speeding supply delivery and disinfection and freeing up time for doctors to interact with their patients. da Vinci System – A General Surgical Robot The da Vinci System is a surgical robot that focuses on a wide range of urological, bariatric, and gynecological surgical treatments. In addition, Stryker's MAKO System also specializes in orthopedic surgery, specifically partial and total knee replacements. The da Vinci SP system is cleared for use in the United States exclusively for single-port urological procedures, lateral oropharyngectomy (often referred to as radical tonsillectomy), and tongue base excision. Law Enforcement Police robots are meant to gain access to areas inaccessible or dangerous to first responders, and they are capable of manipulating items and gathering data using several technologies. It encompasses robots capable of operating in various conditions and displaying a range of data and communication capabilities. Agriculture & Food Industry Farm equipment is now routinely equipped with sensors that utilize machine learning and robotics to identify weeds, compute the appropriate quantity of herbicide to spray, or learn to detect and pick strawberries, for instance. Additionally, in the food business, robotics has been used to do repetitive tasks such as picking and placing food items and cutting and slicing food items during any given food item. For instance, the modern bakery business uses robotics to perform traditional craft skills and produce any product in large quantities while maintaining high quality and hygiene standards. Transportation The transportation sector is highly leveraging robotics. The powerful transport capability, advanced control technology, and sensing precision are some of the benefits that make the transportation robots widely utilized in this sector. These benefits from robotics help the sector convey various commodities in factories, restaurants, and medical institutions, among other locations. Manufacturing Robots are employed in manufacturing to do repeated jobs and streamline the overall assembly process. Additionally, robots and humans can also collaborate on product making. Robots can replace humans for hazardous tasks or processes that need large quantities of materials, which might be hazardous for a human employee to handle. Factors Sustaining the Growth of the Robotics Industry Reduces Manufacturing Costs: Robotics application in all industries reduces the overall manufacturing process running costs. Improves Product Quality: The precision of robotics throughout the manufacturing process helps produce high-quality items that meet target client needs. Offers Competitive Market: Increased income due to utilizing the benefits of robotics applications makes any industry more competitive. Speed-ups Production Time: Robotics speeds up production and helps manufacturers increase output. Offers Task or Process Flexibility: Robotics can weld, cast, mold, assemble, machine, transfer, inspect, load, and unload items, among other duties. So, it gives the manufacturer process flexibility. Reduces Excessive Use and Waste of Production Materials: Robotics employs the exact quantity of material required for the manufactured product, reducing waste and overuse of materials. Offers a Safe Working Place: Robotics improves employee health and safety by performing tasks that humans find risky. For example, in the chemical industry, a human employee may not do a hazardous task. In such instances, robots can replace people. Final Words The rise of the robotics industry has accelerated dramatically, and it is now spreading its wings across industries. Research firm IDC provided a projection for the commercial robot market, forecasting that the market will exceed $53 billion by 2022, with a compound annual growth rate of more than 20%. In addition, several advantages of robotics such as safety, productivity, uniformity, and perfection are pushing its expansion and making it an essential element of industry 4.0. FAQs Why are robots the future of the manufacturing industry? The use of robots in manufacturing has improved process efficiency and product quality. As a result, robots are gaining favor in production and becoming the future of manufacturing. Which industries make the most use of robotics? Healthcare, agriculture, food, and manufacturing are the industries that are embracing robotics to get the most out of it. How is manufacturing utilizing robotics? Manufacturing uses robotics for repetitive tasks. This helps in the reduction of errors and human efforts. It also improves production efficiency. { "@context": "https://schema.org", "@type": "FAQPage", "mainEntity": [{ "@type": "Question", "name": "Why are robots the future of the manufacturing industry?", "acceptedAnswer": { "@type": "Answer", "text": "The use of robots in manufacturing has improved process efficiency and product quality. As a result, robots are gaining favor in production and becoming the future of manufacturing." } },{ "@type": "Question", "name": "Which industries make the most use of robotics?", "acceptedAnswer": { "@type": "Answer", "text": "Healthcare, agriculture, food, and manufacturing are the industries that are embracing robotics to get the most out of it." } },{ "@type": "Question", "name": "How is manufacturing utilizing robotics?", "acceptedAnswer": { "@type": "Answer", "text": "Manufacturing uses robotics for repetitive tasks. This helps in the reduction of errors and human efforts. It also improves production efficiency." } }] }

