56 pc of manufacturing executives say they have plans on transformative technologies

MOUNTAIN VIEW, USA: Modern industries' requirements to slash costs, hasten product innovation, and cut through the clutter, are chipping away at their resistance to transformative technologies. Manufacturers are increasingly investing in a variety of transformative technologies; however many still lack mature, robust processes for identifying and evaluating the impact of key emerging technologies on their competitiveness.

A new whitepaper from Frost & Sullivan (TransformativeTechnologies), Transformative Technologies in Manufacturing: Investments Rise in a Search for Competitive Advantage, analyzes manufacturers' plans to invest in a wide range of transformative technologies including mobile devices and platforms, advanced analytics, sensor networks, and advanced robotics.

Accoprding to a release, nearly 56 percent of manufacturing executives said their companies plan to accelerate the evaluation and adoption of transformative technologies over the next two years. And 51 percent said their companies will increase the pace of financial investments in transformative technologies.

But only 28 percent of manufacturers claim to use formal processes, linked to business goals, to evaluate transformative technologies. This lack of process maturity could lead to duplication or mistimed investments in transformative technologies.