Cara Haffey, PwC’s UK industrial manufacturing leader, commented: “We’re entering a technology renaissance that has the potential to transform the look, systems and processes of organisations and, as our recent CEO survey showed, UK firms are already responding with much greater awareness of the need for digital and technology innovation.  

“While the UKEO recognises the potential for smart automation to boost productivity, in many cases we’re seeing robots being employed to complement rather than replace workers, with ‘cobotics’ operator and machine teams working together to make complex assembly processes faster, easier and safer.  Augmented reality is being used by some firms to support hands-free training and speed up track inventory or maintenance request responses and, while in its infancy, 3D printing has the potential to enhance product development, prototyping and innovation.

“As well as helping companies meet evolving stakeholder expectations, technological advances can lead to improved communication across the supply chain, better understanding of customer demands and transform how core risks are defined and managed.

“While we may see some workforce pattern changes over the next decade, there is no denying the focus CEOs are currently placing on securing and sustaining a skilled pipeline of operators and technicians to help them make the most of the opportunities that lie ahead.”