Key Trends and Innovations in the Top U.S Industries

Table of Contents

Trends in Aerospace and Buildings and Cities Industries

Some major trends in the aerospace industry include low-risk digital innovations and focusing on fuel-efficiency by leaning towards more-electric aircraft technology. For buildings and cities industry, some major trends include smart connected buildings in smart cities and intelligent automation that goes with sustainability. These are discussed below.

Trends in the Aerospace Industry

Low-Risk Digital Innovation

When it comes to innovation, the aerospace industry spends only 4.1% of its sales, one of the lowest among other industries.
However, the majority of the investments are being focused on low-risk technologies that have high impact, such as sensory technologies, augmented and virtual reality (AR/VR), artificial intelligence (AI), data analytics, and robotics or autonomous systems.
Among these, data analytics is most likely to emerge as the “most important digital solution” because the cost for implementation is relatively low, yet the amount of data that the industry can create could be overwhelming.
Through this innovation strategy, a large return on investment has been seen in terms of reduced long-term cost. Some of which are having cost-efficiency in repair, maintenance, and labor.
In the Accenture Technology Vision 2020, a notable percentage of aerospace executives express these beliefs:
- 72% agrees that they need to reengineer experiences by bringing “technology and people together in a more human-centric way”
- 30% has adopted AI across different business units
- 71% believes that robotics will be of great help for enabling the next generation of services
- 82% expects that connected products and services will be significantly updated in the next 3 years

Fuel Efficiency Through More-Electric Aircraft (MEA)

Fuel has been one of the things that can be costly when it comes to operations maintenance, as airlines spend 25%-50% of their costs on fuel.
Because of this, firms have been moving towards focusing on more fuel-efficient aircraft through More-Electric Aircraft or MEA.
This technology is being integrated with current aircraft fleets, like the deployment of EHAs or electro-hydrostatic actuators.
Shifting to MEA can reduce operating costs and fuel burn, as well as environmental impact.
The hydraulic and pneumatic systems are being replaced with electric solutions to enhance reliability and reduce weight.
The adoption of MEA has been fueled by advancements in power electronics, electro-hydrostatic actuators, fault-tolerant architecture, high-density electric motors, flight control systems, and power generation and conversion systems.
Overall, this electrification strategy can significantly unlock improvements in aircraft weight reduction, control on life-cycle cost, fuel consumption efficiency, reliability, and better maintainability.

Trends in the Buildings and Cities Industry

Smart Connected Buildings in Smart Cities

To enable every aspect of smart buildings, one of the vital pre-requisites is universal connectivity.
A connected building solution is a network of systems that are automated to control different functions.
This could include predictive maintenance, intelligent parking, structured cabling, wireless connectivity, smart service, thermal sensing cameras, smart lighting, wayfinding, utilization sensors, and security and access control.
In an IDC survey, it was stated that building management companies are currently investing in connected buildings technologies. Nearly 30% have deployed connected building solutions while 60% are considering its deployment.
They specifically designate safety and security as their top priority in implementing connected building technologies. The list of motivations include:
- security improvement
- maintenance and operations cost reduction
- faster response time to any building system issues
- improvement of efficiency and business productivity
- increased safety

Intelligent Automation That Goes With Sustainability

According to the Revision of World Urbanization Prospects report, 55% of the world’s population is living in urban areas and it is expected to reach 68% by 2050.
While cities occupy only 3% of the Earth’s land area, cities can consume 60%-80% of the global energy while producing 75% of the total carbon emission.
This is why projects for smart buildings are now focusing on intelligent automation while building sustainable urban facilities.
One example is Italy’s Milan Innovation District’s masterplan in the development of universities, hospitals, and research centers to build facilities that can automatically adjust to certain conditions and use resources more efficiently.
Another one is France’ Autonomous Building for Citizens demonstrator program that designs water and energy self-sufficient residential complex to make it more comfortable to live in. This is done by producing energy through solar panels, using rainwater, recycling wastewater, and optimizing waste management.
One of the key benefits of digitizing buildings is sustainability, and a sustainable environment can save a considerable amount of energy and other resources for future generations.

Innovations in Aerospace and Buildings and Cities Industries

Some aerospace and building industry innovations include additive manufacturing, space propulsion technologies, and artificial intelligence.

Innovations in the Aerospace Industry

According to Market Watch, additive manufacturing is one of the top innovations in the aerospace industry. Additive manufacturing, commonly known as 3D printing, is a technique that involves stacking elements one by one to produce a real (or three-dimensional) item based on a computer model. The peculiarity of this process includes cost-effectiveness and time reduction in the manufacturing process; this allows astronauts to “produce different parts without relying on risky and lengthy material deliveries from Earth.”

