Businesses are being impacted by a global skills shortage that is hampering manufacturing output and service delivery. In addition, the costs of producing materials, manufacturing goods, and providing services is rising due to labor costs. For small to medium enterprises, this means margins may be squeezed to the point to where they can no longer compete in today’s hyper-competitive global marketplace. AI, robotics, digital transactions, and related automation provide the means for SMEs to enhance and build capabilities cost-effectively.
Edition and Date
September 18, 2023
Source
Harvard Business Review
Topic
Year
2023
News category