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We’ve been through a lot in the last few years, like COVID, inflation, natural disasters, war and more. All of them have had an impact on the global economy.

Combine that with the surge in consumer demand, shortage of labor and supply chain issues. And it’s easy to understand that manufacturing enterprises continue see the challenges even to this day, in 2023, said Shilpa Prasad, director of new ventures at LG, in a session at the Transform 2023 event this week.

In a fireside chat with Sokwoo Rhee, corporate senior vice president of innovation at LG Electronics and head of the LG NOVA incubator, Prasad addressed the challenge of using new technologies and converting them into opportunities to change the way we work in our daily lives.

LG NOVA is a North American innovation arm for LG Electronics, which sells 20 million devices a year of all kinds. And overall, LG is a $70 billion manufacturer, one of the largest in the world, with 128 factories and 85,000 people working at them. Those factories already have robotics and automation, and the company is evaluating how artificial intelligence can further help it.

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While the company has to look at products and processes in these factories, it also has to put the people in the workforce and those it is hiring front and center, Prasad said.

“We’re constantly looking at how technology can play an important role in addressing this and particularly how we can apply generative AI,” she said.

In 2017, LG Electronics