Question: This passage below require analysis and breakdown Technology has come so far, even in just the most recent decade. Technological advances can be hardware systems
Technology has come so far, even in just the most recent decade. Technological advances can be hardware systems or software systems, both having a significant and widespread impact on manufacturing firms in various industries (Jacobs & Chase, 2020). Productivity is one of the most critical pieces when it comes to the success of a manufacturing plant. One very popular technology that has been used for decades is artificial intelligence (AI) and machine learning. AI and machine learning has been helping production teams analyze data and use the insights to replace inventory, reduce production costs, and offer quality control over the entire manufacturing process (5 Modern Technologies Impacting Manufacturers, n.a., 2020). This is beyond just creating robots. AI makes it possible for robots and humans to work together. While there are many pros to utilizing AI like productivity and speed, there are cons that come with it. It can be costly to implement AI, which many businesses, especially start-ups are not budgeted for. Also, you can not replace natural creativity. Robots can perform 100's of tasks, but creativity and innovation can not be developed from AI. This takes an actual human mind.
Another popular technology growing popularity is 3-D printing. We are seeing this in industries such as aerospace, machinery, automobiles, and firearms. This technology allows manufacturers to create physical products from digital designs stored in 3-D computer aided design (5 Modern Technologies Impacting Manufacturers, n.a., 2020). 3-D printers are much more advanced than any traditional manufacturing process, creating intricate shapes and designs. Cons for this type of technology, like AI, also include costs. With such high costs, this could also result in a reduction of manufacturing jobs, having a poor effect on the economy.
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