The National Aeronautics and Space Administration (NASA) has developed advanced space propulsion technologies to enable faster space travel, radiation reduction, and fuel consumption. Industry Wired’s publication suggests that NASA, in collaboration with the Department of Energy and Oak Ridge National Laboratory, has developed a plasma-based propulsion technology called the “Variable Specific Impulse Magnetoplasma Rocket (VASIMIR rocket).” Other propulsion technologies being investigated by NASA include electric propulsion; however, the VASIMIR rocket is unique because it reduces aircraft radiation by utilizing hydrogen fuel.
Industry Wired also reports that zero-fuel aircraft’s advancement has been utilized across different industries, including agriculture, aerial photography, and mapping. Experts believe that “zero-fuel aircraft use photo-voltaic panels to utilize solar energy to provide the engines’ necessary thrust.” A prototype from the Solar Impulse Foundation suggests that the solar-powered aircraft has “nano-carbon fiber-reinforced structural components to reduce the body’s overall weight.”
NASA’s deep space atomic clock began ticking in August 2019. The clock is powered by mercury molecules emitting steady and precise light frequencies. Precision and accuracy are its primary concerns, with a loss of just one second per ten million years. Additionally, Popsci reports that the 37-pound device is “50 times more stable than any atomic clock; this is used for studying the cosmos and space travel.”
According to Aerospace Technology Review, Bell has delivered the first Bell 505 NXi approved by the European Union Aviation Safety Agency (EASA) to a business client in Europe. The Bell 505 NXi is equipped with the latest Garmin avionics and a FADEC-controlled dual-channel engine. Its numerous features include dual-core processors, reducing boot time by over 50%, LED-backlit for improved displays, and VFR/IFR charts. The Bell 505 NXi is probably the most technologically sophisticated short light single aircraft available.

Innovations in the Buildings and Cities Industry

Building Information Modeling (BIM) is an example of innovation in the building industry. The model utilizes “the application of IoT and AR technologies to generate smart management and workflow planning tools.” Furthermore, reports from Bigrentz and Plan Radar indicate that the UK and the US have regulations that enforce the use of BIM software on any building or infrastructure. Some features include enhanced communications and a reduction in misunderstandings.
The smart infrastructure uses structural monitoring systems to evaluate the strength and weakness of any building or structure invisible to the human eye. These infrastructural systems leverage sensors to predict/detect and inform the site owner averting destruction and loss of life. Bigrentz reports that Hexagon Geosystems develop some smart infrastructure to assess sites’ structural integrity before building/construction.
The building and city industry’s technological advancements are largely impacted by Virtual Reality (VR) and Augmented Reality (AR). Interesting Engineering, Construction blog, and Bigrentz have all discussed the use of AR and VR in “improving building designs through interactive design and gesture interfacing.” Additionally, contractors utilize these technologies to view building plans and make necessary changes without physically entering the building.
Artificial intelligence (AI) technology has been recorded to enhance different aspects of the building process, including safety, project management, and resource management. Plan Radar also reports that the technology is leveraged in spotting bottlenecks and workers without helmets.
Finally, wearable technologies such as wearable AR and 3D printing have been proven to be innovative advancements in the building industry. With the aid of 3D printing, the printing of prefabricated sections and entire buildings are possible. Furthermore, wearable technology “gives workers hands-free access to building plans, generates structural models from surrounding site scans, makes distance measurements independently, and allows workers and designers to make modifications while on-site” (Plan Radar, Big Rentz).

Trends in Chemicals and Materials and Healthcare and Pharma Industries

The major factors influencing the chemicals and materials industry include the change in consumer trends, rise in the cost of resources, growth in emerging markets, and government regulations. On the other hand, artificial intelligence (AI) has the capacity to significantly influence the ideation process of creating new products in the healthcare and pharmaceutical industry, including the acceleration of research and development.

Chemicals and Materials Industry: Sustainability

Based on research conducted by various companies, including Deloitte & Touche, Lux Research, and McKinsey, one major trend in the chemicals and materials industry includes the rise of sustainability initiatives among industry players. Consumers are showing increased preference for chemicals and materials on the basis of their circularity and carbon footprint.
According to Deloitte and Touche, the growing awareness of sustainability among consumers has driven the chemicals and materials industry to explore sustainable production solutions, such as decarbonization technologies and the diversification away from hydrocarbons.
According to Anthony Schiavo, a senior analyst at Lux Research, the chemical industry’s future businesses will appear quite different from those of today. Businesses that do not adapt and invest in sustainability and digital transformation will perish in the transition.
Additionally, according to a report by Lux Research, government regulations, investor pressure, and simple physical limitations are forcing players in the industry to focus on sustainability around areas such as CO2 emissions, plastic waste, pollution, and impacts from the use of water and natural resources.
Spectalite, and Indian startup, and eCO2Blocks, a Portuguese startup, are examples of companies in this landscape that have implemented sustainable solutions around biocompund and construction materials, respectively.

Healthcare and Pharma Industry: The Use of Artificial Intelligence

One major trend/development in the healthcare and pharma industry is the use of artificial intelligence. According to Boston Consulting Group, artificial intelligence (AI) has the capacity to significantly influence the ideation process of creating new products in the healthcare and pharmaceutical industry, including the acceleration of research and development.
The likely reason for this is the fact that the healthcare and pharma is notable for traditionally relying on a lengthy trial-and-error processes when developing new products, such as drugs.
On the same note, companies are leveraging AI to manage their overhead costs, run trials, design drugs, as well as cut down on the amount of time taken to develop drugs and avail them to the market.
Some additional key drivers behind the adoption of AI in healthcare overall include the “explosion in available health data,” such as electronic medical records, genomic analyses, and data from wearables and other monitoring devices as well the advancements in digital software and hardware, which have disrupted how the data is consumed.
Examples of healthcare and pharmaceutical companies at the forefront of this trend include Pathway Genomics Corporation, AiCure, APIXIO, Inc, Butterfly Network Inc, IBM (Watson Health), and Lifegraph, which are exploring various applications of AI in the pharmaceutical sector.
Other examples include Pangaea Data, a British-based startup, and InVivo AI, a Canadian startup, which have leveraged AI for patient cohort identification and drug discovery, respectively.