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4 Ways Additive Manufacturing Will Optimize Electronics

Article | May 25, 2021

Additive manufacturing offers the potential to accelerate the pace of electronics manufacturing by creating a number of unique opportunities, such as the ability to combine multiple materials in single print jobs. The technology is also much more accessible than it previously was. Plus, it enables faster prototyping, which could speed the time to market and prevent costly mishaps that disrupt the production process. Here’s a look at some of the many benefits additive manufacturing brings to the electronics sector. One Giant Leap Adoption rates for electronics made with additive manufacturing will continue to climb as people realize its versatility. Thanks to a new project associated with students at Embry-Riddle Aeronautical University, we could see materials made with additive manufacturing are as well-suited for use in space as on Earth.

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How Intent Data for Manufacturers Can be Beneficial in 2021?

Article | April 6, 2021

As the pandemic upended plans for marketing and sales in 2020, it forced marketers in the manufacturing industry to adopt the tactics of the remote world. Many of them are still wondering how they can focus on driving business growth in 2021. Intent data has undoubtedly added some spice to the season of online marketing. Research conducted by B2BecNews on 110 businesses found that 59.5% of business buyers research two to three websites before buying while 29.7% research up to seven websites. The “How” of Intent Data Intent data allows businesses to channel their expenditure to the leads that matter the most. It boosts sales and encourages marketers to be smarter by doing more in less time. Moreover, b2b buyers now tend to look for an immersive digital experience and are likely to conduct more and more searches before engaging with a brand. Such digital activity will tell you what a visitor’s intentions are called the intent data. To drive your business, here are some tried-and-true and unexpectedly productive ways to scale up your marketing and sales game using intent data. Improve your Sales Pitches/Pipelines When you are expanding or redefining your business because you want to target a new market or audience, third-party intent data is a decent place to start. Through intent data, your sales team can build a year’s pipeline by reaching target audiences. To get the value of your sales, you can use intent data categorizing with a professional group, seniority, functional area, business size, and more for targeted prospects. And if your data provides contact information, your sales team will have an even deeper understanding of the dynamics of prospects’ buying activities. Moreover, learning about the fact if a CEO or a random visitor visits your website creates a difference between a quality lead and a generic one. There are times when organizations don’t vigorously look for a product. But with the right content force, you can direct them towards a purchase decision. This way, you can get a chance to pitch and improve sales. So, how can content pitch sales? The next point explains the importance of nurturing content on your website. Nurture with Personalized Content Once you target new prospects, you can nurture them with excellent and informational marketing content. These can be in various forms like articles, blogs, advertisements, social media, infographics, and more. Personalization results better in the sea of marketing (digitally or manually). Since the pandemic has pushed the digital world extensively, personalization is on a hike. Companies that personalize their marketing strategies to communicate are improved by 86% in customer relations, have higher conversation rates, and observed improvement in businesses. To personalize your content, you have to look at intent data and search for the prospect’s interests. After your research, you can create content for them. Paying attention to contextual information will improve the prospect’s experience, causing them to turn into your client. After you create personalized content, what will happen next? Find out ahead. Generate High-Quality Leads Intent data tells you how far each prospect has progressed. A combination of intent and context data helps with lead scoring, which shows you the quality of leads. For example: A visit to your website by an intern is somewhat different from a CEO’s visit. Consuming content on general industry information differs in value from product-specific content that provides information on websites. When a visitor compares prices, it intends to buy, opposite to a visitor who bookmarks pages. Besides, intent data for manufacturers also tells: Channels to target your prospects actively. Content to encourage Offers to serve The timing of each lead nurturing action Improve Account-Based Marketing Campaigns Account-based marketing and intent data go hand-in-hand. So, it would be best if you worked through every possible path to collect more information about your prospects. This way, it will help you