Manufacturing leading way in AI adoption, report says

June 13, 2024 Editor

Artificial Intelligence (AI) is set to play a pivotal role in manufacturing operations as part of Industry 5.0. A recent report by Fluke Reliability supports these assertions.

The research, conducted by Censuswide, surveyed over 600 senior decision-makers and maintenance professionals in the US, the UK, and Germany. The findings reveal that manufacturers are leading the way in integrating AI technologies into daily operations.

The results highlight a clear trend in the manufacturing sector: AI will be a top business priority over the next 12 months, according to 93% of survey respondents. This is mirrored at an organisational level, with 90% of senior decision-makers and over 80% of maintenance managers considering AI a priority.

Regarding predictive maintenance, only 8% of those surveyed currently employ a predictive maintenance strategy. However, a significant 76.5% aim to shift to predictive or proactive maintenance, viewing AI as a crucial tool to achieve this transition.

Manufacturers are already translating these intentions into action. On average, respondents plan to allocate 44% of their technology budgets to AI in 2024. Notably, 30% of respondents intend to invest 51-75% of their technology budgets in AI this year.

Despite only 9% of manufacturers having achieved their Industry 5.0 goals so far, the majority (61%) expect to reach their AI objectives within just 11 months.

“Predictive maintenance is becoming a need, not a want – especially as skilled labour is hard to come by and retain,” says Ankush Malhotra, President of Fluke Reliability. “AI offers a clear pathway and there is a strong belief within the industry that manufacturers who don’t adapt to the benefits are likely to be left behind. The results of this survey show that while many industries are talking about AI implementation, manufacturers are walking the talk.”

For those planning to invest in AI over the next 12 months, the primary drivers behind AI adoption include:

The ability to develop new products and services (35%)
Addressing data processing and analysis requirements (35%)
Enhancing customer service (35%)
Improving efficiency and productivity (34%)
Compensating for the skilled labour shortage (31%)

“It’s no surprise that manufacturers are bullish in their adoption of AI,” said Aaron Merkin, Chief Technology Officer, Fluke Reliability. “We know it works and have customers who have seen value in as little as three months.”

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