May 16, 2020

Why the US manufacturing industry is seeing a recession

Manufacturing
Finance
recession
Finance
Admin
2 min
Why the US manufacturing industry is seeing a recession
All industries progress through boom and bust cycles, and the manufacturing industry in the United States is currently shifting downward. According to n...

All industries progress through boom and bust cycles, and the manufacturing industry in the United States is currently shifting downward. According to new regional index reports this week, manufacturing is down across the board in the US—all seven regional manufacturing purchasing manager’s indexes reported contraction. In other words, the industry is in a recession.

As Business Insider reports, this can be attributed to three key factors: a weakened energy sector, a decrease in investments from the mining sector, and a decreased demand from China that has lessened revenue from international trade. This decrease in demand in part has led to manufacturing outpacing sales.

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The report consults with expert analysts who note that this contraction is not a fluke and is likely to continue in the near future:

[Pantheon Macroeconomics’ Ian] Shepherdson thinks these conditions will persist, writing on Thursday that, "No one should be surprised from soft numbers in the industrial economy, regional or national. Just as the downshift in capex in the oil sector began to ease, the strong dollar and the slowdown in China's industrial economy have bitten, hard, and likely will inflict more pain over the next few months."

 

RELATED CONTENT: The Reshoring Initiative and Walmart launch effort to help suppliers reshore

But due to the industry’s cyclical nature, while the recession may be drawn out it will not last forever. Renaissance Macro analyst Neil Dutta told Business Insider that the industry will strengthen once again with time and with the upswing of trade:

"Trade is an important driver of manufacturing activity since trade is dominated by manufactured goods. Part of the weakness in trade is cyclical, given the slump in the global economy. Monetary policy has eased globally in response to soft growth and with a lag, this should boost activity."

 

[SOURCE: Business Insider]

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Jun 16, 2021

Fluent.ai x BSH: Voice Automating the Assembly Line

Fluentai
BSH
AI
Technology
2 min
Fluent.ai and BSH announce plans to bring speech-to-intent AI to the assembly line that will increase factory efficiency and improve worker ergonomics

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’. 

 

 

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