GENERAL NEWS
AI and ML are driving sustainable growth
Amid mounting pressure from international organisations and governments to drive sustainable economic growth , global technology intelligence firm ABI Research finds that companies in Southeast Asia ( SEA ) are rising to the challenge . They are embracing Artificial Intelligence ( AI ) and Machine Learning ( ML ) solutions to meet their Environmental , Social and Governance ( ESG ) goals and demonstrate their commitment to a sustainable future , it said .
Many SEA countries ( such as Singapore ; Malaysia ; Thailand ; Vietnam ; the Philippines and Indonesia ) already require qualified companies to disclose ESG . Countries such as Singapore and Malaysia have further outlined clearly defined roadmaps to expand ESG reporting to more companies in the future .
“ Across vertical industries , AI and ML solutions are being adopted to drive sustainable growth , from enhancing
operational efficiency to accountability in tracking carbon emissions . These technologies power innovations such as AI-driven carbon management software and robotic systems . In SEA , the urgency to embrace these solutions is particularly high , as the region is becoming a key target for factory development and is viewed by companies as a major hub for future business expansion . Hence , adopting AIenabled solutions is increasingly recognized as critical to ensuring sustainable growth in this rapidly growing region ,” explained Rachel Kong , Research Analyst , ABI Research .
A recent survey by ABI Research revealed significant interest in AI-based solutions in Malaysia , with over 50 % of respondents from the manufacturing sector deeming AI an essential component when evaluating new solutions . Robotic Process Automation ( RPA ) and Enterprise Resource Planning ( ERP ) software were ranked the top two most important investment areas to support productivity improvements and solution areas in which AI is expected to feature heavily . This trend is expected to be consistent throughout most of the SEA region .
“ With the tightening of local sustainability reporting regulations in the region , we anticipate that more companies will invest in AI and ML technologies to accelerate their sustainable efforts across industries ( such as manufacturing ),” concluded Matthias Foo , Senior Analyst , ABI Research . “ However , it is important to recognize that all enterprises are in different stages of their sustainability journey . Hence , each organisation must carefully evaluate AI-based sustainability solutions to determine its overall impact on business operations .” n
www . abiresearch . com
Latest VDW report on machine tools
According to VDW ( the German machinetool builders ’ association ), orders received by the German machine tool industry in the third quarter of 2024 were 16 per cent down on the same period last year . Orders from Germany fell by 17 per cent whereas those from overseas dropped by 15 per cent . Orders received in the first three quarters of 2024 were 23 per cent down on the same period last year . Domestic orders were ten per cent lower . Overseas orders were 28 per cent below the previous year ’ s figure .
“ The order situation remains challenging ,” outlined Dr . Markus Heering , Executive Director , VDW , commenting on the result . German industry performed comparatively well in the first nine months of the year , supported by several major individual projects . “ In general , however , domestic customers are very unsettled and are unwilling to invest ,” said Heering .
“ This is dragging down the domestic European market , as a whole , as Germany is the most important trading partner for many countries . The other ‘ triad ’ regions have also lost ground . Asia is most badly affected due to the weak demand from China . There is still no improvement in sight here . The smallest decline has been posted in America . The U . S . and Mexico , in particular , have propped up demand ,” added the VDW .
German Machine Tool Industry No clear turnaround in sight in the third quarter 2024
Orders ( index , nominal ) 180
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80
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Dr . Markus Heering .
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“ We have seen little change in the state of the industry since the first half of the year ,” continued Heering . “ The stream of news coming from the automotive industry is giving cause for concern and overall business levels are down across the board , in the markets and in customer industries . Several major projects from the aerospace , medical technology , energy , shipbuilding and defence sectors are helping ,” he added . Outperforming new machine business at present are services , components , repairs , maintenance and conversions . Automation remains a key driver of machine tool investment in the sector .
12 months moving average original values
Order intake
% change to previous year
2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024
Order bookings in the German machine tool industry .
3Q 2024 1-3Q 2024 Total -16 -23 Domestic -17 -10 Foreign -15 -28
Note : Index basis shipments 2021 = 100 , data until September 2024 , Sources : VDMA , VDW
VDW | Order intake 3rd quarter 2024 |
According to association surveys , significantly more machine tool manufacturers are planning to reintroduce short-time working in the near future . Around 35 per cent of respondents were considering this in the second quarter , with the figure rising to 45 per cent in the third quarter . There are also plans to reduce the numbers of temporary workers . At the end of the first half of the year , around 65,250 people were employed .
The production forecast for the year , as a whole , remains unchanged : a decline of eight per cent . n
https :// vdw . de
07 11 2024 | Page 1
8 | ismr . net | ISMR November 2024