Automation and artificial intelligence (AI) are transforming businesses and will contribute to economic growth via contributions to productivity. They will also help address “moonshot” societal challenges in areas from health to climate change.

The adoption of AI in the manufacturing industry should be seen as a positive development, and fruitful results can be achieved through training and re-skilling the existing workforce. AI and automation will allow humans to focus on activities that generate more value for their roles and the business. Working knowledge of the latest technologies used in manufacturing, combined with the hands-on expertise that the current workforce possesses, can position them at the forefront of the manufacturing industry transformation.

Automation and AI are set to redesign the entire retail industry model and the broader value chain. This transition will result in the emergence of organizations with fewer layers and a better-skilled, and trusted workforce backed by real-time data and analytics. With a more well-rounded team and newer roles that are a hybrid between technology and business, organizations will have a much faster decision-making process.