A repeat performance! This organization first invited Jim to address their leadership conference in 2004 and invited him back in to open their 2021 event, 17 years later, with a look back at the trends that matter, and a look forward at the trends that will transform the industry. His keynote was best summarized in an industry publication:
During a presentation at PMMI’s Annual Meeting called “Future Insights Pummeled by the Pandemic,” Jim Carroll, a global futurist and innovation expert, spoke to how digitization will manifest in the coming years.
“As you digitize, the speed of the computer chip now defines the pace of innovation within the industry,” Carroll said. “What happens when an industry becomes a technology industry? What happens when an industry becomes a software industry? The processing power of a computer chip doubles every 18 months while the cost cuts in half and that’s what’s happening with packaging machinery. Your customers are going to demand the latest, greatest capabilities and sophistication.”
The digitization of manufacturing is creating new ways in which equipment is designed, maintained, and operated. It brings manufacturers and the industry one step closer to the Industrial Internet of Things (IoT), which aims to make information and communication between components, equipment, and manufacturers more accessible and seamless.