take a focused approach. Once you identify the interested prospects, you can focus your time and energy on those accounts and expand your reach. Intent data helps you to find more in-market customers. They can score leads with better precision and re-shape your marketing campaigns by showing up with the right message at the right time. Include Marketing Automation Operations Implementing marketing automation technologies with intent data will save your team's time. As they usually spent analyzing data entry by automatically setting alerts when buyers intend to show their interest. Why is Intent Data for Manufacturing Becoming Crucial for Future? With marketers, or say, manufacturing marketers, it's always vital to drive revenue for business and get ahead with trending marketing paths. For this, knowing intent of prospects is a must to gain success. Knowing a prospector’s behavior can help your marketing team target a specific profile and create personalized content on demand to increase their purchase decision. After all the information is collected, prospects become more knowledgeable and informed of the decision they make. More information attracts more potential buyers when they are informed conveniently at the right time and manner. In this entire process, you gain an increased ROI. These aspects are incomplete without intent data for manufacturers, which targets numerous data and creates an easy baseline so that marketers can learn precisely about potential prospects’ behaviors. Intent data can be used for the future through a particular pattern. Generic marketing campaigns delivered to a random audience will simply shut down your business. Because now, the users expect to see content that’s valuable to them. Therefore, intent data for manufacturers is the key to providing better answers and solutions and allowing better marketing budgets. Both of these lead to more conversions which results in more revenue. Frequently Asked Questions How is intent data collected? The collection of intent data is not new to marketers. It has gained prominence only after the pandemic. The data is gathered through the website. Its analysis is done by tracking visitors to the website, clicks, chatbots, duration of stay, and information search. How can manufacturers leverage intent data? The steps to leverage are: 1. identify the prospect and what it wants to search or trying to search. It could be keywords, trending words or phrases, and more. 2. Create quality yet informational content following the prospects’ interest. 3. Now, it’s time to promote content with the right on different channels to attract prospects. What are the intent data tools for manufacturers? Some good intent data tools manufacturers can use are: Leadfeeder ZoomInfo KickFire DemandJump What is buyer intent data for manufacturers? Through buyer intent data, your sales team easily reaches out and gets engaged with the right prospect at the right time. Manufacturing marketers use it to plan can create effective campaigns to target potential ones and convince them to buy. { "@context": "https://schema.org", "@type": "FAQPage", "mainEntity": [{ "@type": "Question", "name": "HOW IS INTENT DATA COLLECTED?", "acceptedAnswer": { "@type": "Answer", "text": "The collection of intent data is not new to marketers. It has gained prominence only after the pandemic. The data is gathered through the website. Its analysis is done by tracking visitors to the website, clicks, chatbots, duration of stay, and information search." } },{ "@type": "Question", "name": "HOW CAN MANUFACTURERS LEVERAGE INTENT DATA?", "acceptedAnswer": { "@type": "Answer", "text": "The steps to leverage are: 1. identify the prospect and what it wants to search or trying to search. It could be keywords, trending words or phrases, and more. 2. Create quality yet informational content following the prospects’ interest. 3. Now, it’s time to promote content with the right on different channels to attract prospects." } },{ "@type": "Question", "name": "WHAT ARE THE INTENT DATA TOOLS FOR MANUFACTURERS?", "acceptedAnswer": { "@type": "Answer", "text": "Some good intent data tools manufacturers can use are: Leadfeeder ZoomInfo KickFire DemandJump" } },{ "@type": "Question", "name": "WHAT IS BUYER INTENT DATA FOR MANUFACTURERS?", "acceptedAnswer": { "@type": "Answer", "text": "Through buyer intent data, your sales team easily reaches out and gets engaged with the right prospect at the right time. Manufacturing marketers use it to plan can create effective campaigns to target potential ones and convince them to buy." } }] }

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Spotlight

Global Lighting Technologies, Inc

Global Lighting Technologies Inc. is a world leader in new and innovative solutions for high-efficiency LED-based lighting. With sales, engineering and prototyping in the USA and and manufacturing facilities in Taiwan and China, GLT can offer a truly unique combination of advanced LED-based lighting technology, custom backlight engineering, and high-volume, low-cost manufacturing to OEMs and electronic manufacturers.

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