Hyster-Yale Group Gives Students Real-World AI Experience in 2024 Kellogg Design Challenge
Representatives from HYG and Northwestern University judged entries from 16 teams of MBA and engineering students in a multi-stage innovation competition
Hyster-Yale Group presents at Kellogg Design Challenge
GREENVILLE, NC, May 02, 2024 (GLOBE NEWSWIRE) — Representatives from the Hyster-Yale Group joined Northwestern faculty from the Kellogg School of Management and the Segal Institute for Design Innovation and innovation industry leaders such as IDEO, PwC and IA Collaborative to facilitate the 2024 Kellogg Design Challenge, the largest business design case competition in MBA programs worldwide. As a platinum sponsor, Hyster-Yale provided the theme for this year’s competition, AI x Design, which emphasizes the use of artificial intelligence to enhance the new product design and development process, potentially reducing the time and effort involved by up to 50%. .
“Our focus is to drive innovation to advance the way materials are moved and help address the most pressing challenges facing supply chain operations,” said Ed Stilwell, chief innovation technologist at Hyster-Yale. “As we pursue this mission, the Kellogg Design Challenge is an exciting opportunity to tap into some of the brightest young minds. This is not only an important step towards harnessing the power of cutting-edge technology to drive change, but it also supports our approach to hiring the best talent and developing them to become the future leaders of tomorrow.”
Approximately 90 graduate students from Northwestern, Parsons, Carnegie Mellon, University of Chicago, Imperial College London, Cornell, UCLA and Dartmouth competed in the multi-stage event. Throughout the month of April, the competition included Q&As with Hyster-Yale innovation representatives, workshops with innovation partners, and the flagship Kellogg Design Challenge Day, featuring presentations from all competitors, speaker sessions, and networking opportunities.
Cornell University Johnson School of Business students won first place for their exceptional “EZ Requirement Assistant,” demonstrating a deep understanding of user needs and innovative problem solving while demonstrating the potential for real-time and cost savings . In addition to awarding cash prizes to the first, second and third place teams, this year’s edition included a bonus prize for the most human-centered and inclusive design, which was awarded to Northwestern Kellogg students. Members of the Hyster-Yale innovation team, along with the competition’s other judges, evaluated the semifinalists on design research, solution design, business impact, and innovation pitch.
“We want to thank the Kellogg Design Challenge team and graduate students from renowned universities for their excellent involvement in making the Kellogg Design Challenge an incredible success,” said Dr. Gopi Samayajula, senior vice president of global Hyster-Yale products. . “This year’s competition encouraged them to build around the challenges of tomorrow’s technology solutions and make a real impact on the new product design and development process by leveraging emerging AI technologies – potentially reducing the effort involved by up to 50% .”
Hyster-Yale’s innovation team focuses on developing advanced technologies for material handling operations and accelerating the adoption of these technologies in commercial applications. Between the Yale® and Hyster® forklift brands, the company’s emerging technology base includes more than 500 automated forklift units and more than 6,000 forklifts featuring the company’s patented operator assistance technology.
In addition to the Kellogg Design Challenge, Hyster-Yale has several long-standing collaborations with academic and career development programs across the country. The company’s Innovation Lab operates at the University of Portland’s Shiley-Marcos Center for Design and Innovation and is a model for other industry-university cooperations, immersing students in real-world engineering projects and product development. The company also works with colleges in the communities where it operates, such as East Carolina University, Berea College, Eastern Kentucky University and the University of Kentucky, to sponsor senior capstone projects and provide mentoring and internship opportunities. Hyster-Yale also serves alongside companies such as Lockheed Martin and Lexmark on Eastern Kentucky University’s engineering advisory board.
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About Kellog
Northwestern University’s Kellogg School of Management is a premier global business school with a vibrant global community of faculty, staff and students dedicated to innovative teaching and research that shape the practice of business around the world. As alumni, Kellogg Leaders possess a special blend of analytical, creative and social intelligence that allows them to lead with impact in the face of rapid change. Kellogg offers an innovative portfolio of programs: six full-time MBA programs, including specialized joint degree programs with Northwestern’s schools of engineering, medicine and law, a part-time evening and weekend program, a Executive MBA, a master’s degree in management, a doctoral program. and extensive non-degree executive education programs.
About the Hyster-Yale Group
Hyster-Yale Group, Inc. designs, engineers, manufactures, sells and services a comprehensive line of forklifts, accessories and replacement parts marketed globally primarily under the Hyster brand.® and Yale® Brand names. Hyster-Yale Group subsidiaries include Bolzoni SpA, a world leader in the production of accessories, forks and lift tables sold under the Bolzoni brand.®Auramo® and Meyer® brands and Nuvera Fuel Cells, LLC, an alternative energy technology company focused on fuel cell stacks and engines. The Hyster-Yale Group also has an unconsolidated joint venture in Japan (Sumitomo NACCO). Hyster-Yale Group, Inc. is a wholly owned subsidiary of Hyster-Yale Materials Handling, Inc. Hyster-Yale Materials Handling, Inc. and its subsidiaries, headquartered in Cleveland, Ohio, employ approximately 8,600 people worldwide. For more information about Hyster-Yale Materials Handling, Inc. and its subsidiaries, visit the company’s website at www.hyster-yale.com.
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CONTACT: Jennifer Timblin Hyster-Yale Group 252-412-4322 jennifer.timblin@hyster-yale.com Dan Gauss Koroberi 336-409-5391 dan@koroberi.com