Innovations in Chemicals and Materials and Healthcare and Pharma Industries

Some examples of innovative technologies in the chemicals and materials industry include the latest developments in plastic waste recycling, materials informatics, digital sales platforms, 3D printing, and the use of synthetic biology. Meanwhile, some of the innovations in the healthcare and pharmaceutical industry include more advanced drones for critical medical samples delivery, stem-cell cure for diabetes, an innovative cancer research approach, a mind-reading wrist band, a pocket ultrasound device, and an AI that can effectively detect cancer symptoms at early stages. The details of these innovative technologies were presented in the section below.

Chemicals and Materials Industry Innovations

Advanced Plastic Waste Recycling Technology

The mounting problems caused by plastic wastes are putting billions of dollars at risk.
Advanced recycling technology can address this problem and can open windows of opportunities for higher-value items to be produced.
As an example, the Brightmark Energy technology can convert various types of plastics into hydrocarbon products.

Materials Informatics

Machine learning techniques are now being applied to develop new materials. This allows businesses to reduce their R&D expenditures and improve the efficiency of their operations. Using ML techniques can also help in building new business models and in making their operations more agile.
Materials informatics technology also involves making use of data infrastructures coupled with machine learning to advance the material development process.
Already, material informatics is being used to create organic electronics, battery compositions, additive manufacturing alloys, polyurethane formulations, and nanomaterials.

Digital Sales Platforms

Platforms for digital sales as the sector accelerates toward digitalization, e-commerce and sales automation technology will become increasingly prevalent. Services that focus on customization and product applications will also be offered more.
As more B2B companies buy their products from e-commerce platforms, companies in the chemical industry are now in a race to digitize their sales and marketing processes.
Around 85% of B2B purchasers are now opting to buy their usual orders from e-commerce platforms instead of placing their orders through phone or email.
More digital platforms are now being developed in the industry. These e-commerce stores offer chemicals, plastics, and synthetics to these customer segments: “manufacturer to manufacturer (B2B) and manufacturer to consumer (B2C).”

3D Printing

The 3D printing technology is expected to be applied more in the chemicals and materials industry as companies discover more unique scaling opportunities. However, these companies need to be ready to go down the value chain to earn their share of the earnings.
As the price of 3D printers continues to go down, more companies in the industry are applying this technology for R&D, operations, and processes.
Current 3D printers can also handle a wider variety of materials, have faster printing operations, and are capable of creating more intricate shapes.

Use of Synthetic Biology

Synbio can help the chemicals and materials industry to be more sustainable.
Additionally, the production process may be made more adaptable.
The technology is also expected to uncover more new markets and reduce cost.
Synbio is considered a disruptive technology that can drive the bioeconomy landscape. Experts are still working on fully unleashing the potential of this technology.

Healthcare and Pharmaceutical Industries Innovations

Drones for Medical Supplies Delivery

Drones will be used more to deliver medical supplies.
UPS has launched its Flight Forward test initiative to test the capability of autonomous drones to deliver crucial medical samples such as blood or tissue between designated medical facilities.
So far, the FAA has given UPS the green light to include 20 more medical facilities across the U.S. in the next two years.

Stem-Cell Cure for Diabetes

The pioneering work of developing a cure for diabetes using stem cells was started a decade ago by Harvard biologist Doug Melton amidst controversies . The stem cells are expected to generate replacement beta cells that can manufacture insulin.
The idea gained further traction when large pharmaceutical firms took notice and bought Mr. Melton’s business.
The breakthrough includes the development of a small implanted device containing millions of replacement beta cells. The system can let glucose and insulin to pass through but it will prevent immune cells from getting out.

Innovative Cancer Research Approach

The Parker Institute for Cancer Immunotherapy aims to uncover and eliminate innovation barriers to innovation in typical research work.
The institution was established by Sean Parker, co-founder of Napster and former president of Facebook. The institution is comprised of renowned cancer organizations, including Memorial Sloan Kettering, Stanford University, and MD Anderson Cancer Center.
As an example of their innovative endeavor, the member institutes have agreed to green light approval motions by any of their corresponding Institutional Review Boards. This change in the decision-making process is expected to significantly shorten the time it will take to start major clinical trials at lower costs.

Mind-reading Wrist Band

The CTRL-kit mind-reading wristband was developed to help those with mobility issues such as stroke patients, those with Parkinson’s disease, multiple sclerosis, and other neurodegenerative ailments.
Once worn, the wristband can detect the electrical impulses that are transmitted from the motor neurons in the brain to the arm muscles and on to the hand. This transmission will happen instantly once the person thinks about a specific movement.

Pocket Ultrasound

Butterfly iQ is a handheld ultrasound gadget that can help those with no access to medical imaging equipment.
Jonathan Rothberg, a geneticist at Yale, has developed a method for integrating ultrasonic technology onto a chip. The $2,000 portable device can be connected to an iPhone app.

