Business News

What is prompt engineering?

Let’s say you’re making spaghetti marinara for dinner. Sauce from a jar is perfectly fine. But what if you buy your tomatoes and basil from the farmers market to make your own sauce? Chances are it will taste a lot better. And what if you grow your own ingredients from your garden and make your own fresh pasta? A whole new level of deliciousness. Just as better ingredients into a generative AI model can make for better results. These inputs are called prompts, and the practice of writing them is called prompt engineering. Skilled prompt engineers design inputs to interact optimally with other inputs in a generative AI tool. These inputs help elicit better answers from the AI model, meaning the model can perform its tasks better, such as writing marketing emails, generating code, analysing and synthesising text, engaging with customers via chatbots, creating digital art, composing music, or any of the other hundreds, if not thousands, of current applications. Let’s look at an example. Say you want a generative AI model to help you promote an upcoming financial-planning workshop with the CFO of your organisation, Acme Inc. You provide a generative AI chatbot with a simple prompt: “Write a social post advertising a class.” Here’s the output: **Elevate Your Skills: Join Our Class!** Unlock new knowledge, connect with experts, and embrace growth. Limited spots available—reserve yours now! #LearnWithUs #SkillBuilding #ClassTime It’s pretty generic and unlikely to generate much interest. Let’s try again. This time, you make your prompt a little more specific: “Write a short social post advertising a financial-planning workshop with the CFO of Acme, Inc.” Here’s what the model gives you this time: **Master Your Finances with the CFO of Acme, Inc.!** Get ready to take charge of your financial future! Join our upcoming Financial Planning Workshop featuring the CFO of Acme, […]

Helping Proline Steel gain new sustainability certification

www.thinkstep-anz.com The challenge Proline Steel was seeking to become one of the first businesses to be certified by the Australian Steel Institute (ASI)’s new Steel Sustainability Australia program (SSA). They approached the thinkstep-anz team knowing that they had helped ASI develop the new program. About SSA certification SSA certification independently verifies a company’s social, environmental and health processes. The certification, which replaces the ASI’s Environmental Sustainability Charter (ESC), recognises fabricators that have lower environmental impacts, are reducing carbon emissions, are transparent about their supply chain, respect human rights and are moving towards circular solutions. About Proline Steel Proline Steel fabricates structural steel in their factory in Padstow, New South Wales, and has nine staff. The manufacturer is a member of ASI. The company wanted to gain its first SSA certification to support its construction customers in the green building market. The certification contributes points to rating tools like Green Star. It also wanted to maintain industry leadership. As a smaller business, Proline needed help to document the good work it currently does, refine some of its processes and show it complies with SSA requirements. What thinkstep-anz did They worked with Proline to develop systems that support good business governance and manage its Environmental, Health and Safety (EH&S) activities. They held two workshops to help Proline document these systems and also helped the business better understand its supply chain. thinkstep-anz then worked with the Proline team to develop ten documents that met the SSA requirements. Once the documents were complete , they supported Proline with its submission to the SSA, and guided the company on how to best present the information to the assessor. Proline received the Level 1 SSA certificate in May 2023. It will aim for Level 2 next year. Helping Proline Steel to succeed sustainably thinkstep-anz’s work is helping […]

The time has come

A few years ago, Winston Peters was talking of the country’s need for a Minister of Racing and I was talking of the country’s need for a Minister of Manufacturing. I wrote about it, received feedback and, guess what?, that ministry has still not happened and is still a no-brainer! Business leaders need to take action about this for the future of the country. *Doug Green, publisher, NZ Manufacturer www.nzmanufacturer.co.nz Andy Bayly, National Spokesperson for Manufaxcturing comments: (In the picture)In July, representatives from the Hutt Valley Chamber of Commerce, local high schools and manufacturers met in Parliament with MP Andrew Bayly (seated, far right). Local MP Chris Bishop is also very supportive of the initiative. -Andrew Bayly, National Spokesperson for Manufacturing and MP for Port Waikato Over the last year, I have met with manufacturers from Whangarei in the north to Dunedin in the south. I have asked them what the Government could do to better support them. National wants to not only support existing manufacturers, but to attract more people into the sector and more manufacturing to New Zealand. We need all parts of our economy firing on all cylinders if New Zealand is going to recover from the current economic crisis quickly. To do so, we must reduce costs for our manufacturers, encourage investment, reduce taxes and make it easier for firms to hire and train new staff. Why manufacturing matters Manufacturing is critical to the New Zealand economy. It represents about 10 per cent of GDP and underpins over half of our exports. The sector employs about 250,000 people, accounting for nearly 11 per cent of all jobs in the economy. Its contribution to R&D is also significant, accounting for 24 per cent of business spending on R&D ($649 million in 2020). This has been achieved against […]

Dsifer releasing the New Zealand Manufacturing Industry Data and AI Survey

This survey aims to build industry understanding of the way in which data analytics and AI is being considered and implemented across the manufacturing sector in New Zealand for the purposes of informing organisations on how their peers are approaching these tools, informing support organisations on where opportunities exist and understanding benchmarking New Zealand against the global trends. The survey takes less than 10mins to complete and all information provided will be aggregated and anonymised for analysis and publication. The survey can be accessed using his link: https://www.surveymonkey.com/r/Data_AI_2023 and is open until 8th December 2023. We encourage as many people as possible to contribute their feedback so that we are able to generate an accurate picture of the New Zealand manufacturing industry and provide crucial insight in to shaping the future of data and AI adoption in the manufacturing industry.

