Talking Trade Ep. 88 - James Iversen, ABI Research

Talking Trade

The latest episode of “Talking Trade” features insights from ABI Research Industry Analyst James Iversen, who discusses a recent survey of U.S. and German manufacturers.

“German and U.S. manufacturers, they have a very similar investment priority when it comes to deployment of new technology … They kind of hope to achieve the same if not very similar goals when they do end up deploying these new technologies,” he said.

The survey found the top issue faced by both German and U.S. manufacturers is minimizing product defects, Iverson said, while American businesses are putting a greater emphasis on network security issues than German companies.

“They’re still looking predominantly at eliminating data silos, minimizing the cost of utilizing big data centers to store all your data and your pipelines,” he said. “So that would be kind of the biggest difference.”

Iverson also said German companies have more established sustainability frameworks, while the U.S. is less rigid and structured.

“When you talk about core issues of sustainability and environment, for German manufactures, they have -- I don’t want to say solved the issue, because I think this issue has a long way to go -- but generally speaking, German manufacturers are ahead of the curve on this,” he said.

The discussion also highlights the “shrinking workforce” for the industry, as skilled workers leaving the industry aren’t being replaced adequately with proficient workers. While Iverson points to AI as one solution to this problem, noting its role in training new hires, he acknowledged it’s not bulletproof.

“I don’t think it’s going to be the complete solution,” he said. “I think this is more of a Band-Aid until we find the correct long-term solution.”

Talking Trade is hosted by E.M Wasylik Associates Managing Director Ken Wasylik and M.E. Dey & Co. President and Managing Director Sandi Siegel.