Detecting Cancer Using Artificial Intelligence

Some cancers such as lung cancer are hard to detect during the early stages due to the lack of symptoms. The symptoms typically manifest only during the late stages when the cancer is already hard to treat.
Shravya Shetty, the research head of a Google Health team mentioned that they have developed an AI system that is superior to human radiologists in detecting lung cancer.
Google AI was able to detect 5% more cancer cases and had 11% fewer false positives than a control group of six human radiologists, according to a study of 45,000 patient CT images.
More tests are still being done to ensure that the technology can be further used in actual situations.

Trends in Industrial and Manufacturing and Retail Industries

Two different major trends/developments within the industrial and manufacturing industry are the expanded use of predictive maintenance to predict and schedule machine repairs and the implementation of digital twins for real-time visibility.

Trends/Developments in the Industrial & Manufacturing Industry

Use of Predictive Maintenance to Schedule Repairs

One trend or development in the industrial and manufacturing industry that is helping to solve or improve the industry is the advancement and usage of predictive maintenance. Artificial intelligence and machine learning algorithms implemented in predictive maintenance tools are helping the industry to precisely determine when maintenance on a machine is necessary.
Predictive maintenance software facilitates the storage and analyzation of vital outputs on a manufacturer’s machinery, which they can use in order to upgrade maintenance practices.
Manufacturing companies are utilizing AI technology to predict possible accidents and downtime by evaluating sensor data. Furthermore, AI systems are assisting them with predicting when functional equipment may break down, enabling the scheduling of maintenance and repair before said equipment fails. This technology allows manufacturing companies to enhance efficiency and decrease expenses associated with machine failure.
As reported by PwC, predictive maintenance usage in manufacturing could increase uptime by 9%, decrease costs by 12%, diminish health, quality, environmental, and safety risks by 14%, and expand the lifetime of a company’s aging assets by about 20%.
According to a study conducted by the Capgemini Research Institute, 29% of AI use cases in the manufacturing industry are now for maintenance, making it the most popular implementation of AI in the sector.
For instance, General Motors evaluates images from cameras positioned on assembly robots in order to identify indications of faltering robotic components. During the pilot test for its system, it encountered 72 occurrences of component failure from 7,000 different robots, helping the company to find the issue before any unplanned outages.

Using Digital Twins for Real-Time Visibility

Another trend or development in the industrial and manufacturing industry that is helping to solve or improve the industry is the application of digital twins, which acts as a “virtual representation of a real-world” asset or product. With the use of digital twins, manufacturers throughout the world are able to improve their comprehension of their products and enable them “to experiment in future actions that may enhance asset performance.”
Within the manufacturing industry, there are four primary applications of digital twins, namely for product development, design customization, shop floor performance improvement, and logistics optimization. Digital twins can assist the industrial and manufacturing industry with mitigating the risk of failure, improving flexibility, and extending capabilities.
According to a report published by Markets and Markets, the worldwide digital twin market is expected to reach a value of about $48.2 billion by the year 2026. The report from Markets and Markets also states that because of the ongoing COVID-19 pandemic, digital twins are being used by the manufacturing industry to manage many concerns, as manufacturers need to maintain real-time visibility on the supply and demand chain and corporate boundaries.
Digital twins can be utilized by the industry to develop twins of assemblies, components, workers, and plants. This could be consolidated in numerous ways to craft solutions with many sources of data.

Trends/Developments in the Retail Industry

Social Commerce

A growing trend or development in the global retail industry that is helping it to solve or improve the industry is the use of social commerce, which has been identified as an indisputable breakout trend for this year. Social commerce occurs within social media platforms. Due to a remarkable performance in 2020, it has the potential to expand quicker than overall ecommerce.
Social commerce allows brands to craft collections of featured items and market them through storefronts (“Shops”) on social media platforms, particularly Facebook and Instagram, enabling them to reach a broad global audience. This development offers the opportunity for retailers to bolster purchasing intent and take advantage of the frictionless payment process.
Through “Shops“, Facebook caters directly to retailers and brands, helping to establish a personalized shopping experience. Ultimately, users of Instagram and Facebook will be able to conduct their shopping completely through the social media platforms, diminishing requirements for direct website traffic. Social commerce will become similar to companies marketing their items on Amazon via reaching a noticeable user base and making it simpler for users to follow through on a purchase.
According to Technavio, the worldwide social commerce industry will reach about $2.051 billion in value by 2024, expanding at a compound annual growth rate (CAGR) of 31% between 2020 and 2024.

Innovations in Industrial and Manufacturing and Retail Industries

Artificial Intelligence, advanced robotics, additive manufacturing, digital twin technology, edge, fog, & cloud computing, and network & connectivity are some examples of innovations or advanced technologies in the global industrial and manufacturing industry. Similarly, IoT technology, autonomous delivery robots & store assistants, cashierless stores, voice commerce, and augmented shopping are some innovations and technologies transforming the global retail industry. We have included a short summary of each of these advances below, along with appropriate illustrations.

