AI could mitigate engineering brain drain, finds study

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.