There are worries of recession and increased financial inflation and the crumbled workforce market making it more intricate for companies to hire skilled talent
A new survey report by Accenture has now stated that several global semiconductor executives now feel that the supply chain slump issue will be solved by 2024. Also, the global financial and consulting services companies added that semiconductor companies must be prepared to counter other pressures of the market and must put their attention on investments because that will help them to spearhead the growth.
Syed Alam, Accenture global high-tech lead, said in an interview with VentureBeat that the major issues include macroeconomic effects, lingering COVID-19 challenges, the talent pipeline, supply chain issues and a lack of sufficient investment. The electronics and the automobile industry are still facing the challenge of reduced chip production, while the manufacturers are struggling to craft greater flexibility due to escalated demands on the supply chain. In fact, there are several ongoing hurdles of the semiconductor industry that are impacting energy supplies and the entire supply chain ecosystem. There are worries of recession and increased financial inflation and the crumbled workforce market making it more intricate for companies to hire skilled talent.
The executive highlighted various other barriers of the industry that include geopolitics (cited by 48% of respondents), cybersecurity threats (42%), the changing competitive landscape (39%) and talent shortages (35%), among others, as per the Venturebeat report. Around 65 percent of semiconductor experts also clearly added that the volume of transistors in an integrated circuit which increases to double every year will reduce to a large extent in 2024. But, there is a very high chance that the role of AI in both enterprises and in the semiconductor development process will be expanded. The Accenture report further added that they are either deploying or scaling AI’s use in analytics, and just over half (52%) reported that their company relies on an even balance between humans and AI in development. And, 21% indicated that their companies rely mostly on AI in semiconductor development.
Syed Alam, global lead of Accenture’s high tech industry practice in an interaction with Venturebeat said, "As the demand for chips slows down amid inflationary concerns and an easing of the chip shortage, semiconductor businesses face a new set of challenges driven by geopolitics and a growing talent shortage. To succeed, companies need to balance being resilient in tough times with continued investments in innovation.”
Amid the ongoing impediments, the metaverse has turned out to be so large that it cannot be ignored anymore for most of the firms. Nonetheless, several CXOs are in the middle of an intricate situation and are failing to unleash an impeccable metaverse strategy that will help in convincing the stakeholders on its future values. The chipsets are used in powering the devices and the technology. A huge chunk of chip companies are utilizing the metaverse to focus on the value chain increasing their potential to do R&D.