Innovations/Advanced Technologies in Global Industrial & Manufacturing Industry

Artificial Intelligence

AI and machine learning are a key driving force behind innovations across global industries and functional areas.
New AI-specific hardware and algorithms are being created to improve current systems and address new problems confronting the industrial & manufacturing sector. Factories are integrating AI into their manufacturing systems and processes.
Predictive maintenance, cognitive computing, swarm intelligence, context-aware computing, smart machines, hardware accelerators, and generative design are all enabled by advanced AI.
Mechanica AI is a Dutch company that provides industrial-grade artificial intelligence. Manufacturers may get value from little or poor datasets using the technology. Oqton, a company located in the United States, creates FactoryOS, an artificial intelligence-powered platform for integrating manufacturing system data in order to optimize factory production and output. It combines and utilizes data from all facets of the industrial ecosystem, including design, manufacturing, and supply chain management.
As per a study by Research & Markets, among transformative technologies, IoT is being used by 68% of the industrial companies, followed by AI (63%) and blockchain (51%). About 9% of the companies are not using any of these solutions.

Advanced Robotics

The use of sophisticated robotics in production improves accuracy and agility while enabling the fast development of customized robots. Robots are very beneficial in freeing up time for humans to concentrate on non-routine or high-value activities.
Autonomous robots, collaborative robots (cobots), collaborative autonomous mobile robots, humanoid, mobile robots, cloud robotics, APIs, pick and place robots, and robot swarms are the most significant robotic technologies affecting production. Giga Automata, a Bulgarian company, has developed a cobot named Animoto as an example of sophisticated robotics in use today. Because cobots are intended to operate alongside humans, they improve the efficiency of human-performed activities.
Additionally, Sesto Robotics, headquartered in Singapore, provides the SESTO Element, a multi-purpose autonomous mobile robot. Autonomous robots are critical for industrial automation facilities because they free up human labor for higher-level activities such as factory management.

Digital Twin

A digital twin is an industrial production technique that combines dynamic real-time sensing and visualization data to generate virtual representations of industrial assets. Model-driven design, virtual prototyping, virtual system validation, throughput optimization, and evolutionary design are just a few of the potential applications of digital twins. Digital twins provide light on every stage of the production process.
Gemius, located in the United States, and Simularge, based in Turkey, are two examples of businesses creating digital twin solutions for a variety of industrial processes. Gemius’ solution enables manufacturing facilities to standardize meticulous operation and maintenance practices in order to maximize output, while Simularge’s algorithms enable rapid creation of digital twins and adaptation by identifying and monitoring changes in the raw materials used in the manufacturing process.

Edge, Fog, & Cloud Computing

The utilization of edge, fog, and cloud computing capabilities is a critical component of Industry 4.0. Due to the massive quantity of data produced by the industrial internet of things (IIoT), these technologies are increasingly being used in industrial and manufacturing processes. Custom hardware and software solutions such as linked clouds, distributed clouds, distributed compute and storage, hybrid cloud computing, low-code development platforms, microservices, mobile computing, and multi-access edge computing are defining this industry 4.0 trend.
Atrio, a firm headquartered in the United States, provides the Atrio Hybrid Composable Cloud, a software-defined single computing platform. Cloud computing capabilities reduce production cycle times by giving real-time visibility into all manufacturing processes.
The Atrio platform enables the creation, management, and operation of hybrid and multi-cloud environments via the use of a single cloud-agnostic computing network that combines common infrastructure and cloud services.

Additive Manufacturing

Additive Manufacturing (AM), commonly known as 3D printing, creates components by adding single layers of material and fusing them together from a CAD-generated 3D model. It is a paradigm-shifting method to manufacturing that allows the development of lighter, stronger components and systems. Cloud-based production that is extremely flexible and sustainable is becoming a reality thanks to additive manufacturing.
AMBOTS, a company located in the United States, has created an autonomous additive manufacturing system using swarm robots. The method breaks down digital designs into smaller jobs that can be completed by various kinds of robots. AMBOTS use a patented chunk-based 3D printing technique.
Exaddon, a Swiss business, is another example of a firm that provides a micrometer-scale metal additive manufacturing technology, CERES. CERES achieves micromanufacturing via electrochemical technology, which allows the process to take place at ambient temperature and eliminates the need for post-processing. The technology generates complex metal objects with dimensions ranging from 1 to 1000 micrometers.

Network & Connectivity

Network and connection are critical enablers of Industry 4.0. Numerous advanced technology advancements, including edge-to-cloud, gigabit ethernet time-sensitive networks, low-power wide-area networks (LPWAN), 5G, machine-to-machine communication (M2M), real-time deterministic ethernet, time-sensitive networking (TSN), ubiquitous radio access, unified IoT framework, and zero-touch networks, are transforming the global industrial and manufacturing industries. These technologies contribute to the continuous improvement of machine-to-machine and human-to-human communication, as well as data transfer.
Coretigo, an Israeli company, offers a wireless Internet of Things communication service based on the IO-Link Wireless protocol. The IO-Link Wireless’s architecture enables it to manage a large number of devices with minimal latency and excellent dependability. Coretigo facilitates communication between sensors, actuators, and controllers through wireless technology.

