Bringing humanity and technology together to solve real-world enterprise problems
Missed the GamesBeat Summit excitement? Don’t worry! You can tune in now to catch all of the live and virtual sessions here.
In the constantly evolving world we live in, marked by events such as COVID-19, inflation, natural disasters, and war, the global economy continues to face numerous challenges. Manufacturing enterprises, in particular, have been grappling with the surge in consumer demand, labor shortages, and supply chain issues. Shilpa Prasad, Director of New Ventures at LG, addressed these ongoing challenges at the Transform 2023 event this week.
During a fireside chat with Sokwoo Rhee, Corporate Senior Vice President of Innovation at LG Electronics and Head of the LG NOVA incubator, Prasad discussed the importance of utilizing new technologies to revolutionize our daily work life. LG NOVA, the North American innovation arm for LG Electronics, is responsible for selling 20 million devices annually. Being a $70 billion manufacturer with 128 factories and 85,000 employees, LG already incorporates robotics, automation, and artificial intelligence (AI) in its factories. However, the company is constantly exploring ways to further leverage AI to enhance operations.
Prasad emphasized that while the focus is on product and process improvements, it is also crucial to prioritize the workforce and the individuals being hired. Technology must be employed to address these priorities, with a special emphasis on generative AI, according to Prasad.
LG Electronics introduced the Q platform in 2017, which utilizes computer vision and AI to detect defects in products. This technology has significantly contributed to meeting production targets at LG’s factory in Clarksville, Tennessee. Rhee highlighted the value of AI in enhancing operational efficiency and enabling informed decision-making at every step of the production process.
To achieve these goals, LG collaborates with various stakeholders, including startups, investors, and large corporate partners. The objective is not merely to confine AI expertise to servers, but to apply it where it is most needed.
Prasad acknowledged the multitude of areas where generative AI can be applied, be it in sustainability, worker assistance, product design, or factory analytics. However, she admitted that while the potential and application of this technology are evident, there is still a need for more tangible success stories to showcase its impact.
One of the key challenges faced in the workforce is the impending retirement of the baby boomer generation. With 10,000 people reaching the age of 65 every day in the United States, there is a significant gap in the skilled workforce. Prasad stressed that the new generation of workers, Gen Z, expects technology to bridge this gap and facilitate learning through intuitive means.
According to Rhee, the pace of change in the industry and technology is accelerating exponentially. As a result, the workforce needs to adapt and acquire new skills swiftly. The traditional approach of relying on a single skill set until retirement is no longer viable, and companies must consider the role of technology, AI, and retraining to address the changing workforce landscape. Collaboration between governments, big companies, and small enterprises is essential to navigate these challenges and ensure a better quality of life for workers.
Prasad also emphasized the importance of employee engagement and taking workers’ desires into account while shaping the future of manufacturing. This long-term evolution process requires the integration of exponential technologies like generative AI with augmented reality, virtual reality, and mixed reality for more intuitive training experiences.
In the short term, Prasad believes generative AI can be instrumental in data transfer and interaction between humans and machines, as well as in bolstering cybersecurity measures in factories. However, she acknowledges the ongoing trade-off between data accessibility and the need for robust cybersecurity and privacy protection.
As technology continues to shape the manufacturing landscape, it is evident that the synergy between humanity and technology is vital in solving real-world enterprise problems. LG Electronics recognizes this and strives to leverage AI and other emerging technologies to drive innovation, enhance productivity, and address workforce challenges. The future of manufacturing lies in harnessing the potential of AI and ensuring that it benefits both businesses and individuals across various sectors.
