Mario Longhi, U.S. Steel Corp. CEO, challenged steelmakers to innovate and invest in research and development to stay relevant in the marketplace while giving a keynote speech at the AISTech convention this week in Pittsburgh.
“There is a revolution underway in advanced materials — a race to discover and commercialize materials that are lighter, stronger, more energy-efficient, or more versatile,” he said Tuesday, according to statement from the Association of Iron and Steel Technology. “Make no mistake: We need to create the next generation of solutions to ensure steel remains the material of choice in a variety of applications.”
While steel is a mature industry in the commodity business that's not widely associated with innovation, U.S. steelmakers will face increased competition from smart materials and coatings, such as those that clean themselves or retain memory, Longhi said. Companies like U.S. Steel must innovate in products, processes and business relationships so they don't become obsolete, he said.
“The steel industry cannot accept the status quo. I’m sure none of the industries we compete against are sitting around waiting to see what we do next,” he said. “Their sole focus is on meeting the needs of the markets they already serve, as well as the one they want to begin serving.”
Advances in automation and robotics are increasingly making American manufacturers more competitive internationally and such technology should be embraced, Longhi said.
“Up until now, the pace of change in our industry has been slow at times,” Longhi said, according to AIST. “However, that trend must reverse. We must fully embrace disruption all around us so we can continue to be disruptors ourselves.“
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