AI could mitigate engineering brain drain, finds study

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A new study by Fictiv, a manufacturing services firm, has found that the manufacturing industry may face a shortage of engineers in the near future and AI could offer a solution to the problem. The study surveyed 241 high-level executives from companies of all sizes that manufacture consumer electronics, medical devices, and cars, and found that 97% of respondents predict a shortage of mechanical engineering talent. Additionally, nearly half of those surveyed reported difficulty in retaining highly-skilled workers and recruiting new staff. Dave Evans, CEO of Fictiv, said that this talent gap is due to a shortage of students graduating with engineering degrees.
The study also highlighted economic uncertainty, inflation, and supply chain disruptions forcing companies to reduce their costs through layoffs and hiring freezes, aggravating the labor shortage. To address this gap, many respondents indicated plans to adopt or have already adopted AI technology, such as supply chain visualization platforms and industry-specific robots, to enhance productivity. Additionally, 62% of executives surveyed reported training their existing workforce in AI, particularly virtual and augmented reality systems, to improve product design innovation. The study found that 97% of respondents believe AI tools can improve product development and manufacturing tasks, such as quality control and product design.

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Frequently Asked Questions (FAQs) Related to the Above News

What did the study by Fictiv reveal about the manufacturing industry's future?

The study revealed that the manufacturing industry may face a shortage of engineers in the near future.

Which sectors were surveyed by Fictiv in their study?

Fictiv surveyed companies of all sizes that manufacture consumer electronics, medical devices, and cars.

What percentage of executives surveyed predicted a shortage of mechanical engineering talent?

97% of executives surveyed predicted a shortage of mechanical engineering talent.

What difficulties did almost half of those surveyed report facing?

Nearly half of those surveyed reported difficulty in retaining highly-skilled workers and recruiting new staff.

What is the reason for the talent gap according to Dave Evans, CEO of Fictiv?

According to Dave Evans, the talent gap is due to a shortage of students graduating with engineering degrees.

How have economic uncertainty, inflation, and supply chain disruptions affected the labor shortage in the manufacturing industry?

These factors have forced companies to reduce their costs through layoffs and hiring freezes, aggravating the labor shortage.

What plans do many executives have to address this labor gap?

Many executives indicated plans to adopt or have already adopted AI technology to enhance productivity.

How are companies training their existing workforce in AI?

62% of executives surveyed reported training their existing workforce in AI, particularly virtual and augmented reality systems, to improve product design innovation.

In which tasks do 97% of respondents believe AI tools can improve in product development and manufacturing?

AI tools can improve product development and manufacturing tasks, such as quality control and product design, according to 97% of respondents.

Please note that the FAQs provided on this page are based on the news article published. While we strive to provide accurate and up-to-date information, it is always recommended to consult relevant authorities or professionals before making any decisions or taking action based on the FAQs or the news article.

Advait Gupta
Advait Gupta
Advait is our expert writer and manager for the Artificial Intelligence category. His passion for AI research and its advancements drives him to deliver in-depth articles that explore the frontiers of this rapidly evolving field. Advait's articles delve into the latest breakthroughs, trends, and ethical considerations, keeping readers at the forefront of AI knowledge.

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