Innovations in Global Retail Industry

Internet of Things (IoT)

IoT technology has the potential to completely transform the global retail sector, and merchants worldwide are aggressively using it to provide more engaging and creative shopping experiences for their consumers. Grandview Research estimates that the Internet of Things-enabled retail industry will reach $94 billion by 2025 as more shops use this technology.
One of the main uses of IoT technology in the retail sector is beacons, which are tiny Bluetooth Low Energy (BLE)-enabled wireless devices that broadcast a continuous signal. Smartphones can detect the signal and transmit it to a cloud server. After that, the cloud server may send tailored material to a certain smartphone. Retailers are using this technology to achieve more precise segmentation and customization of their customers. For instance, Macy’s, a store headquartered in the United States, utilizes these beacons to deliver customized offers and product reminders to its consumers.
RFID tags are another critical use of Internet of Things technology. These intelligent barcodes provide merchants complete insight into their goods throughout the buying process. Lululemon, a provider of athletic clothing, is an example of a retailer that actively utilizes RFID tags to update and monitor inventory levels in shops worldwide. This has aided the store in achieving a 98 percent inventory accuracy rate.

Autonomous Delivery Robots and Store Assistants

Retailers benefit from robotic shop assistants because they help them save costs and simplify processes, especially in the supply chain. ABI Research predicts that over 150,000 mobile robots will be used in brick-and-mortar retail businesses by 2025.
The newest versions of robots employed in the retail sector have machine vision algorithms that are capable of capturing and analyzing pictures and video and responding appropriately. Robots can now evaluate and interpret dirty areas and clean them autonomously, recognize and welcome customers as they enter the shop, and take pictures of fresh boxes, evaluating the contents and relocating them to the appropriate shelves. For example, at Walmart, scanning robots can identify areas where goods are out-of-stock, relay pictures to employees using handheld devices, and also communicate with the rapid unloader robots that prioritize which items are unloaded from trucks.
Amazon employs over 100,000 robots to transport inventory between warehouses and categorize goods for order fulfillment, which results in a 20% reduction in operational expenses. Additionally, the firm is conducting drone trials in preparation for the debut of Amazon Prime Air, a service that claims to expedite the delivery of goods weighing less than 5 pounds from order to delivery in 30 minutes or less. Additionally, Alibaba unveiled the G Plus, a last-mile delivery robot that will be used to transport packages, groceries, and meals inside residential zones.

Cashier less stores

Cashierless shops are a new disruptive idea in the retail sector that is rapidly gaining popularity. According to a Businesswire poll, 87 percent of consumers would prefer shops that provide contactless or self-checkout alternatives. The idea of consumers walking out of a shop with their purchases automatically scanned and the amount deducted from their account is rapidly gaining traction.
The technology may be enhanced to enable consumers to scan barcodes and QR codes on their cellphones not only to pay for goods but also to get information about those products. This will aid shops in reducing direct product handling costs and will also assist them in addressing consumer concerns about sustainability and accountability by being more open about manufacturing processes.
Amazon was the first business to use this idea in its Amazon Go shops through the Just Walk Out method. Now, retailers like as Walmart, Sam’s Club, Kroger, and 7-Eleven are experimenting with an Amazon Cashierless shop experience.

Voice Commerce

Voice commerce is a feature of portable devices that allows customers to make purchases using voice commands. It is another fast-growing advanced technology in the global retail industry. As per Statista, the number of digital voice assistants in use worldwide is estimated to reach 8 billion by 2023. Additionally, voice commerce sales are estimated to reach $40 billion in the US and $5 billion in the UK by 2022, from merely $0.2 billion and $5 billion in 2017 in the two countries, respectively.
The pandemic of COVID-19 has aided in the development of voice commerce. According to the Smart Audio Report, 52% of voice-assistant users now utilize speech technology many times a day or almost daily, up from 46% prior to the epidemic. They make extensive use of the same for product research, pricing comparison, and purchasing.
Walmart is one business that has taken advantage of this trend by launching the Walmart Voice Ordering service. Customers may add items to their Walmart carts using any device supported by Google Assistant or Siri. Additionally, 7-Eleven Inc. has introduced a voice ordering feature inside its 7NOW Delivery app, which enables consumers to add items to their basket using voice commands and have them delivered within 30 minutes.

Augmented Shopping

Customers may connect with brands and goods via augmented shopping experiences that allow them to virtually try on, test out, interact with, and customize their purchase. It is widely seen as the retail industry’s future, and merchants are developing novel methods to offer customers with an augmented reality shopping experience. The augmented and virtual reality (AR/VR) technologies are often seen as the future of the physical shopping experience.
According to Bizreport, almost two-thirds (61%) of US consumers polled said that augmented reality had impacted their shopping habits and locations. According to Forbes, about 75% of customers expect businesses to provide an augmented reality experience. Gartner projected that over 100 million customers will buy in augmented reality online and in-store by 2020.
By using augmented reality technology, merchants and brands are able to provide a more engaging and enjoyable shopping experience for their consumers. Numerous companies, like Lacoste, Tesco, Converse, Zara, IKEA, and MTV, are using augmented reality to integrate intelligent interactive information into their goods and immerse customers in a world where real and virtual blend. Ikea, for example, developed the Ikea’s Place app, which enables shoppers to access 3,200 items from Ikea’s inventory via a live view function on their smartphone and to use augmented reality (AR) functionality to visualize how specific items would look in their home, virtually positioning them within rooms. Additionally, Toyota released the Hybrid AR app in 2019 to assist customers in comprehending their new C-HR model and interacting with important features.

