AI Integration iN Manufacturing

The world of manufacturing is consistently modernizing to ensure that the efficiency of production in a warehouse is maximized. Tim Hoj, CEO of Hoj Innovations allowed us the opportunity recently to host an executive event at his company's corporate office and warehouse. Hoj Innovations is a great example of a company that has pioneered aspects of manufacturing efficiency and helped companies save time and money in their warehouses. At the forefront of AI integrated manufacturing technology is a subcategory referred to as computer vision. This technology uses images from cameras and videos to identify objects and react to the images that computer vision is “viewing.” There are many financial, quality, and safety advantages to this technology with the following being the major highlights of its integration into warehouses. 

Computer vision is capable of automating payroll and onboarding responsibilities through automated document processing, furthermore, it is capable of processing invoices and controlling inventory management as well. This means that from the hiring process to tracking inventory management there is an automated system controlling the process with precision. Computer vision is capable of tracking quality standards through ultraviolet and infrared lights to catch mistakes down to the most minuscule detail. Last on the list of computer vision highlights is the topic of safety and using custom metrics, computer vision can track dangerous areas of a warehouse. It will track when employees are in high-risk areas as well as prevent machines from breaking by tracking the deterioration of a machine which allows workers to provide the proper maintenance on a machine before it breaks down completely. The integration of AI in manufacturing will be a long process but eventually could re-shape the efficiency of a business's production and save time and money in a multitude of areas. 

The Power of Courage

C.S Lewis defines courage as not one of the virtues, but every virtue at its testing point, a choice that each person makes when facing a decision that requires trust and a sense of adventure within yourself. We are living through a time period that requires lots of courage for a multitude of reasons, so interviewing the Executive Vice President and Partner of IPG Commercial Real Estate, Jeremy Jensen, SIOR, CCIM, about courage seemed like perfect timing. 

I asked Jeremy four questions about the topic:

1.) What, to you, makes an act courageous?

Jeremy: Courage is staring down your fears, face to face, one on one, analyzing risks and rewards, setting priorities, making a plan, and moving forward, with faith, in spite of any paralyzing feelings or emotions that come up along the way.

2.) How would you like to see courage used in the world?

Jeremy: I am very grateful when I see people exercise courage to do the right thing, defend the underprivileged, champion human rights, and love the seemingly unlovable. I love it when courage is used as a tool for making the world a better place.

3.) What is a recent act of courage you have witnessed that you admire?

Jeremy: I admire the courage I see in Candace Keller as she parents a special needs daughter through challenging days, sleepless nights, and a lot of unknowns. 

4.) How have you used feelings of courage to succeed?

Jeremy: I have found courage to be most valuable when I have clarity of mind and purpose to help me move forward in spite of my feelings. Mindfulness and meditation have been exceptionally good tools for defining the difference between real and imagined risks. When we truly understand our priorities and have a solid plan in place, courage is the tool that takes you to many of life's treasures. 

 Courage has the ability to change outcomes for the better and help people gain confidence in ways they have never imagined. As Jeremy said, it can be a tool to make the world a better place.  

Industrial investments continue strong performance

Inflation rates are currently at a 40-year high in the US and we are seeing that in everything from the price of gas to eggs in the grocery store. Times like this yield the question, what is a safe investment in such a volatile economy? Commercial real estate, according to investors, is currently a safe hedge against the high inflation rate we are facing here in the US. Real estate is often referred to as a long-term, safe, physical asset versus the stock market which seems to be struggling with inflation. Dow Jones is currently down 9.47% from the start of the year, NASDAQ is down 22.23%, and the S&P 500 Index is down 13.4%. For comparison, in the first quarter of 2022, the industrial market has continued to increase rent across the US from the end of the fourth quarter in 2021. In that time roughly 92 million more square feet of buildings are under construction, and demand is once again on pace to outwork supply. In a time where investing in the market does not provide a comforting feeling, the real estate market is on track to deliver another year of incredible growth and high performance. 

https://www.globalbankingandfinance.com/why-commercial-real-estate-is-a-safe-hedge-against-inflation-and-the-biggest-asset-class-winners-for-investors-right-now/

Concrete Innovations

Concrete slabs are a crucial part of the construction of any building, they ensure that the structure sits on a horizontal surface and supports everything above it. The beautiful and modern Copper Crossing buildings represented by our team are built on 7” thick reinforced slabs, this is the new normal for industrial slabs and allows for the most support for any type of industrial tenant's needs!