Tanaka develops first high-entropy alloy powder of only precious metals

Enabling proposals tailored to customer needs through the establishment of five or more different precious metal alloy powder production methods TANAKA which develops industrial precious metals products as one of the core companies of TANAKA Precious Metals, has succeeded in creating a high-entropy alloy powder composed of precious metals with a fine particle size of 10µm or less high crystallinity and excellent composition uniformity. This product is the world’s first high-entropy alloy powder composed of only five precious metals: platinum (Pt), palladium (Pd), iridium (Ir), ruthenium (Ru), and rhodium (Rh). TANAKA has already established a mass production process for this product and began providing samples in October. TANAKA has established five or more precious metal alloy powders and their production methods, which are used in this product, and obtained a basic patent in June 2023 (Patent No. 7300565)[1]. The precious metal alloy powders in this product are alloys composed only of five or more precious metal elements that maintain the corrosion resistance, electrical conductivity, and other excellent properties of precious metals. They are micro-order[2] alloy powders that are easy to use in industrial applications. Unlike conventional nano-order precious metal high-entropy alloys, micro-order alloys are stable as alloys due to their large crystallite size, and they satisfy the original requirements of alloys, such as improved mechanical strength, corrosion resistance, and controlled thermal expansion. They are also expected to contribute to the improvement of the functions and properties of precious metal alloys, whose properties vary greatly depending on the composition ratio of the alloy. High-entropy alloy powder The precious metal alloy in this product is in powder form, and in addition to modeling using a 3D printer and rod forming (forming rod-shaped material by solidifying powder), it can also be used in paste form, which is often used in various circuits and […]

Serious about reducing your carbon footprint? (Part two)

From NZ Manufacturer, October 2023. This month we get to the ‘pointy end’ of things. Using the concepts she explained in last month’s article, Nicky Andrews, Head of Carbon at thinkstep-anz, explains how to measure and reduce your carbon. But first, a recap. Where we left off: identifying the main sources of your carbon emissions So you’ve taken the first step. You’ve split your greenhouse gas emissions into direct emissions (Scope 1), indirect emissions (Scope 2) and the hidden indirect emissions in your value chain (Scope 3). Now you’re ready to measure them. Step two: measure your emissions Your Scope 1 and 2 activities Measuring your Scope 1 and 2 emissions is relatively simple. You’ll need two pieces of data: the volume of emissions your activities create (‘your activities’) and the impact those emissions have on the environment (‘emission factors’). First, confirm your activities. For example, how many kilometres did your employees drive in your company vehicles last year? How many kilowatt hours of electricity powered your plant? You’ll have much of this information to hand in documents like monthly fuel and power bills. Second, find your emission factors. An emission factor represents the amount of GHG an activity releases. The Ministry for the Environment (MfE) provides generic information factors, along with helpful workbooks and guides. For example, according to MfE, one litre of diesel used for transport emits 2.69 kg of CO2 equivalent. Third, do the maths. Units of activity x emission factor per unit = CO2e released. Your Scope 3 emissions These are the emissions in your value chain. They sit with your employees, suppliers and customers. Here’s an example of measuring the carbon in your supply chain. Say you want to estimate the emissions in Scope 3 Category 4 (upstream transport). Ask your suppliers: How much fuel […]

Plan for investing in STEM “long overdue”

Engineering New Zealand President Glen Cornelius says a “serious conversation and commitment with Government” about the country’s approach to developing skills in science, technology, education and maths (STEM) is “long overdue”. Cornelius was responding to recent proposals from Massey University to cease delivering its four-year Bachelor of Engineering (Honours) and Bachelor of Food Technology (Food Process Engineering) degrees – proposals he describes as “a real blow.” “Any proposal to reduce educational opportunities for young people to train in engineering and STEM subjects gives us cause for concern,” he says. Chief Executive Dr Richard Templer agrees, saying engineering is “critically important” to New Zealand’s future as the country looks to grow productivity and incomes. “We know 2,500 new engineers are needed each year to support New Zealand’s economy, and that’s before finding engineers to replace those who move overseas or retire. “There are huge opportunities for today’s engineering students when considering food security and resilience in the face of climate change, or opportunities through innovation and trade,” he says. Although Cornelius accepts tertiary institutions are facing financial pressure and many are making “tough choices” about which programmes are sustainable, he sees Massey University’s proposals as evidence of a larger issue about the place of STEM in education and the workforce. “As President of Engineering New Zealand, I want to see our country grow STEM opportunities for our many intelligent and curious young minds,” says Cornelius. “But these proposals send the wrong message. They suggest a future in STEM isn’t valued – all of which comes at a time when there is a global demand for engineers. “The need for graduate pathways in science, technology, engineering and maths has never been greater – and that’s a message we’ll be taking to the next Government,” he says.

