Pharmaceutical manufacturing to reach US$673.6bn by 2027
Based on comprehensive research of the global pharmaceutical manufacturing industry, the report findings are said to be driven by five key areas:
- Increased drug approval
- Increasing chronic ailments
- A growing geriatric population
- High research and development investments,
- Increasing healthcare expenditure as a result of COVID-19
ResearchAndMarkets.com outlook for the global industry is forecasted with optimistic, balanced and conservative views, taking into account the impact of COVID-19.
In the report, ResearchAndMarkets.com covers competitive scenarios and predicted trends, as well as the profiles of key vendors, leaders and emerging players in the markets, and the potential risks associated with investing in the global pharmaceutical manufacturing industry.
ResearchAndMarkets.com has also generated Critical Success Factors (CSFs) to provide investors & stockholders with guidance when it comes to identifying emerging opportunities, managing and minimising the risks, developing appropriate business models, and making wise strategies and decisions.
Key players in the industry include: Abbott Laboratories, Aenova Group, Amgen, AstraZeneca, Catalent Inc., Eli Lilly and Company, F. Hoffmann-La Roche Ltd., Gilead Sciences, GlaxoSmithKline plc, Johnson & Johnson, Lonza Group, Lupin, Merck & Co. Inc., Novartis AG, Novo Nordisk, Pfizer, Inc., Roche, Sanofi SA, and Takeda.
Fluent.ai x BSH: Voice Automating the Assembly Line
Fluent.ai has deployed its voice recognition solutions in one of BSH’s German factories. BSH leads the market in producing connected appliances—its brands include Bosch, Siemens, Gaggenau, NEFF, and Thermador, and with this new partnership, the company intends to cut transition time in its assembly lines.
According to BSH, voice automation will yield 75-100% efficiency gains—but it’s the collaboration between the two companies that stands out. ‘After considering 11 companies for this partnership, we chose Fluent.ai because of their key competitive differentiators’, explained Ion Hauer, Venture Partner at BSH Startup Kitchen.
What Sets Fluent.ai Apart?
After seven years of research, the company developed a wide range of artificial intelligence (AI) software products to help original equipment manufacturers (OEM) expand their services. Three key aspects stood out to BSH, which operates across the world and in unique factory environments.
- Robust noise controls. The system can operate even in loud conditions.
- Low latency. The AI understands commands quickly and accurately.
- Multilingual support. BSH can expand the automation to any of its 50+ country operations.
How Voice Automation Works
Instead of pressing buttons, BSH factory workers will now be able to speak into a headset fitted with Fluent.ai’s voice recognition technology. After uttering a WakeWord, workers can use a command to start assembly line movement. As the technology is hands-free, workers benefit from less physical strain, which will both reduce employee fatigue and boost line production.
‘Implementing Fluent’s technology has already improved efficiencies within our factory, with initial implementation of the solution cutting down the transition time from four seconds to one and a half”, said Markus Maier, Project Lead at the BSH factory. ‘In the long run, the production time savings will be invaluable’.
Future Global Adoption
In the coming years, BSH and Fluent.ai will continue to push for artificial intelligence on factory lines, pursuing efficiency, ergonomics, and a healthy work environment. ‘We started with Fluent.ai on one factory assembly line, moved to three, and [are now] considering rolling the technology out worldwide’, said Maier.
Said Probal Lala, Fluent.ai’s CEO: ‘We are thrilled to be working with BSH, a company at the forefront of innovation. Seeing your solution out in the real world is incredibly rewarding, and we look forward to continuing and growing our collaboration’.