The printing industry is going through a textbook example of a structural change, said Andy Paparozzi, chief economist with PRINTING United Alliance. If you’re working in the industry, you have two options: get better, or get left behind.
Speaking to an audience of industry media Tuesday on the eve of the annual PRINTING United Expo in Las Vegas, Paparozzi called AI advancements the “fourth industrial revolution,” and urged those in the industry to not only change what they’re doing, but also how they think about what’s possible.
Paparozzi shared six traits of what he says will define the next generation of print industry leaders.
- Ruthlessly efficient
- Creators of profitable growth
- Agile, innovative, and receptive to change
- AI empowered
- Superior managers of risk and uncertainty
- Willing to move ahead even during periods of extreme uncertainty
“We’ve got a lot of uncertainty ahead of us,” he added.
As if artificial intelligence completely restructuring how businesses operate across the globe wasn’t a strong enough signal that print industry pros are in unchartered waters, Paparozzi reminded the crowd that though AI is the biggest challenge the industry faces, it isn’t the only hurdle. The industry is facing the most uncertainty and operating cost inflation since the COVID-19 pandemic, he says, driven by erratic tariff policies, increased inflation, and the conflict in Iran.
“Even if a peace treaty and stable trade agreements are reached soon, easing inflation, boosting business confidence, and creating much-needed clarity, it will take time for those benefits to work through the economy,” Paparozzi says. “And if they aren’t, the problems will deepen. Either way, the next six months ‒ and quite possibly longer ‒ will be as challenging as the last six.”
“The revolution exempts no one,” Paparozzi said. Structural change brought along by AI is already widening the gap between industry profit leaders and the industry at large. “The small minority of our State of the Industry panel that increased profitability through midyear are pulling ahead of the industry at large. They’re growing faster and are more successful at cost containment. They’re growing not only dollar sales, but real sales and profitability.”
