By Shilpa Prasad
Despite the hype surrounding Industry 4.0, a global skills and labor shortage is hampering progress. This shortage has particularly impacted manufacturing, where an existing skills gap was exacerbated by the pandemic. According to Deloitte, U.S. manufacturing alone is expected to have 2.1 million unfilled jobs by 2030. Further, a study by the Institution of Engineering Technology (IET) cites nearly half (49%) of engineering companies experience difficulties with a lack of skills available in the external labor market and 45% face skills gaps or limitations within their internal workforce.
Luckily, advancements in generative AI, the industrial “metaverse” and other emerging technology are growing and evolving every day. Many of their applications have the potential to help alleviate today’s most pressing challenges in the industrial sector.
LG Electronics is an example of a company that is investing time and resources into harnessing the power of new technology to support industrial manufacturing and engineering processes. Launched in 2021, LG Electronics’ North America Innovation Center—LG NOVA—is exploring new concepts and creating new businesses focused on solving real-world problems across a variety of industries.
Read the full article on EE Times at https://www.eetimes.com/transforming-front-line-training-in-manufacturing-and-engineering-for-industries-of-the-future/