September 16, 2021
New forms of human-machine interaction, as well as advances in artificially intelligence (AI) technologies, give manufacturers better connectivity between their customers and supply chains, as well as more flexibility to produce differentiated products to meet consumer demand. However, the amount of technological advancement that once occurred over a number of years is now happening in a fraction of that time. As technologies continue to accelerate and disrupt, the great differentiator won’t simply be a matter of quality or cost but how quickly one company can innovate over another. According to Austrade, over the next 20 years Australia’s manufacturing industry will evolve into a highly integrated, collaborative and export-focused ecosystem that provides high-value customised solutions within global value chains. The sector will focus on pre-production (design, research and development) and post-production (after-sales services) value-adding, sustainable manufacturing and low-volume, high-margin customised manufacturing. To enable this vision, Australia’s manufacturing sector will increasingly rely on sensors and data analytics, AI technology,…