With there being a focus on how we can make each facet of our lives more sustainable, concrete is among the things people are making a case for, and for good reason. Concrete is the second most-consumed product in the world, only behind water and as one could imagine, that means that it is being mass-produced which can be very costly to the environment if not done properly. The new aim for concrete is to use recycled materials to make it, the materials mostly consist of items such as blast furnace slag, recycled glass aggregate, and fly ash as well. These products require less energy to produce because normal concrete production requires breaking down materials whereas the materials listed above are already broken down. Developing this product means that the 5-8% contribution to worldwide carbon emissions that concrete production produces could be reduced by nearly 80% in the future. Between using recycled materials and fewer fossil fuels, the cost of production and the cost of the actual product is comparatively less than the normal production of concrete as well.

The idea of producing products with recycled materials and reusing waste to make something useful is the type of innovation that will help our world get set on a healthier course for our children and grandchildren as well. It is always important to think about how we can help improve the marvelous world we all share.

Attitude of Gratitude

My family moved around a lot when I was growing up.  I was involved in the Boy Scout program. I enjoyed scouting, getting outside, going camping and backpacking.  I learned many skills I have used throughout my life.  I had worked towards completing the requirements to earn the Eagle Scout award but it was difficult to be consistent when we moved so often.  The 18th birthday is the deadline for completing the requirements for Eagle Scout.  At 17 and a half years old I was close but had one of the most difficult requirements left to complete, the Eagle project.  I had pretty much given up when an older man I didn’t really know approached me at church and offered encouragement and his help with completing the requirements and submitting the paperwork.  Without his help and encouragement, I wouldn’t have completed my goal to be an Eagle Scout.  

I am grateful for his help.  He helped changed the course of my life and opened many doors and opportunities to work with and give back to youth and to continue my quest for outdoor adventures.  About 20 years after that encounter, I had the opportunity to find the gentleman that had influenced my life in such a profound way with his simple service all those years earlier.  I expressed my gratitude for his kindness and service and tried to convey how that one act had put me on a path of service to others in an attempt to pay it forward.  He has since passed away but I will always remember the twinkle in his eye and the humble manner in which he had listened to my stories and expressions of gratitude for his help.

We have been through a couple of difficult years where life and work has changed as a result of the COVID pandemic.  Now is a good time to be thankful and grateful for where we are and what we have.  A colleague mentioned an article containing information about several studies showing that those with an attitude of gratitude are more optimistic and feel better about their lives. Some of the statistics mentioned are:

• Gratitude is related to a 10% improvement in sleep quality and 19% lower depression levels for patients with chronic pain. 

• Gratitude is related to 23% lower levels of stress hormones (cortisol).  

• Practicing gratitude led to a 7% reduction in biomarkers of inflammation in patients with congestive heart failure.

• Grateful people have 10-16% lower blood pressure.

• Writing letters of gratitude reduced feeling of hopelessness in 88% of suicidal inpatients and increased levels of optimism in 94% of them.

• Other studies show how gratitude can improve relationships.  Individuals who took time to express gratitude for their partner felt more positive toward the other person and also felt more comfortable expressing concerns about their relationship.

Expressing gratitude to others also provides encouragement and improves the life of those we are grateful for. 

How Can We Put Gratitude Into Practice?

1. Write a thank-you note.

2. Express your gratitude to those around you

3. Keep a regular gratitude journal

4. Count your blessings daily

5. Meditate/Pray

These types of activities, if practiced consistently, serve to make gratitude a natural part of your day, will improve the quality of your life dramatically and could possibly just make another person’s day a lot better.