CEO of industrial manufacturer Oshkosh Corp. John Pfeifer told CNBC's Jim Cramer artificial intelligence is already making his products more efficient. In fact, it has the potential to make vehicles like garbage trucks completely autonomous.
Pfeifer said the company has already used AI to eliminate the role of the person who traditionally stands at the back of the truck.
"I think that we'll continue to see the driver get more productive, so in one shift they can cover a lot more stops with every year that goes by," he said. "The continuous evolution of autonomous functionality and AI will allow better productivity that ultimately can go completely unmanned."
Oshkosh manufactures access, defense, fire, emergency and commercial vehicles. Its stock plunged to $72 after topping out at $106 in early February, but it managed to climb back to $83. In late April, it reported fiscal first-quarter sales of $2.27 billion, above the $2.09 billion consensus estimate.
The company is also fresh off an $800 million deal with JBT's AeroTech Unit, a big name in the aerospace game.
"We really like this acquisition, we've been working on this for a little while, probably three or four years we've been interested in it," Pfeifer said. "We participate in airports today with our JLG brand that's on the tarmac everywhere, with airport rescue and firefighting vehicles, and we've seen this as an opportunity to expand into other purpose-built vehicles at the airport."
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