Artificial intelligence (AI) has become somewhat of a buzzword, not only in our industry, but industries across the board, as people wonder how the technology with shape the future and the job market. According to Market.us, the global AI in Warehouse Management Market is projected to reach approximately USD 70 billion by 2033, up from USD 2.6 billion in 2023.

Many PHCP-PVF companies are taking advantage of AI already. Some are using AI to answer and record phone calls, respond to text messages, generate marketing material, count inventory and more. While I am excited to see the future of AI and how leaders in our industry take advantage of the benefits, I have to admit the thought of a “robotic” future is a bit scary.

None of us have a crystal ball, so all we can do is stay ahead by educating ourselves on AI as new advancements are made. AI will affect how businesses operate, hire, budget, forecast and more. Similarly, it affects how consumers shop, learn about product and make buying decisions. Forbes recently published some interesting stats on AI to help put things in perspective.

• The AI market is projected to reach $407 billion by 2027;
• Over 75% of consumers are concerned about misinformation from AI;
• ChatGPT had 1 million users within the first five days of being available;
• One in 10 cars will be self-driving by 2030;
• 64% of businesses expect AI to increase productivity;
• Half of U.S. mobile users use voice search every day;
• A quarter of companies are adopting AI because of labor shortages;
• Chinese companies have had the highest adoption rate of AI; and
• The manufacturing sector will experience the greatest financial benefit from AI adoption, with a gain of $3.8 trillion expected by 2035.

While I don’t love the idea of self-driving cars, it is nice to see that the manufacturing sector is expected to make financial gains due to AI adoption. I find it interesting that while consumers are using AI, they are reluctant to trust all of the information AI provides. Enter the trusted knowledge of your team – something that can’t be replaced by technology.

Whether you’re excited or weary of AI – or if you fall somewhere in the middle – it’s past time to incorporate AI planning in your team’s regular meetings. How can you utilize AI to boost productivity? How will you introduce these technologies to your team? How will keep your customer connection alive while utilizing more technology?

If your company is already taking advantage of AI, I would love to hear about it. Reach out to me via email at forstern@bnpmedia.com or on LinkedIn.