Trends in Safety and Supply Chain Industries

Some major trends in safety are the use of AI & ML for PPE detection and ergonomic risk and fatigue management. IoT is being increasingly adopted in supply chains and is a crucial part of digitization in the industry.

PPE Detection

A significant percentage of nonfatal and fatal worker injuries may be avoided with appropriate PPE usage. According to the United States Bureau of Labor Statistics, 16% of workers who sustained head injuries wore hard hats; 1% of workers who sustained face injuries wore face shields; 40% of workers who sustained eye injuries wore goggles; and only 23% of workers who sustained foot injuries wore safety shoes or boots. 30% of employees in the United States are estimated to not always use personal protective equipment.
Employers are responsible for providing and using personal protective equipment (PPE) on the job. AI and computer vision systems can monitor compliance and ensure that the appropriate personal protective equipment is utilized to safeguard the user from health or safety hazards on the job. Safety helmets, gloves, eye protection, high-visibility apparel, safety footwear, and safety harnesses are all included in this category. The same technologies may also be used to monitor the use of respiratory protection equipment, such as masks.
AI-driven monitoring of employees for proper PPE use has the potential to avoid or mitigate up to 40% of manufacturing accidents by detecting and notifying safety managers to workers who do not follow safety procedures in real time.
Artificial intelligence-powered worker safety monitoring systems use computer vision and image and video analysis to identify PPE noncompliance in real time. The systems scan video footage, identify employees, and ensure that safety rules are followed. On-site safety supervisors are informed if any piece of equipment is missing, in order to ensure compliance with safety regulations.
Additionally, AI systems may be trained to switch off machinery that is potentially hazardous to employees who are not wearing personal protective equipment (PPE) as they approach the workplace. Alternatively, employees’ PPE compliance may be verified at entry points to prevent workers without PPE from entering dangerous locations.
According to the Verdantix Global Corporate Survey 2020: EHS Budgets, Priorities, and Technology Preferences, 44% of global EHS executives say digitization is a top priority for their companies, while another 36% say COVID-19 has boosted digitization efforts.
To mitigate the danger of cluster COVID-19 outbreaks, many management teams have developed health and safety standards, such as obligatory PPE use and social distancing procedures. By enforcing guidelines regarding the use of personal protective equipment (PPE), ensuring social distancing, and utilizing thermal imaging capabilities, AI has the potential to reduce transmission, ensure the health and safety of staff members, and detect—and contain—cluster outbreaks before they begin, which is especially important given that experts believe global viral outbreaks will become more common in the future.

Ergonomic Risk and Fatigue Management

According to the Bureau of Labor Statistics, US businesses lost over $1 billion each week in 2019 as a result of workplace injuries. Overexertion was the leading cause of injury, which included injuries sustained when lifting, pushing, pulling, holding, carrying, or throwing.
Numerous health and safety agencies, such as the National Institute of Occupational Safety and Health, have developed regulations and standards defining what ‘average’ people can tolerate in terms of the frequency and length of labor-intensive tasks. These criteria, however, attract criticism since they are based on statistical averages and anthropometric data, which cannot account for the enormous demographic diversity seen in contemporary society.
Taking the above into account, machine learning algorithms may be used to customize a worker’s safety by analyzing movement data acquired through a device or sensor and calculating his or her ergonomic risk. Utilizing large amounts of customized data to detect and suggest changes in a worker’s behavior may also assist in more personalized training.
Continuous data gathering through machine learning enables AI algorithms to calculate the ‘norm’ of exposure for an individual user, and if this is surpassed on any particular day, a forecast of tiredness may be made. The algorithms will identify variables that contribute to tiredness and will provide appropriate suggestions or warnings “facilitating the worker’s mindfulness.
While current intelligent PPE utilizes sensors to collect critical user health data (e.g. heart rate), future versions will be able to accurately measure users’ attentiveness and tiredness levels, which may assist managers in determining who and when to take a break. Additionally, some next-generation devices will have features that allow consumers to tailor their experience to their own requirements or tastes.
QBE North America has established a collaboration with VelocityEHS, the worldwide leader in cloud-based environmental, health, safety, and sustainability (EHS) and sustainability solutions, to provide its Humantech Industrial Ergonomics software as a service. This program provides QBE clients with cutting-edge, AI-based sensorless motion capture technology that enables them to identify staff ergonomics problems in the workplace in real time. “Not only can poorly built workplaces cause employee injury and stress; they may also result in long-term discomfort, absenteeism, and productivity loss. Anyone seeking an accurate and rapid assessment of occupations for musculoskeletal disease risk may benefit from this new tool, according to Paul Isaac, Senior Vice President and Loss Control Leader at QBE.

