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What’s on the Minds of Manufacturing CEOs?
Manufacturing CEOs are making big plans for 2024, including accelerating investments in arti cial intelligence, automation and robotics, while also raising the skill level of their current employees and recruiting highly trained workers. That’s the consensus of a year-long series of polls conducted by Xometry, an AI-powered, on-demand industrial parts marketplace. Here are some in-depth ndings from the polls: • Modernizing through AI. Manufacturing CEOs say AI will play a signi cant role in their company in the next one to two years. Of the CEOs who have already implemented AI, more than 70% have seen signi cant ROI in key areas such as supply chain management, quality control, and procurement. • Domesticating manufacturing. Reshoring will continue to trend upwards with 76% of manufacturing CEOs having successfully reshored some or all of their operations throughout 2023, a move accelerated by federal tax incentives and initiatives such as “Build America, Buy America.”
• Tapping the brakes on EVs. While the automotive industry is primed for growth and innovation in 2024, EV manufacturers may be taking their foot off the accelerator when it comes to electric vehicles. Xometry’s Automotive Survey nds that 84% of automotive executives said current production timelines and waning consumer demand may make it dif cult for the industry to meet the Biden Administration’s goals for the years ahead. • Tracking a more sustainable future. Though EVs may be hitting a road bump for now, manufacturers are taking proactive action to limit greenhouse gas emissions
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