Almost three quarters (73%) of companies believe the cloud will be the preferred method for labelling applications within the next three years.
This is according to an annual report published by Loftware, a software company specialising in enterprise labelling and artwork management solutions.
The figure compares to just 50% of respondents reporting their company’s likelihood of adopting a cloud-based solution a year ago.
The global report (‘Top 5 Trends in Labeling and Packaging Artwork 2022’), which draws on insights from nearly 1,000 professionals across industries in 55 countries, found a significant shift in business attitudes toward cloud technology over the last 12 months. Driven by the COVID-19 pandemic and recent supply chain crisis, businesses now recognize that labeling is no longer a tactical necessity, but an enabler for business growth and agile supply chain operations.
The majority of business leaders surveyed (90%) recognise that standardising and centralising labelling will help them to keep pace with business growth, while more than eight in ten (84%) companies cited cost savings and compliance as key benefits of introducing a modern labeling solution. While 42% of businesses reported having already moved to the cloud for their enterprise applications, more than half risk lagging behind their peers.
Josh Roffman, Loftware senior VP of marketing and product management, said: “When speaking to our customers and partners, it’s clear that one subject is top of mind: cloud adoption. Forward thinking companies see the opportunity. There is huge potential to scale, standardise practice, and ultimately drive improvements across the enterprise. Businesses that can effectively pivot and embrace new plans for maintaining business will have a competitive edge and set themselves up for future success.”
The report also revealed that COVID-19 is set to have a lasting impact on the way businesses operate. With the continued surge in online shopping comes a renewed focus on labeling and packaging to accommodate increased packing and shipping as consumers move away from traditional retail and purchasing from brick-and-mortar establishments. This trend was highlighted in Loftware’s survey, with almost half (43%) of respondents expecting their organization to adopt more of an e-commerce business model as a direct result of the pandemic.
In addition, 63% of businesses reported that cost-cutting and operational savings have become more important to their business because of COVID-19. Moreover, the shift to dispersed working isn’t expected to wane anytime soon and could long outlast the pandemic itself. As a result, a growing number of companies are investing in cloud-based technologies that allow employees to work, collaborate, and contribute even when they’re not physically onsite. This was supported by 57% of respondents who said it is important to print labels remotely to enable their business operations.
Roffman said: “Business models are changing. If 2021 was the year the world learned the importance of agile global supply chains, this year will be dominated by the need to adjust to these new realities. Businesses around the world are grappling with labour constraints, port congestions, driver shortages and raw material outages – to name just a few. This is why it’s vital that business leaders think differently about processes, operations, and supply chains to ensure prosperity.”
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Artificial Intelligence in the 4th Industrial Revolution
Artificial intelligence is providing disruptive changes in the 4th industrial revolution (Industry 4.0) by increasing interconnectivity and smart automation.
Industry 4.0 is revolutionizing the way companies manufacture, improve and distribute their products.
What Makes Artificial Intelligence Unique?
Artificial intelligence (AI) makes it possible for machines to learn from experience, adjust to new inputs and perform human-like tasks.
It allows computers to think and behave like humans, but at much faster speeds and with much more processing power than the human brain can produce.
AI offers advantages of new and innovative services, and the potential to improve scale, speed and accuracy.
There are 3 types of artificial intelligence:
Artificial narrow intelligence (ANI), which has a narrow range of abilities.
Artificial general intelligence (AGI), which is on par with human capabilities.
Artificial superintelligence (ASI), which is more capable than a human.
Artificial intelligence can also be classified as weak or strong.
Weak AI refers to systems that are programmed to accomplish a wide range of problems but operate within a predetermined or pre-defined range of functions. Strong AI, on the other hand, refers to machines that exhibit human intelligence.
Artificial intelligence has several subsets:
Most AI examples that you hear about today – from chess-playing computers to self-driving cars – rely heavily on deep learning and natural language processing.
What is the Fourth Industrial Revolution?
The Fourth Industrial Revolution is the current and developing environment in which disruptive technologies and trends such as the Internet of Things (IoT), robotics, virtual reality (VR) and artificial intelligence (AI) are changing the way modern people live and work. The integration of these technologies into manufacturing practices is known as Industry 4.0.
The first industrial revolution used water and steam power to mechanize production.
The second used electric power to create mass production.
The third used electronics and information technology to automate production.
The fourth Industrial revolution is characterized by a fusion of technologies that is blurring the lines between the physical, digital, and biological spheres, with rising emerging technologies, as real AI, Narrow AI/ML/DL, robotics, automation, materials science, energy storage, the Internet of Things, autonomous vehicles, 3-D printing, nanotechnology, biotechnology, neurotechnology, cognitive technology, and quantum computing. It implies radical disruptions to everything, industries, jobs, works, technologies, and old human conditions. In its scale, scope, complexity, and impact, the AI transformation will be unlike anything humankind has experienced before.
The Role of Artificial Intelligence in the 4th Industrial Revolution
Artificial intelligence is making companies make the best use of practical experience, even displacing traditional labor and becoming the productive factor itself.
It offers entirely new paths towards growth for manufacturing, service, and other industries, reshaping the world economy and bringing new opportunities for our societal development.
As AI begins to impact the workforce and automation replaces some existing skills, we’re seeing an increased need for emotional intelligence, creativity, and critical thinking.
Zvika Krieger, co-leader of the World Economic Forum’s Center for the Fourth Industrial Revolution.
Deploying AI requires a kind of reboot in the way companies think about privacy and security, As data becomes the currency of our digital lives, companies must ensure the privacy and security of customer information.
Businesses will need to ensure they have the right mix of skills in their workforce to keep pace with changing technology.
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