Internet of things (IoT) in Supply Chain

The Internet of Things (IoT) is a network of intelligent objects that communicate and exchange data through the internet. IoT sensors are a critical component of what experts refer to as Industry 4.0, the current trend in manufacturing and logistics toward digitalization.
GPS tracking devices may be installed in modes of transportation such as trucks to provide real-time location information. Sensors in the warehouse aid in inventory management visibility, while those in retail locations aid in demand gauging. Additionally, advancements in IoT will allow the gathering of large amounts of data, which will offer useful insights and more efficient lighting systems.
The allure of IoT is its ease of integration across the supply chain, from beginning to finish. Its outcomes enable businesses to improve productivity, reduce downtime, react proactively to consumer needs, and enhance total ROI.
As more gadgets in the supply chain and manufacturing process become connected to the ‘Internet of Things,’ they will generate an extremely rich data stream (supported by 5G technology) that will transmit signals in real time to trigger a range of actions. For instance, a parts tote might notify through a 5G network that it is 80 percent empty for this SKU, triggering a reorder of the required components.
Gartner forecasts that installed IoT endpoints in industry and natural resources will increase from 331.5 million in 2018 to 1.9 billion in 2028.
Covid-19 affected the worldwide supply chain, necessitating swift response on the part of logistics firms that wanted to continue driving development throughout the epidemic. In the early days of the epidemic, IoT fleet management systems gave logistics businesses with data on how COVID was affecting the supply chain. The epidemic hastened the deployment of IoT across supply chains.
Several businesses are using IoT into their supply networks, as follows:
- Volvo monitors the shipping of vehicle components from several nations using a linked cloud-based system. It tracks vehicle deliveries to the corporation’s worldwide suppliers through the Internet of Things.
- Maersk began testing its Remote Container Management System in 2016; it monitors the temperature and humidity of cargo in containers, thus minimizing food deterioration and resource loss. The platform continuously analyzes sea conditions and enhances the accuracy of weather forecasting.

Innovations in Safety and Supply Chain Industries

We have curated an inventory of six current innovations in the safety industry as well as five innovations in the supply chain industry. These new technologies were selected based on the fact that each is currently the focus of significant industry attention as an innovation that will have substantial ramifications for market participants.

Safety Industry

Perhaps the most widely discussed innovation in the safety industry is smart wearables, which enable companies to “provide constant monitoring of the workforce” with a level of detail, consistency and accuracy that was previously impossible. Notably, wearables are frequently integrated into wrist bands or safety vests, and are currently being used for a wide array of safety monitoring functions including tracking an employee’s “movements, monitoring their posture and even monitoring vital signs such as skin temperature, heart rate and respiration rate.” Business & Industry Connection Magazine, EHS Today and Manufacturing Tomorrow are among the preponderance of industry experts that are currently discussing this innovation.
Another frequently cited innovation in the safety industry by publications including Business & Industry Connection Magazine and Manufacturing Tomorrow are quick response (QR) codes. Specifically, QR codes are now being deployed at the site of various workplace hazards and/or at workplaces more generally, given that they can provide employees with ready information about workplace hazards and associated mitigation steps.
Industry experts (e.g., Business & Industry Connection Magazine, Manufacturing Tomorrow) also routinely cite the use of drones or UAVs in the safety industry for two separate capacities: (1) to replace humans in conducting safety-sensitive inspections, such as those that are at elevated positions and/or that create the potential for exposure to hazardous environments and (2) to proactively identify potential hazards through the use of aerial videography and/or photography.
In a manner similar to drone or UAV technology, robotics is also a key innovation in the safety industry that enables companies to “remove the worker from hazardous work environments” and reduce associated industry risks by replacing workers in performing these safety-sensitive functions. Business & Industry Connection Magazine, Industry Today and Investopedia are among the reputable sources that are currently discussing this innovation.
Safety & Health Practitioner and Business & Industry Connection Magazine are among the industry experts that are also discussing augmented reality (AR) and virtual reality (VR) as key innovations in the safety industry. While distinct, these tools can work together to enhance worker training by exposing them to severe environments in a safe way, as well as enable managers to visualize safety factors in a planned project.
Lastly, artificial intelligence (AI) and machine learning is an area of ongoing innovation and exploration within the safety industry, according to Business & Industry Connection Magazine and EHS Today. At present, these tools enable companies to identify safety risks through the recognition of patterns in incidents as well as facilitate the performance of routine tasks at a higher frequency, lower cost point and higher safety level.

Supply Chain Industry

Big data, particularly in combination with AI, is one of the more widely discussed innovations in the supply chain industry by experts including Innovation Management, 6 River Systems and The University of Tennessee. In particular, the new ability to process vast amounts of logistics information is transforming the industry by adding efficiency to supply chain processes (such as fleet management optimization) and creating new opportunities for competitive advantage.
Robotics and automation is another broadly discussion innovation in the supply chain industry. Specifically, Innovation Management, 6 River Systems, Transmetrics, and Supply Chain Digest are among the credible sources demonstrating how robotics and enterprise-wide automation are assisting the industry in reducing production and pickup times, optimizing sorting, and significantly reducing the risk of human error.
Innovation Management and Transmetrics also discuss autonomous vehicles as an advanced technology that is meaningfully impacting the supply chain industry. Not only do these unmanned vehicles enable cost reduction in the supply chain (i.e., by cutting payroll expenses, reducing fuel consumption and optimizing vehicle maintenance) but they are also lowering the potential for human safety issues on the road.
Even as a concept that is still in development. blockchain is another key innovation in the supply chain industry, according to 6 River Systems, Transmetrics and Supply Chain Digest. At present, this permanent ledger system is assisting industry participants in tracking parts and identifying counterfeits.
Finally, Transmetrics and 6 River Systems discuss the innovation of digital twins within the supply chain industry. These digital models of real-world systems enable supply chain leaders to test changes without impacting operations as well as to conduct global assessments of their current working environments.