Doosan Bobcat CEO on AI in Manufacturing

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00:00You have really some new solutions out there, including the AI-powered Jobsite Companion as well.

00:07Tell us a little bit about the highlights this year.

00:09Oh, absolutely. We've done a lot around AI.

00:11I think the Jobsite Companion is a very exciting little tool.

00:15You can see our equipment, whether it's a mini excavator or loader,

00:19you can actually sit in the cab and talk to your machine.

00:22And you can talk to it about what type of machine it is to start the engine,

00:27how do we reset the power settings for the different attachments.

00:30So there's a lot of things that you can do while still operating the machine.

00:33They will be deployed this year. How much customer demand are you seeing?

00:37There's going to be a lot of customer demand because we have an issue with unskilled workers.

00:43We have an issue with people that need to learn how to use the equipment quickly.

00:47So for people that are newbies that can actually go in there and start talking to the machine,

00:51they can actually be operational very quickly.

00:53So there's a very high demand because, as you know, there's a huge labor shortage,

00:58and in particular, labor shortage of skilled workers.

01:01Are we talking more along the lines of Asia here in the United States as well,

01:05where you're seeing the demand?

01:07Absolutely.

01:09Labor shortage is actually pretty much a global phenomenon.

01:13Now, there's two types of labor shortage.

01:14One, if you look at Europe and you look at the United States,

01:17you're talking about actually the amount of labor.

01:20So people, there's a shortage of people.

01:21Now, globally, which is the other part, is about skilled labor.

01:26And so what we need to do is we need to come up with solutions like Jobsite Companion

01:29where we can actually take the unskilled laborer or the operator

01:33and be able to bring them up to speed very quickly.

01:36When you're coming up with these solutions, how are you looking at AI partnerships?

01:42AI and partnerships is actually a key point for us.

01:44It's not just about the Jobsite Companion, but we have autonomous mowers and autonomous tractors

01:49and some of these other products that we actually have in the marketplace.

01:54And so what we do is we believe that we cannot be the everything to AI.

01:59So we work with startups, whether we take an ownership position or do a joint venture

02:04or even just do a joint project with them and actually come up with a business model

02:08where we can coexist and actually be winners together.

02:12We always look at construction equipment makers because we see that as sort of a test of demand

02:16and where the economy is headed.

02:18Of course, you operate in a bulk of your businesses here in the United States.

02:21That's correct.

02:21What are you seeing for 2026?

02:24For 2026, it's more of the same.

02:26The U.S. economy is very resilient.

02:28It's very strong.

02:29As you know, there's a high demand for construction in the United States,

02:33whether it's large buildings, infrastructure, or even homes, or especially homes.

02:39And the issue that we have in the United States right now is the demand is up to here.

02:44The supply can't catch up.

02:45And that has a lot to do with labor.

02:46So if we're able to solve some of the labor problems by providing AI tools to facilitate that,

02:53then I think we can actually create more of an economic growth.

02:56And we continue to talk about AI data center build-outs as well.

03:00Are you seeing more of that and perhaps more demand around some of that infrastructure?

03:06For us, we focus on compact equipment.

03:09So as far as the data center demand, we do see it,

03:12but that's more really for the large equipment manufacturers as opposed to us at Bobcat.

03:18You have 70% of your revenue coming from the U.S.

03:21You have about, what, 12% or so when it comes to Asia and 17% in Europe.

03:28Is that correct?

03:29Where are you seeing the bright spots?

03:31The bright spots, clearly the U.S. has always been a bright spot.

03:34I think Europe is turning around.

03:38There's been a bit of softening, and I think that's going to happen or to continue for a while.

03:42But we do see that that's going to start coming back.

03:45And Asia, I think we've got a little bit of a lull right now.

03:48So let's see what happens there.

03:50But clearly, I think there's more stability in the economy and in the industrial area.

03:57And so you see...

03:57What are we talking about?

03:58We're talking about places like in Southeast Asia,

04:02where we see some growth and some capabilities coming to light.

04:05Obviously, in the more developed countries, you see a little bit more of labor issues

04:09and economic, let's say, sustaining itself, but not necessarily growing.

04:15I know that in Europe, perhaps, the expansion into that market also has to do with your acquisition

04:20of Wacker Neusen.

04:22You're looking into that, is what we heard.

04:24Right.

04:24I'm not at liberty to discuss the acquisition, but the information did leak.

04:29So we are in discussions, but we don't know at the end of the day if it's going to come

04:33to fruition or not.

04:34What is the timeline that you're looking at?

04:36That's also something that I can't discuss at this moment.

04:38But do you see any synergies and what sort of businesses are you looking at in order to

04:43expand it inorganically?

04:45Right.

04:45Well, outside of Wacker Neusen, actually, let's just talk about the Doosan Bakkat business

04:50globally.

04:51What we've really done is we've focused on scale matters and size matters when it comes

04:55to our industry.

04:56Because these things, you could call them pieces of steel, and they are actually tool

05:02carriers, right?

05:02So they're taking different tools, and then you actually can put other tools in here and

05:08then make it work.

05:09So that's what I would call a hardware tool carrier.

05:11So if I can get as many of these pieces of steel out in the workplace, in customers'

05:16hands, and working, the next step is actually transforming these things into software tool

05:21carriers.

05:22And that's where AI and digital comes in.

05:24Before I let you go, I know that you have a patent dispute against Caterpillar, and you're

05:29alleging equipment-infringed patents.

05:30What are you hoping to see in that outcome?

05:33Well, you know, again, I can't talk about the litigation, but clearly the reason why we

05:37have patents is to protect our intellectual property.

05:39It's to protect our capabilities.

05:41We've invested a lot of money in developing our products and our functions and our technology,

05:46and clearly we want to protect that.

05:48And that's really, at the end of the day, what we're looking for.

05:50The thing is that when you're asking for import bans, the way that Caterpillar and some lawmakers

05:54here in the U.S. are seeing it is that it will affect jobs here in the United States.

05:58It concerns national security, according to them.

06:01How would you respond to that?

06:02We don't really necessarily agree with that.

06:04Naturally, we have seven manufacturing plants in the United States, so we should be able

06:09to work with Caterpillar and come to a good conclusion there.

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