Enhancing Product Development Process for the Circular Economy through AI-driven Insights and Innovations

Abstract

In order to limit waste creation and optimize resource efficiency, a considerable change from traditional product development procedures is needed in the direction of a CE. The study presents an innovative method to improve the process of developing new products inside the circular economy paradigm by employing AI to provide insights and enhance creativity. The article starts out by summarizing the core concepts of the CE and how they apply to the development of new products. It emphasizes how important it is to make things that are durable, reusable, recyclable, and biodegradable. The study investigates how AI has the ability to significantly alter how things are formed. The study also includes case studies and illustrations of how AI is being applied to encourage circularity in a number of sectors, namely packaging, electronics, automotive, and fashion. By leveraging AI, businesses may accelerate the transition to regenerative and sustainable practices while opening up new avenues for growth and competition in a world of finite resources.