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IPFS News Link • Future Predictions

AI, augmented reality, blockchain and other tech Transforming Manufacturing by 2023

•, brian wang

Prediction 2: By the end of 2019, only 25% of global manufacturers will have reached the managed stage of omni-experience transformation by sensing and responding to customer needs more effectively, and the remaining 75% risk customer attrition, revenue decline, and slower growth.

Prediction 3: By the end of 2019, 50% of manufacturers will be collaborating directly with customers and consumers regarding new and improved product designs through cloud-based crowdsourcing, virtual reality, and product virtualization, thus realizing up to a 5% year-over year increase in revenue.

Prediction 4: By 2019, 60% of manufacturers will have integrated their product lifecycle management (PLM) and product information management (PIM) systems for the continuous improvement of product design and customer experience, thus increasing their customer satisfaction scores.

Prediction 5: By the end of 2020, 65% of manufacturers will be using simulation and digital twins to operate products and/or assets, reducing the cost of quality defects and service delivery by up to 25%.