Manufacturing CEOs Say 2024 Presidential Election Will Be ‘Pivotal,’ New ‘American Manufacturing Resilience’ Survey From Zogby Strategies and Xometry Reveals

• 95% of CEOs Say November Election Could Have a Big Impact on Industry; 77% Say Current Federal Policy Is Strengthening American Manufacturing
• 97% Say AI Will Play a Role in Their Operations in the Next Two Years; 85% Support Federal Regulation of AI
• 78% Have Reshored or Are Actively Reshoring Their Facilities; Nearly All Agree Reshoring Boosts American Manufacturing
  

NORTH BETHESDA, Md., April 16, 2024 (GLOBE NEWSWIRE) -- Manufacturing CEOs who are beginning to use AI, digitize their operations and reshore their facilities, say this year’s presidential election could also have significant consequences on American industry, according to the latest ‘American Manufacturing Resurgence’ poll by John Zogby Strategies and Xometry.

Nearly all CEOs (95%) interviewed for the quarterly survey are watching the run-up to the November election closely, with 77% saying current federal policy has helped strengthen American manufacturing. The majority of CEOs said specific legislation – notably the CHIPS+ (57%), Inflation Reduction (60%) and Infrastructure Investment & Jobs (60%) acts – have had a positive impact on industry.

The findings come as manufacturing CEOs have been aggressively deploying AI, embracing digital technologies and reshoring their operations to drive greater efficiencies and create locally resilient supply chains.

Among the key findings:

• 97% of CEOs have deployed, or are planning to deploy, AI within the next two years. Of the CEOs embracing AI, 60% have already realized a significant return on their investment, with 33% expecting strong results “in the coming year.” The top areas where AI is playing a crucial role: procurement (70%); supply chain management (61%); quality control (43%) and automation (41%). Eighty-five percent would support some sort of federal regulation of AI.
  
• 88% agree the health of American manufacturing depends on reshoring. Nearly 80% say they have already successfully reshored or are undergoing plans to reshore all or portions of their operations to further insulate their companies from macroeconomic and geopolitical disruptions.
  
• All CEOs say they are rapidly deploying digital technologies across their organization, with 65% saying their efforts are “moving along” (55%) or “well ahead of the game” (10%) with the remaining (35%) “just getting started.”
  

“American manufacturers have made tremendous progress over the last few years embracing AI, rolling out new digital tools and reshoring their operations,” said Randy Altschuler, CEO of Xometry. “They’ve also embraced new high-tech processes and benefited from Federal policies aimed at increasing American manufacturing competitiveness on the global stage. It’s no stretch to say American manufacturing is the new high-tech industry.”