- 69% of those surveyed see wearable augmented reality (AR)
solutions supporting artificial intelligence (AI) and workflow
optimization as being central to future warehouse
operations
- The potential of AR technology to support existing human
capital investments is widely confirmed
ROCHESTER, N.Y., March 7,
2024 /PRNewswire/ -- Vuzix® Corporation (NASDAQ:
VUZI), ("Vuzix" or, the "Company"), a leading supplier of smart
glasses and Augmented Reality (AR) technology and products, today
announced the release of a 2024 industry brief, "Revolutionizing
Fulfillment Operations with Workforce Augmentation," created in
partnership with Incisiv, one of the leading insights firms for
digital transformation leaders.
This report compiles responses from executives across retail,
manufacturing, third-party logistics (3PL), and distribution
sectors within the U.S., offering industry perspective into the
evolving logistics landscape. It examines the impact of digital
transformation in warehouse operations, the challenges in digital
adoption, the role of augmented reality within the complex
ecosystem of current and evolving warehousing technologies, and the
technological front-runners in the race to achieve improved
productivity and optimal efficiency.
"We're at a pivotal moment in the evolution of warehouse
operations, as revealed by the data," states Paul Travers, President and Chief Executive
Officer of Vuzix. "As the foundation of customer satisfaction and
competitive advantage in the current eCommerce landscape, logistics
fulfillment centers demand rapid adaptation from businesses. They
must meet escalating consumer expectations, overcome labor
constraints, and leverage new technologies for smarter, more
economical fulfillment strategies. Our ambition extends beyond
deploying AR wearables, as we aim to integrate them in a way that
amplifies the capabilities of our indispensable human workforce,
marrying innovation with talent."
Warehouses Are Moving Beyond Mere Digitization into a Hybrid
Future
The survey indicates that traditional paper-based picking is in
rapid decline, with 77% of warehouses opting out of paper systems.
This pivot to digital tools, especially in picking operations, is a
clear indicator of technological advancement, and has set the stage
for an era of more sophisticated processes. Even amidst technology
prioritization, however, companies clearly continue to value the
role of human workers in logistics. 94% of businesses report
a commitment to the evolving role of human labor in areas like
automated warehouses and last-mile delivery. In this context,
there's a growing focus on technologies that enhance, rather than
replace, human capabilities. Reflecting this sentiment, an
astounding 69% of those surveyed agree that wearable AR solutions
that broaden the capabilities of their workers with AI
optimizations, improved accuracy, and data-rich inputs will be
central to warehouse operations in the coming years.
Moviynt, Vuzix' wholly owned subsidiary and SAP Certified ERP
SaaS logistics solution provider, will be showcasing AI and machine
learning on Vuzix AR smart glasses in booth B7454 at Modex 2024,
being held in the Georgia World Congress Center on March 11-14 in Atlanta,
Georgia.
To learn more about the findings from the 2024 Revolutionizing
Fulfillment Operations with Workforce Augmentation industry brief,
including further analysis, please visit
https://www.vuzix.com/pages/logistics-report-2024.
Report Methodology
Incisiv conducted a hybrid online + Computer Aided Telephonic
Interview (CATI) survey of 128 executives from the Retail,
Manufacturing, Third-party, Logistics (3PL), and Distribution
industries. The study was conducted from October 16, 2023 - November 2, 2023.
About Vuzix Corporation
Vuzix is a leading designer, manufacturer and marketer of Smart
Glasses and Augmented Reality (AR) technologies and products for
the enterprise, medical, defense and consumer markets. The
Company's products include head-mounted smart personal display and
wearable computing devices that offer users a portable high-quality
viewing experience, provide solutions for mobility, wearable
displays and augmented reality, as well OEM waveguide optical
components and display engines. Vuzix holds more than 350 patents
and patents pending and numerous IP licenses in the fields of
optics, head-mounted displays, and augmented reality Video Eyewear
field. Moviynt, an SAP Certified ERP SaaS logistics solution
provider, is a Vuzix wholly owned subsidiary. The Company has won
Consumer Electronics Show (or CES) awards for innovation for the
years 2005 to 2024 and several wireless technology innovation
awards among others. Founded in 1997, Vuzix is a public company
(NASDAQ: VUZI) with offices in: Rochester, NY; Munich, Germany; and Kyoto and Tokyo, Japan. For more information,
visit the Vuzix website, Twitter and Facebook pages.
Forward-Looking Statements Disclaimer
Certain statements contained in this news release are
"forward-looking statements" within the meaning of the Securities
Litigation Reform Act of 1995 and applicable Canadian securities
laws. Forward-looking statements contained in this release relate
to Vuzix Smart Glasses and among other things the Company's
leadership in the Smart Glasses and AR display industry. They are
generally identified by words such as "believes," "may," "expects,"
"anticipates," "should" and similar expressions. Readers should not
place undue reliance on such forward-looking statements, which are
based upon the Company's beliefs and assumptions as of the date of
this release. The Company's actual results could differ materially
due to risk factors and other items described in more detail in the
"Risk Factors" section of the Company's Annual Reports and MD&A
filed with the United States Securities and Exchange Commission and
applicable Canadian securities regulators (copies of which may be
obtained at www.sedar.com or www.sec.gov). Subsequent events and
developments may cause these forward-looking statements to change.
The Company specifically disclaims any obligation or intention to
update or revise these forward-looking statements as a result of
changed events or circumstances that occur after the date of this
release, except as required by applicable law.
Vuzix Media and Investor Relations Contact:
Ed McGregor, Director of Investor
Relations,
Vuzix Corporation
ed_mcgregor@vuzix.com
Tel: (585) 359-5985
Vuzix Corporation, 25 Hendrix Road, West Henrietta, NY 14586 USA,
Investor Information – IR@vuzix.com www.vuzix.com
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SOURCE Vuzix Corporation