Improve your do! Review your processes to add value

From NZ Manufacturer, October 2023 -Ian Walsh, Partner, Argon & Co NZ All businesses deliver products and services according to their business processes. In the same way the central nervous system transmits instructions from the brain to various parts of the body, business processes provide the mechanism that turns objectives into action. So more effective processes make for more effective actions and, ultimately, better outcomes. The first step to improved processes is a clear and comprehensive understanding of the existing state of affairs. Do you know how well your current business processes perform? I recently asked a group of business owners what kind of service their help lines delivered. Out of the 30 that I asked, only one could tell me. None of the others had thought to pick up the phone to get an insight into their customers’ experience. A process map is the first step towards understanding how a process is performing – and how it might perform better. A process map provides a physical representation of the individual steps within a particular process, identifies who has ownership of each step, and may even incorporate timelines and other information. The act of creating a process map will itself likely highlight areas where resources are being wasted. We recently mapped a client’s enrolment process and discovered that it was possible for students to enrol in a course and graduate before fees were collected. It was no surprise that four staff were involved in chasing bad debtors! This waste of resources at the end of the workflow chain was a direct result of poor practices earlier in the process. Eight well known and well documented wastes are: Defects/Damage, Over Production, Non-Utilised Talent, Transport, Inventory, Motion and Extra Processing. Process mapping helps the whole team to understand the process […]

AMA announcement

From NZ Manufacturer, October 2023 Catherine Lye is the first Chief Executive Officer of the newly formed cross-sector incorporated society, Advanced Manufacturing Aotearoa (AMA). The AMA is industry driven and represents manufacturing across the country to help deliver business-led Advanced Manufacturing Industry Transformation Plan (ITP) outcomes. Catherine has been the Head of Manufacturing and Export Communities at the 7,100-member Employers and Manufacturers Association for the past two years. As part of that she has guided the Advanced Manufacturing and Industry 4.0 initiatives. Following a Bachelor of Commerce degree in Marketing and Finance, Catherine held numerous marketing and export-focused roles in local and international companies, rising to Chief Impact Officer for ExportNZ. AMA Interim Chairperson, Daryl French, says there were a number of high-calibre applicants generated from external advertising, but that Catherine quickly emerged as the best person for the role. “She has such a deep knowledge of the Advanced Manufacturing Industry Transformation Plan and understanding of the issues faced by the sector, as well as a practical understanding of advanced manufacturing technologies,” he says. “One of the keys to the success of this role is building and nurturing relationships with Government agencies, industry partners, research institutions and businesses to engage, influence and inspire them to collaborate for the best outcomes for the sector, and I have absolute confidence that she will deliver to that.” Catherine will work alongside the interim AMA Board, which includes: Daryl French, Interim Chairperson, and independent Director of four manufacturing companies. Rod De Spong, Chief Operating Officer, Douglas Pharmaceuticals Phill Patton, Senior Executive, Datacom Rachel Barker, Chief Executive Officer, Plastics NZ Glenn Hansen, Group Financial Controller, Vortex Engineering Group. Advanced Manufacturing Aotearoa (AMA) is the umbrella organisation leveraging business networks to implement ITP priorities. It takes an industry-led, collaborative approach to helping deliver initiatives that […]

Carbon emissions on the way down

Robert McLachlan, Professor in Applied Mathematics, Massey University. Ian Mason, Adjunct Senior Fellow in Renewable Energy Systems Engineering, University of Canterbury. It may have been largely overlooked in the election debates, but New Zealand’s greenhouse gas emissions are finally on the way down. Annual emissions of carbon dioxide from the burning of fossil fuels are the lowest since 1999 and the 12-month renewable share of electricity is back above 90% for the first time since 1981. The Ministry for the Environment has advised New Zealand is on track to meet the first (2022-2025) carbon budget. All this can be attributed to a range of factors, including fossil gas running low, full hydro lakes, high petrol prices and working from home. But climate policies such as the Emissions Trading Scheme (NZ ETS), the clean car discount and the Climate Emergency Response Fund (CERF) have made a significant contribution to the turnaround. Current decarbonisation policies have and will continue to deliver real emissions cuts, provided they remain in place. It is therefore disconcerting that the National Party plans to take $2.3 billion from the CERF (almost two-thirds of the fund’s mid-2022 balance) to pay for tax cuts. The argument that individual households will use tax cuts to make their own decarbonisation decisions is unsupported by evidence and lacks credibility. The Labour Party has also dipped into this fund, taking $236 million to pay for rebates for household installations of solar panels and batteries, and community energy schemes. These may produce some as yet unquantified emissions cuts. Government funding is working Allocations from the Government Investment in Decarbonising Industry (GIDI) fund to NZ Steel and Fonterra show direct and measurable avoidance of emissions. The installation of an electric furnace at NZ Steel to utilise scrap will save 1% (800,000 tonnes of CO₂-equivalent emissions, or tCO₂e) of New Zealand’s 2021 gross emissions. Support for Fonterra […]

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