Manufacturers are up against AI, workforce productivity and innovation speed challenges

Most manufacturing companies face barriers to new product innovation, yet 78% are actively evaluating tech solutions that will make product development more efficient.

That is one of the high-level takeaways from the8th annual State of Manufacturing survey, conducted by Fictiv.Fictiv provides an operating system for custom manufacturing, allowing companies to improve speed to market for mechanical parts.

The 2023 data found an 11-point increase, from 38% in 2022 to 49% in the current survey, of leaders focused on accelerating the speed of new product innovation, indicating a strategic shift from “survive to thrive,” the company said. On the flip side, though, is that 94% of companies report barriers to new product innovation.

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