FINAT, an international association serving the European label industry, has unveiled insights into the opportunities and challenges AI brings to the sector.
At the European Label Forum 2024, experts Dieter Tschemernjak and Katie King discussed AI as a tool for augmented intelligence, emphasising its potential in driving innovation and operational efficiency rather than replacing human roles entirely.
They highlighted that the tool can automate repetitive tasks and free up professionals to focus on strategic and value-added activities.
Both speakers delved into AI’s applications within the label industry such as automating design processes, reducing waste, optimising production lines, and real-time anomaly and defect detection, which improves product reliability.
They also noted AI’s role in personalised marketing campaigns, circular economy models, and reducing environmental footprints.
King conducted live audience polls to gauge sentiments about AI. Attendees expressed concerns about job redundancy, privacy issues, and cultural shifts. However, King emphasised that, when ethically applied AI, can enhance human roles, providing tailored insights and strengthening customer relationships.
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Tschemernjak described AI as a disruptive force with significant implications for strategic and innovation processes. He warned that industries slow to adapt to AI risk becoming obsolete.
Tschemernjak highlighted AI’s ability to accelerate data analysis, enhance competitive intelligence, enable scenario planning and innovation forecasting, and improve cross-functional collaboration.
However, King and Tschemernjak emphasised the ethical use of AI, calling for the appropriate regulation and transparency to address privacy concerns, mitigate biases, and prevent misuse.
They recommended establishing cross-departmental AI task forces to monitor trends and implement best practices.
The EU’s recent binding laws on AI were cited as a positive step, but the speakers stressed the need for international collaboration.
The session concluded with a practical roadmap for integrating AI into organisational strategies.
This included partnering with industry peers, universities, and AI vendors to co-develop solutions, securing executive support for AI initiatives, and implementing transparent policies on data usage and AI applications.
