Whilst many leading manufacturers are adopting modern technology and thus positioning themselves to take advantage of it, NatWest’s research shows that there are a considerable number of industry participants feeling dazed by the exponential speed at which technology is developing.
Karthik Sundaram of UK consulting firm Frost & Sullivan, advised, “UK manufacturers can no longer afford to be conservative in their future strategies. They need new technological thinking and collaborations – or they will be left behind.”
Manufacturers are generally aware of the importance of implementing new technology. 68% of manufacturing leaders feel that technologists will be the most in-demand skillset by 2050. Currently, however, there is little evidence to show manufacturers are preparing for this potential need.
With new technologies, the opportunities are infinite. It’s crucial for manufacturers to move towards embracing new innovations, and equally important for them to work together to collectively consume the revolutionary productivity that technology can bring.
Read the full research here.
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