The computer technology application that automates the product design process, including but not limited to the functions of geometric modeling, materials stress and strain analysis, drafting, storing product specifications, and mechanical simulation of a product's performance, is called CAD/CAE.

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CAD/CAE stands for Computer-Aided Design/Computer-Aided Engineering and is a technology that automates the product design process by using various software tools to assist in design, analysis, and simulation tasks. This includes functions such as geometric modeling, materials stress and strain analysis, drafting, storing product specifications, and mechanical simulation of a product's performance. Therefore, the statement is true.

The Computer Technology Application That Automates the Product Design Process