December 8, 2023 Publisher’s Letter

Volume 26 | Issue 2

While manufacturers see Artificial Intelligence (AI) as a promising tool to help close an ever-challenging talent gap, there are reasons to not jump too quickly on the AI bandwagon. As Andrew Zarkowsky points out in our lead article, AI Will Continue to Create Change Impacting Risk, AI products are largely untested, and buying too quickly into the hype carries financial risk. An example is the use of self-driving vehicles and robots in use on the factory floor. What happens if one of these causes a bodily injury? Assessing who is liable for the damage is tricky (is it the software, the hardware, or the human responsible for maintaining the technology?). The problem is further compounded because there are no general guidelines for determining liability, and local rules, if any, vary. If AI fails, it can have a big impact on finances. How do manufacturers protect themselves when, not if, their AI systems cause damage?

A well-trained and experienced workforce is vital to any business, but particularly so to electric battery manufacturing, which requires a unique set of skills, encompassing everything from process control to quality assurance and safety management. There is still a limited pool of experts with holistic knowledge in battery technology or production, which can hinder the scaling-up process as auto manufacturers transition to electric vehicle (EV) platforms. The challenges facing EV battery makers, and possible ways to address them, are discussed by Rob Sweeny, VP of Battery Engineering for Lithos, in Powering the Future: Domestic EV Battery Evolution.

Yet another challenge facing manufacturers is the role of taxes in supply chain management. As global trade complexities and supply chain volatility continue to dominate the business landscape, multinational organizations must adapt and evolve. Ray Grove, Head of Corporate Tax and Trade for Thomson Reuters, covers the best practices for supply chain tax strategies in Smart Tax Strategies to Navigate Global Trade Dynamics.

Elsewhere in this issue are profiles of leading companies in their respective industry sectors. Read about how Fischer, K&B Machine, OTTO, Garaventa Lift, and Vac-Con meet their challenges and provide customers with premium products and services.

We hope you enjoy this issue of Industry Today. Look for the same extensive timely coverage on a weekly basis at industrytoday.com.

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