Over the past 2 years there have been many lingering effects of the COVID-19 Pandemic and in combination with continued supply chain issues, worker shortages, high levels of inflation and certain geo-political conflicts. Despite the fear of a recession and predicted decline in growth, industrial markets did not typically suffer from demand problems, although often impacted by supply chain issues and the ability to find both skilled and unskilled workers to fill many open positions.

1. Artificial Intelligence (AI)

New digital transformation technologies used to augment people and processes across the manufacturing industries in the edge cloud, combined with artificial intelligence (AI), are changing the way people work and how companies perform. AI-enabled solutions are a major component of digital transformation. This transformation is enabled by augmenting people and knowledge through the expanded use of IIoT sensors, current and historical data, and predictive and prescriptive analytics. While AI is currently being used for advanced data analytics and to generate new insights predictions, prognostics, or recommendations, we see this technology playing a greater role that significantly impacts everything from workflows to production efficiency.