When people think of emerging technology such as AI, XR, and more, consumer activities and gaming tend to dominate the conversation. But with ongoing business disruptions, including persistent labor shortages and widening skills gaps, business applications could emerge on top for these technological developments in 2023. In fact, according to Deloitte, the U.S. manufacturing industry alone is expected to have 2.1 million unfilled jobs by 2030. There is a need for digital transformation.
From retailers to manufacturers, businesses are looking to the functionality of generative AI, XR and other enterprise technology to enhance operations, especially regarding training for high-risk, industrial jobs. High impact industries such as manufacturing and construction are just a couple of the real-world environments where employee mistakes can prove fatal.
While traditional classroom settings can bolster learning retention, most acquire 70% of the necessary skills from the type of experiential learning that XR training provides.
Additionally, in an age of social media and the internet, training manuals and long-form video or training sessions are no longer effective. The attention span of the average millennial is 8 seconds, and with millennials anticipated to make up 75% of the workforce by 2025, the need for an upgrade of existing training will never be higher.
In the future, if new hires have access to intuitive and immersive training, not only will the process become more interactive, personalized and therefore more easily applied, but also workplace accidents could be reduced significantly – meaning more lives could be saved.
In this presentation, Jinhwan An, Senior Manager of New Business Development at LG Electronics and Entrepreneur in Residence at LG NOVA, LG Electronics’ North American Innovation Center, will discuss:
• An outlook of the future of training– including AI, XR, and remote learning
• How businesses can leverage smart technologies in workforce training, and the infrastructure needed to support the digital transformation
• Real-life companies and case studies who are developing this technology with large corporate partners